Thinking about an oceanfront condo in Myrtle Beach but not sure where to start? You are not alone. Between rental rules, coastal insurance, and seasonality, there is a lot to sort out before you buy. In this guide, you will learn how to evaluate buildings, run realistic rental numbers, review HOA documents, and avoid common mistakes. Let’s dive in.

Why buy oceanfront in Myrtle Beach

Myrtle Beach is a year-round destination with strong short-term rental demand. Peak months are summer, with spring break and holiday weekends adding surges. That seasonality affects occupancy, nightly rates, and cash flow, so you want to plan your budget around it.

Oceanfront condos offer direct beach access, views, and resort-style amenities. They also come with higher insurance and maintenance costs, HOA fees, and more rental competition. If you understand those tradeoffs up front, you can choose the right building and price range for your goals.

Choose your use strategy first

Most buyers fit into one of three groups, and each path changes your decision criteria.

• Second-home owner: You want easy beach access with flexibility for personal use. Focus on building condition, HOA stability, and owner-friendly rules.
• Short-term rental investor: You want strong seasonal income and professional operations. Focus on rental rules, on-site management options, historical income, and ADR and occupancy trends.
• Long-term rental investor: You prefer steady leases and simpler turnover. Focus on rental allowance, unit mix, and operating costs that support year-round tenants.

Knowing your use plan upfront will guide your building shortlist and financing options.

Run the numbers that matter

Your evaluation should go beyond list price. Ask for actual historical rental data from the seller or building management and review it by month, not just annual totals. Look at these core metrics:

• Achievable gross rental income and seasonality by month
• Occupancy rate and average daily rate
• Net operating income after all expenses
• Cap rate and cash-on-cash return after financing

Budget for coastal-specific costs that can move the needle:

• HOA dues and what they cover
• Wind and hurricane insurance deductibles, which may be percentage based
• Flood insurance if required by your lender
• Corrosion-driven maintenance and salt exposure on HVAC and metals
• Cleaning, management, platform, and credit card fees for short-term rentals
• Local accommodations and transient taxes collected from guests
• Potential special assessments and beach or shoreline projects

Build a conservative pro forma that includes vacancy in shoulder and off-season months.

Understand HOA rules before you bid

Every condo association is different. During due diligence, request the full set of governing documents and financials. Focus on these items:

• Declaration and CC&Rs: unit boundaries, permitted uses, rental terms, pets, parking
• Bylaws and Rules: how the board operates, voting rights, enforcement
• Rental rules: minimum stay, blackout dates, registration, or required management
• Financials and reserves: budget, most recent reserve study, and reserve balance
• Insurance declarations: master coverage type, deductibles, and owner responsibilities
• Meeting minutes and litigation: recent minutes, any lawsuits, code issues, or major repairs
• Special assessments: past 5 to 10 years and pending projects

Rental restrictions can make or break your income plan. Confirm whether short-term rentals are allowed, any minimum-night rules, and whether the association caps the number of rentable units.

Licensing and rental taxes

If you plan to operate a short-term rental, expect to obtain required business licenses and to collect and remit local accommodations or occupancy taxes. Rules can change, and some municipalities add registration, inspection, or noise compliance. Confirm current Myrtle Beach and Horry County requirements, timelines, and remittance procedures during your due diligence.

Insurance and coastal risk basics

Oceanfront buildings often sit in FEMA-designated flood zones. If you use a mortgage, your lender may require flood insurance. Many coastal policies have separate wind or hurricane coverage with percentage deductibles. These details affect cash flow and risk planning.

Ask the seller and HOA for:

• Master insurance declaration page, coverage limits, and deductible allocation
• Whether the master policy is wall-to-wall or bare walls-in
• What unit owners must insure, including interiors and loss of rent
• Proof of flood insurance at the building level if applicable
• Evidence of recent claims and premium changes

Coastal properties also face long-term erosion and sea level exposure. Some communities participate in beach nourishment and shoreline projects that can reduce risk but may involve assessments or special taxes. Factor this into your long-term planning.

Financing oceanfront condos

Condo projects must meet conventional lender and GSE guidelines. Lenders review owner-occupancy levels, single-entity ownership concentration, reserves, and litigation. If a project does not meet those standards, you may need a portfolio or non-conforming loan.

FHA and VA have their own condo approval lists, and many oceanfront buildings are not approved. Lenders may also adjust loan-to-value or pricing for higher-risk flood zones. Talk with a mortgage professional who understands coastal condos before you write an offer.

