First-Time Home Buyers in North Myrtle Beach, SC

This page is general information, not legal, insurance, or lending advice. Loan programs and tax rules change, so please confirm what applies to you with your lender, your insurance agent, and the county. I am a real estate professional, and my part is helping you find the home and walk the process.

If the home will be your legal residence, South Carolina assesses it at 4 percent of market value instead of 6 percent and exempts it from school operating millage, but only after you apply to the county before the first penalty date for that tax year. Inside the city, Horry County's 2026 levies come to about 112.1 mills as a legal residence, roughly $1,457 a year on a $325,000 first home. Skip the application and the same home is billed like a second home, about 221.2 mills on 6 percent, roughly $4,313. Horry mails tax notices October 1, due January 15.

Lenders require flood insurance on a federally backed loan for a building in a Special Flood Hazard Area, and wind and hail coverage may be its own policy near the ocean, so ask for quotes early, including what the condo association's master policy covers. Beyond the down payment, plan for earnest money, your inspection, the appraisal, the first year of insurance, and closing costs, including the closing attorney. Under the South Carolina REALTORS contract, ending the deal during the due diligence period takes written notice plus the termination fee the contract sets.

The order: pre-approval, our written buyer agreement (required by the National Association of REALTORS before touring since August 17, 2024), the search with comps on every property, the seller's disclosure before you sign, the offer, due diligence, the appraisal, and an attorney-supervised closing. Read buying a home in North Myrtle Beach, then call me.