With average home values around $318,691 in Myrtle Beach as of late 2025 (Zillow, 2025), many coastal dreamers are wondering: is it smarter to buy an existing home or build one from scratch? As prices dip slightly (down 4.1% year-over-year), the local market offers both opportunities and pitfalls. Whether you crave a custom coastal retreat or just want to stop renting near the Grand Strand, the math behind the decision matters more than ever.

Buying in Myrtle Beach: Stability and Speed

Buying a home in Myrtle Beach provides something the construction route rarely can: speed and certainty. The median home spends about 65 days on the market, and there are roughly 2,900 listings available as of fall 2025 (Zillow Market Overview, 2025). You can move in within months instead of waiting for building permits, supply chains, and inspections.

Financially, buying can be advantageous when home prices stabilize or dip, as they are now. The median sale price of $285,667 gives buyers bargaining room—especially since 84.8% of homes sell under list price. In areas like Carolina Forest and Forestbrook, resale inventory offers newer builds (2018–2023) with amenities like energy-efficient systems and HOA-managed landscaping.

Pros of Buying:

• Lower upfront costs (no land purchase, no construction overruns)

• Faster move-in timeline

• Easier to qualify for standard mortgages

• Predictable neighborhood infrastructure

Cons:

• Limited customization

• Potential for deferred maintenance costs

• Competing in desirable submarkets (Grande Dunes, Market Common)

Building a Home: Customization with a Price Tag

Building in Myrtle Beach means flexibility—but it’s not for the impatient or the faint of wallet. Construction costs in Horry County currently average $165–$220 per square foot depending on finishes and coastal wind requirements. On a 2,000-square-foot home, that means $330,000–$440,000 before adding land or impact fees.

If you purchase a lot in Forestbrook or Carolina Forest, expect to pay between $60,000 and $120,000 for half an acre. Custom building may exceed the median home price, but offers potential long-term savings in energy efficiency and insurance. Elevated foundations, impact-resistant windows, and flood-mitigating designs can also reduce premiums in Zone AE and Zone VE areas along the Intracoastal Waterway (FEMA Flood Map Service Center, 2025).

Pros of Building:

• Full design control and energy-efficient systems

• Lower maintenance costs for first 10 years

• May qualify for green-building tax credits

Cons:

• Longer build timeline (8–16 months)

• Higher initial cost than buying resale

• Land and permitting complexity (especially near flood zones)

Resale Value and Appreciation Trends

Over the past five years, Myrtle Beach home values rose from $224K to $318K, a 42% gain despite the 2025 cooldown (Zillow ZHVI Data, 2025). Historically, custom-built homes in newer subdivisions (Carolina Forest, Berkshire Forest) tend to appreciate faster than 20+ year-old homes east of Highway 17.

However, the short-term ROI favors buyers of existing homes when markets flatten. Purchasing below the current ZHVI and holding for 3–5 years often yields higher equity gains than new construction, which takes time to mature in value.

Neighborhood Appreciation Snapshot:

• Forestbrook: +7% YoY (Zillow Neighborhood Data, 2025)

• Racepath: +4% YoY (Zillow Neighborhood Data, 2025)

• Conwayborough: +6% YoY (Zillow Neighborhood Data, 2025)

Financing Differences

Buying and building use different financing mechanisms. A traditional mortgage works for prebuilt homes, but construction loans require two stages: construction and permanent financing. These carry higher interest rates (often 0.75–1.25% above fixed-rate mortgages) and stricter inspection milestones.

That said, Myrtle Beach lenders are warming to new builds, especially in Carolina Forest and Long Bay Estates, where infrastructure is stable. Buyers with 20% down and solid credit (700+) can often roll their construction loan into a standard 30-year mortgage at completion.

Insurance and Maintenance Costs

Coastal ownership isn’t just about sunsets and sand—it’s about wind and flood insurance. New builds designed to 2023 International Building Code standards may save up to 25% on wind coverage and 15% on flood premiums compared to pre-2010 homes (South Carolina Department of Insurance, 2025).

Older homes, especially near Cherry Grove or Socastee, might face rising premiums as FEMA revises risk maps. Modern construction allows elevated slab foundations and hurricane-rated roofs, which reduce long-term maintenance headaches.

The Verdict: Balance Cost, Time, and Long-Term Vision

In 2025, it’s financially better to buy if your goal is quick equity and affordability—but better to build if you prioritize personalization and longevity. Buyers can currently find strong deals below the median price, while builders pay more upfront but recoup value through energy savings and insurance reductions.

If you plan to stay in Myrtle Beach long-term (7+ years), building offers lasting value. For short- to medium-term ownership, buying remains the smarter move amid a slightly cooling market.

Ready to explore your options along the Grand Strand? Whether you’re eyeing land in Carolina Forest or a turnkey home in Market Common, Carolina Crafted Homes can help you run the numbers and connect with trusted local builders or listing agents. Schedule your consultation today and discover what fits your lifestyle—and your wallet.

FAQs:

Q1: Is it cheaper to buy or build a home in Myrtle Beach in 2025?
Buying is generally cheaper right now. With average home values around $318K and median sales below $286K, resale prices remain lower than typical construction costs, which start around $165 per square foot.

Q2: How much does it cost to build a custom home in Myrtle Beach?
Expect to pay $330K–$440K for a 2,000-square-foot home, plus $60K–$120K for a lot. Coastal regulations and flood zone requirements can add 10–15% to total costs.

Q3: What Myrtle Beach areas are best for building new homes?
Carolina Forest, Forestbrook, and Long Bay Estates are top picks thanks to land availability, newer schools, and stable infrastructure.

Q4: Do new homes in Myrtle Beach have lower insurance costs?
Yes. Homes built to 2023 hurricane standards can save up to 25% on wind coverage and 15% on flood insurance compared to older coastal properties.

Q5: Is building a home in a flood zone worth it?
It can be if you design for elevation and resilience. Elevated slab foundations and impact-resistant materials reduce long-term risk and boost resale appeal.