Appraisal and valuation tips

Appraisers look at building condition, HOA stability, rental rules, amenities, and true oceanfront exposure. For investor units, reliable rental history is important. The best comparable sales are in the same building or line when possible. Insurability and expected maintenance can influence both underwriting and valuation, so provide your appraiser with any verified rental and expense records.

Taxes and closing costs to plan for

Plan for Horry County property taxes and any applicable city taxes, plus transfer and recording fees. Some associations charge a resale or transfer fee. If you operate a short-term rental, you will collect transient taxes from guests and remit them as required. Out-of-state buyers should speak with a tax advisor about South Carolina income tax on rental income.

Compare buildings with a simple scorecard

Use consistent criteria to compare options side by side. Score each building on:

• Location and exposure: true oceanfront line, elevation, dune health, access
• Unit economics: HOA fee per square foot, what dues cover, net cash flow
• Association health: owner-occupancy rate, reserve strength, assessment history
• Physical condition: age, recent capital projects, elevators, parking
• Insurance and flood: flood zone, expected premiums, wind deductible structure
• Rental policy: minimum stay, booking restrictions, owner use windows
• Amenities and operations: on-site management, rental desk, security, storage

This framework keeps emotions in check and highlights long-term costs and risks.

Due diligence checklist

Collect these items as a condition of your contract or before you write an offer when possible:

• Declaration, CC&Rs, Bylaws, and Rules and Regulations
• Current year budget, last fiscal year financials, and any CPA reviews
• Most recent reserve study and current reserve balance
• Insurance declarations, including wind and hurricane deductibles and claims history
• Board meeting minutes for the last 12 to 24 months and any owner notices
• List of special assessments for the past 5 to 10 years and planned projects
• Management contract and key vendor agreements
• Rental rules, registration forms, and any required rental management agreements
• Owner-occupancy data and any single-entity ownership disclosures
• Maintenance, inspection, and engineering reports for structure, balconies, and envelope

On the property side, order a full unit inspection and consider specialists for balconies, building envelope, and corrosion on HVAC and metal components. Confirm elevator and life-safety inspections are current.

Common mistakes to avoid

• Assuming HOA dues cover everything. Master policies vary, and you may need interior and loss-of-rent coverage.
• Overestimating rental income. Seasonality, platform fees, cleaning, and owner blackouts add up.
• Underestimating wind and hurricane deductibles. Percentage deductibles can be large after named storms.
• Skipping HOA minutes and litigation reviews. Hidden issues can lead to surprise assessments.
• Ignoring lender eligibility. Project ineligibility can derail financing late in the process.
• Skipping specialized inspections. Balconies, facades, and corrosion are common coastal issues.

Negotiation strategies that work

• Make HOA and association financial review a clear contingency with time for document delivery.
• If income matters, require verified rental history and allow review by a property manager.
• Keep financing and appraisal contingencies in place, especially if project approval is uncertain.
• If you find pending or likely assessments, negotiate price, request seller credits, or seek escrow for expected costs.
• For investor deals, request transfer of booking calendars and tax remittance records where allowed.

Your next step

Buying the right oceanfront condo takes local insight and a clear process. You want real numbers, thorough HOA review, and a plan that fits your use and income goals. With 20 plus years on the Grand Strand and more than 1,700 properties sold, our team focuses on resort and oceanfront inventory and understands short-term rental operations, investor goals, and second-home needs. If you are ready to compare buildings, validate rental projections, or line up a clean path to closing, we are here to help.

Have questions or want to start your search today? Connect with The Brian Piercy Group for local guidance and a proven process that puts your goals first.

FAQs

What should I verify about short-term rental rules in Myrtle Beach condos?

• Confirm minimum stay requirements, registration or licensing, any owner blackout dates, and whether the association restricts the number of rentable units.

How do flood zones affect an oceanfront condo purchase?

• Many oceanfront buildings are in FEMA VE or AE zones and may require flood insurance with a mortgage, so review the flood map, any Elevation Certificate, and expected premiums.

What does the condo master insurance policy usually cover?

• Coverage varies by building, so check whether it is wall-to-wall or bare walls-in, what deductibles apply for wind or hurricanes, and what interior items you must insure.

Can I use FHA or VA financing for an oceanfront condo?

• Only if the project is approved under those programs, and many oceanfront condos are not, so confirm project eligibility before you write an offer.

How can special assessments impact my investment?

• Assessments increase your cash outlay and lower returns, so review past assessments, pending projects, and reserve strength to gauge future risk.

What are the most important documents to review before closing?

• Declaration and CC&Rs, Bylaws, Rules, budget and reserve study, insurance declarations, meeting minutes, litigation disclosures, and rental rules are essential.