One of the driving forces to Horry County’s future population growth is the younger generation.
Horry County’s growing population is attributed to an increase of young professionals, people from out of state moving south to live on the coast, and families who have lived their entire life and do not plan to leave.
As population continues to grow, a group of local realtors, attorneys, and members of commerce educate new and young buyers on the importance of homeownership Thursday evening.
Buying a home for the first time is a major milestone and financial decision for first time home buyers. The presentation walked young professionals through the steps to become a successful homeowner and the do’s and don’ts when purchasing a home.
“Right now the prices are still down, the inventory is relatively up, and interest rates are at record lows,” real estate expert Ryan Korros says.
High residential market values, low interest rates, and good school systems are attracting young millennials to the area.
Real estate experts say now is the best time for new buyers and the younger generation to buy in the coastal area and has already started to see a trend of young homebuyers in the Carolina Forest and Market Common area.
The main topic in tonight’s presentation focused on the importance of being a homeowner versus a renter and the impact it has on your net worth at an early age.
Median rent in Horry County has continued to grow throughout the years and experts say it is going to continue to trend that way which is why there is a need to educate the younger generation on the importance of homeownership.
“It is really important that people understand that when you purchase a home that you are contributing to the economic cycle by paying your taxes and being a home owner and you are increasing your net worth by the equity that comes through in the home that you own,” Realtor Bobbei Ruswinckel says.
Ruswinckel says she expects the population to increase as she sees a trend of people spend their whole life here while raising a family and then their kids come back and buy a separate home as Horry County is a good place to grow up and raise a family.
