Charleston Real Estate BlogsRecently posted or modified blog posts by tag - Buyers Agenthttps://www.southernbellliving.com/blog/Copyright SouthernBellLiving.com2024-01-30T23:00:50-07:00tag:southernbellliving.com,2012-09-20:18511We Have an ANNOUNCEMENT- REALM Global Collective!
Realm- Why this is Important for YOU!
We are excited to announce that <a target="_blank" href="https://www.realm-global.com/" class="editor-rtfLink">REALM Global</a> has chosen two Southern Bell Living Team members!
At Southern Bell Living, we recognize that buying and selling Real Estate means more to us than just a transaction; it's an experience that requires expertise, personalized attention, and utmost integrity.
Our top 1% agents are accomplished professionals and visionaries who understand the intricacies of the market and possess an unrivaled knowledge of their respective regions. They are dedicated to providing tailored solutions for You and delivering seamless experiences for our esteemed clients.
Whether searching for your dream home or looking to sell your property at its optimal value, Southern Bell Living is here to ensure that your real estate journey and experience are nothing short of extraordinary. Experience excellence with our agents and discover a world where luxury meets reality.
What Sets The Top 1% Agents Apart From Others?
Regarding the global collective realm, the top 1% of agents stand out for several compelling reasons. First and foremost, these agents possess an unmatched level of expertise in their respective fields. With years of experience and a deep understanding of the market dynamics, they can easily navigate complexities, ensuring optimal client outcomes.
Furthermore, what truly sets these agents apart is their unwavering commitment to providing world-class service. Our agents prioritize building solid relationships with their clients, taking the time to understand their profiles and goals. Southern Bells agents offer personalized guidance and support to ensure that clients feel heard and valued.
In addition to our expertise and dedication, the top 1% of agents on our Team exhibit exceptional negotiation skills. They can analyze market trends and leverage this knowledge to secure favorable deals for their clients. Their strategic approach allows them to maximize profits for sellers while ensuring advantageous terms for buyers.
Ultimately, this combination of expertise, commitment, and negotiation prowess distinguishes these agents within the global collective realm.
How Realm Global Collective Identifies The Top 1% Agents
At Realm Global Collective, they understand the significance of identifying the top 1% of agents in the real estate industry. They interview and employ a rigorous selection process to ensure we collaborate with only the most exceptional professionals.
First and foremost, they analyze an agent's track record and examine their previous performance. This includes assessing their sales volume, transaction frequency, and client satisfaction ratings. Consistent success indicates an agent's expertise and ability to deliver exceptional results.
Furthermore, they evaluate an agent's market knowledge and specialization. The top 1% of agents possess a deep insight and understanding of local markets and can provide valuable insights to clients. Realm looks for agents with a proven track record in their specific geographical area or niche market.
Finally, they consider an agent's commitment to ongoing professional development and innovation. The real estate industry is constantly evolving, and agents who stay updated with industry trends are better equipped to navigate complex transactions successfully.
By carefully considering these criteria, Realm Global Collective ensures that only the best of the best-become part of our exclusive network of top 1% agents.
The Benefits Of Working With A Top 1% Agent From Realm Global Collective
Partnering with a Top Agent can make all the difference when buying or selling property. These highly skilled professionals have successfully established themselves among the elite in the industry, providing unparalleled expertise and service to all colleagues and clients.
One of the key attributes and benefits of working with a top agent is their extensive market knowledge. These agents understand local trends, pricing strategies, and negotiation tactics that can help you achieve optimal results. Their vast network and connections within the industry through <a target="_blank" href="https://www.instagram.com/realm_global/" class="editor-rtfLink">REALM/Instagram</a> also allow them access to off-market properties or exclusive listings that might only be available to some of the public.
Moreover, our agents are renowned for their exceptional customer service. They prioritize client satisfaction above all else and go above and beyond to ensure a smooth transaction process. From helping you navigate complex paperwork to providing valuable advice at every step, these agents offer unparalleled support throughout your real estate journey.
Success Stories: Real Estate Deals Closed By Top 1% Agents
Within the global collective, a select group of elite agents known as the <a target="_blank" href="https://www.fastexpert.com/agents/john-bell-42229/" class="editor-rtfLink">Top 1%</a> Agents has consistently demonstrated their prowess in closing remarkable real estate deals. These success stories serve as testimonies to their exceptional skills and expertise. One such story revolves around a luxurious waterfront property that seemed impossible to sell due to its hefty price tag. However, a Top 1% Agent took on the challenge and devised an ingenious marketing strategy that attracted high-net-worth individuals from around the globe.
The agent successfully closed the deal at an impressive price through meticulous negotiations and leveraging their extensive network, exceeding all expectations. In another case, a historic mansion with significant renovation needs posed a daunting task for most agents. Nevertheless, a Top 1% Agent recognized its hidden potential and connected with visionary investors who saw beyond its dilapidated state. With expert guidance throughout the restoration process, this agent orchestrated a transformative sale that revitalized the property and generated substantial returns for all parties involved.
Exclusive Services Offered By The Top 1% Agents At Realm Global Collective
At Realm Global Collective, our top 1% agents provide unparalleled service to our esteemed clientele. With their extensive expertise and unwavering dedication, our agents offer exclusive services designed to exceed expectations and deliver exceptional results. One of the key benefits of working with our top 1% agents is their access to an extensive network of influential individuals and industry connections.
