Search and find your next Cherry Grove real estate beach house or rental property here. Cherry Grove is the perfect place to purchase a home. Many Cherry Grove real estate transactions are for investment properties. Although Cherry Grove is home to many full-time residents (including some of the authors on this website), you’ll find that many of the condos and resorts are typically for time-shares and short-term vacation rentals. However, if you are looking to stay awhile and move here, check out the information you’ll need to know before purchasing a home in Cherry Grove.
Cherry Grove real estate is a somewhat limited resource. With very few lots left that have not been built on, most of the resales in the market can demand higher prices and field many bidders. If you’re interested, check out local real estate agents who can help you find the perfect beach house in Cherry grove. If you are looking to live here long-term, you can find beach homes on the second or third row back for much lower prices compared to oceanfront properties. For investments, you can often get full income reports from previous years rental income to compare to. Below are some FAQs that we often hear during research into Cherry Grove homes and real estate properties that often takes place during the moving process.
Real Estate FAQs
What’s the best time of the year to buy?
Typically the mid to late Fall months (October, November) turns out to be a great time to buy beach real estate in Cherry Grove. During the late Spring and Summer months, many homes are occupied with short-term vacation rental guests. While it’s technically possible to show a home during a rental period based on rental restrictions, it’s not ideal for the homeowner selling the property.
How much are South Carolina property taxes?
South Carolina property taxes are lower compared to many other states, but there are two main brackets based on your resident status. Full-time residents who live in their home are taxed at a rate of 4% — much lower compared to northern states. However, if you are a homeowner but non-resident, your home will instead be taxed at 6%, a major difference when based on the value of many larger beach houses in Cherry Grove.
Does Cherry Grove have any special rules or restrictions?
Not particularly. Cherry Grove and North Myrtle Beach do asses certain local taxes and fees for school, roads and other local infrastructure, but the taxes are not exorbitant. Other local laws and rules are listed on our beach information page. UPDATE: due to the rules assessed by the town of North Myrtle Beach for the dredging project, many homes now are paying an extra $20,000+ in taxes over the next 10 years for needed dredging of the canals along the beach. Make sure to check with a realtor about these taxes before purchasing a home in Cherry Grove as some homeowners may have paid the entire tax bill while others are deferring payments on a yearly basis.
Are Cherry Grove home prices going up?
Yes. Over the past two years, listing data from the multiple listing service (MLS) indicates that the average home price sale in North Myrtle Beach has risen from $239,000 to $254,000. This trend shows off the higher property values that are happening in the area.
Do real estate agents help find rental properties?
There are several real estate agents who offer help for finding rental properties, both for investors and for long-term renters. If you are looking for instead a quality short term rental, you’ll have more success with staying with a company that specializes in vacation rental homes and condos.
Amazing drone video of Cherry Grove. #WeLoveTheBeach Video credit: Jonathan Richey
Posted by Visit Cherry Grove on Monday, September 18, 2017