New Construction Condos in Myrtle Beach

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Condos make up just over half the Myrtle Beach market — and a new build changes what you are buying into.

New construction condos suit buyers who want the coastal lifestyle without the maintenance, and investors who want a property that will not need work for years. A new building also means new systems, current construction standards and, usually, a builder warranty.

It also means a young association with a short financial history, which is the part worth understanding before you sign.

New Construction Condos By Area

Every area below shows current new construction condo listings from the local MLS. New townhomes are listed as condos on the MLS, so many of these are townhome communities rather than condo buildings.

Looking For New Construction Homes?

What to Check on a New Condo

The building may be new, but the association is what you are joining. Four things are worth establishing before you make an offer.

Reserve Funding

A new association starts with little or no reserve. Ask what the funding plan is, because underfunded reserves become special assessments later.

Who Controls the Board

The developer usually controls the association until a set share of units is sold. Find out when control transfers to the owners.

Rental Rules

Some buildings permit nightly vacation rentals, some long-term only, some none at all. If income matters, confirm it in the documents rather than from the sales office.

Financing Approval

Lenders treat new and pre-construction condo buildings differently, particularly where the developer still owns many units. Check early with your loan officer.

Association fees also vary enormously between buildings and cover different things. An oceanfront building with elevators, a pool complex and master insurance costs considerably more per month than a low-rise inland one — see condos by price for how that plays out across the market.

Buying Before It Is Built

Some new condos sell pre-construction, off a floor plan and a rendering. That can mean a better price and first choice of unit, and it also carries risks a resale purchase does not: completion dates move, specifications can change within the limits of the contract, and your deposit is committed for months.

Read the contract on deposits and delays specifically, and understand what the builder is permitted to substitute. In South Carolina you will be represented by an attorney at closing regardless — see closing cost estimation — but the contract is signed long before that.

Property tax works the same as any other purchase: 4% as a primary residence, 6% as a second home or investment, which is what most oceanfront condos are. See my Horry County Property Tax page for condo tax figures.

Let Me Be Your Guide

Certified Luxury Home Marketing Specialist | Ashley DeLong, Realtor

I am a Certified Luxury Home Marketing Specialist. New oceanfront condo buildings are a different purchase from an inland townhome, and the questions worth asking are not the same.

As with new homes, bring me with you the first time you visit. Builders and developers generally require your agent to register on that first visit, and the developer pays the same either way. The sales representative in the model unit works for the developer.

For more information about New Condos for Sale in Myrtle Beach or to schedule a showing please call or text Ashley DeLong, REALTOR® at (843) 685-3191 today!

Frequently Asked Questions

What should I check before buying a new construction condo?

Reserve funding, since a new association starts with little or nothing set aside. When developer control of the board transfers to the owners. The rental rules in the recorded documents rather than from the sales office. And whether lenders will finance in that building.

Can I rent out a new condo in Myrtle Beach?

It depends entirely on the building. Some permit nightly vacation rentals, some allow long-term tenants only, and some prohibit renting. Confirm it in the association documents before making an offer.

Is buying pre-construction risky?

It can mean a better price and first choice of unit, but completion dates move, specifications can change within the limits of the contract, and your deposit is committed for months. Read the deposit and delay terms carefully.

Do I need an agent to buy a new condo?

You are not required to have one, but it costs you nothing and the developer pays the same either way. Most require your agent to register on the first visit, so bring them from the start. The sales representative in the model unit works for the developer.

How are new condos taxed?

The same as any other property. A primary residence is assessed at 4% of fair market value, while a second home or investment condo is assessed at 6% and does not receive the school operating exemption.