History of Beach Properties - Why Oceanfront Investment Condos?
Myrtle Beach South Carolina real estate investment condos are really in at the moment. There is only so much ocean front investment property available for development in the world and it's filling up quickly. The whole notion of taking holidays at the beach scarcely existed before the nineteen century. But when beach bathing became popular it still was only a very limited activity until early in the twentieth century.
Even vacation houses didn't exist for other than the upper crust of the American population until just about the time of WWI. Just before the turn of the century the very rich had begun the habit of trying to outdo one another with the opulence of their vacation homes as they did at Newport, Rhode Island among other places. It was about the time that doughboys were returning from over there that the Sears and Roebuck home kits catalogues began featuring small vacation cottages among their repertoire of homes. From that point forward the average Joe not only wanted a vacation by the sea but he aspired to owning a beach cottage.
Today everyone seems to be getting in on the profits to be made from the development or investment purchase of vacation real estate particularly ocean front condos. Although Myrtle Beach condos as well as those in other coastal towns seem to be going up at break neck speeds they just won't last forever. When the land is filled up there won't be any more. This is especially true along the Grand Strand, SC where park land occupies much of the limited shoreline. South Carolina is anxious about preserving its remaining beach and the habitats where endangered species are found as they are in Myrtle Beach State Park.
For many these next few years may be the last chance to grab up Myrtle Beach condos before they are simply unavailable or too expensive. There are many real estate opportunities now with the current housing boom but the time to invest in them is truly limited. Investing in oceanfront condos is truly a chance to have your cake and eat it too. Myrtle Beach real estate can serve as vacation home and rental income. Many find that they are able to save on vacations while staying in more spacious accommodations when they switch from hotels to condo ownership. They also can make fairly good profits from the resale if they should decide to move up to a retirement property for instance.
There are many financial advantages to investment condos which the average person can profit from. Even the purchase of just one condo at a time can benefit from the Internal Revenue Service's 1031 exchange. This basically allows a person to buy, sell and then buy again within a limited time without incurring any capital gains tax. This is one of the few investments that can be made without paying tax on the profits. There are tax free municipal bonds and mutual funds but these can't provide even one free vacation!
Whether seeking condos for sale or condos for rent; there are listings for everyone in the Myrtle Beach real estate arena.