Leveraging these relationships, they can secure off-market listings and provide clients with exclusive opportunities unavailable to the general public. Additionally, our top 1% agents are skilled negotiators with a deep understanding of market dynamics. They use this knowledge to ensure clients receive the best possible deals when buying or selling properties. Their ability to navigate complex transactions, anticipate market trends, and analyze data sets them apart from other real estate professionals.
Furthermore, our agents prioritize personalized attention and tailored solutions. They take the time to understand each client's needs and preferences, offering customized strategies that align with their goals.
Conclusion: Trusting The Expertise Of Realm Global Collective's Top 1% Agents
In conclusion, trusting the expertise of Realm Global Collective's top 1% agents is an investment in quality and excellence. These exceptional professionals have proven themselves to be the cream of the crop in the real estate industry, consistently delivering outstanding results for their clients.
By harnessing their extensive knowledge, experience, and market insights, these top-performing agents can uniquely navigate the complexities of the real estate market with precision. Their deep understanding of local trends and conditions enables them to provide invaluable guidance and advice throughout every stage of buying or selling a property.
We are so excited to have been picked to join this exclusive Company. We look forward to demonstrating our skills and helping all of our clients along the way!
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2024-01-22T09:13:20-07:002024-01-30T23:00:50-07:00John Belltag:southernbellliving.com,2012-09-20:18328Exploring The Top 10 Best Places To Retire In South CarolinaExploring The Top 10 Best Places To Retire In South Carolina
Retirement is an exciting phase of life that offers the opportunity to relax, explore new interests, and enjoy a slower pace. With its warm climate, beautiful landscapes, and vibrant communities, South Carolina has become a popular destination for retirees seeking an idyllic place to spend their golden years. In this blog, we will delve into the top 10 best places to retire in South Carolina and discover what makes each location unique.
"Retirement is a time for new beginnings, a chance to explore interests, pursue passions, and simply savor life's finer things." <a target="_blank" href="https://studyfinds.org/best-places-to-retire/" class="editor-rtfLink">[0]</a>
"South Carolina, with its warm climate, rich history, and Southern charm, has become a haven for retirees seeking a peaceful and enjoyable lifestyle." <a target="_blank" href="https://medium.com/@ericstegall/top-3-things-to-consider-before-retiring-to-south-carolina-004ac0799516" class="editor-rtfLink">[1]</a>
"If you are thinking about the places to retire in South Carolina, this website is your source for information and insight into the best places to retire in South Carolina." <a target="_blank" href="https://www.topretirements.com/state/south%20carolina/" class="editor-rtfLink">[2]</a>
From charming coastal towns to picturesque mountain retreats, South Carolina offers diverse retirement options that cater to various preferences and lifestyles. Whether you dream of waking up to breathtaking ocean views or prefer the tranquility of rolling hills and pristine lakes, there is a perfect spot for everyone in this charming southern state. While exploring these top retirement destinations in South Carolina, we will highlight their natural beauty and highlight their cultural offerings, healthcare facilities, recreational activities, cost of living considerations, and more.
"Whether you want to retire by the coast and water, beach or mountains, South Carolina offers many great options." <a target="_blank" href="https://investingfuse.com/retirement/best-places-to-retire-in-south-carolina/" class="editor-rtfLink">[3]</a>
"Thanks to its central location in the state, its residents are never too far away from the ocean or the mountains, and they enjoy a myriad of natural landmarks such as the lush Congaree National Park and Lake Murray." <a target="_blank" href="https://www.travelandleisure.com/best-places-to-live-in-south-carolina-7551362" class="editor-rtfLink">[4]</a>
"Residents can stroll along sandy beaches, explore historic downtowns, take in cultural attractions, enjoy outdoor recreation, and soak up the famous southern hospitality when choosing to retire in South Carolina." <a target="_blank" href="https://www.thetravel.com/best-places-to-retire-south-carolina/" class="editor-rtfLink">[5]</a>
By providing comprehensive insights into each location's strengths and potential drawbacks as a retirement haven, we aim to help you make an informed decision about your next chapter. So please sit back and let us guide you through the enchanting world of retirement possibilities in South Carolina.
"This article highlights ten such locations, providing insights and research to help retirees make an informed decision about where to settle down." <a target="_blank" href="https://www.energyportal.eu/10-places-to-retire-that-are-just-like-arizona-but-way-cheaper/" class="editor-rtfLink">[6]</a>
"To retire to South Carolina is to one of the most fascinating and beautiful places we know on earth." <a target="_blank" href="https://www.actsretirement.org/latest-retirement-news/blog/2017/4/19/10-good-reasons-to-retire-to-south-carolina/" class="editor-rtfLink">[7]</a>
Understanding The Key Factors For An Optimal Retirement Location
Choosing the perfect retirement destination is a significant decision that requires careful consideration. When it comes to finding the ideal place to retire in South Carolina, retirees should consider several vital factors. First and foremost, climate is essential in determining an optimal retirement location. South Carolina boasts a mild climate with mild summers and relatively warm winters, making it an attractive choice for those seeking pleasant year-round weather.
"Deciding where to move or retire is a significant life choice that requires careful consideration." <a target="_blank" href="https://www.rosewoodcommunities.com/news/2023/8/14/discover-the-charms-of-clemson-south-carolina-a-perfect-place-to-move-or-retire" class="editor-rtfLink">[8]</a>
"Key factors like cost of living and healthcare are crucial when checking out the best cities to retire in South Carolina." <a target="_blank" href="https://sunlightliving.com/best-places-to-retire-in-south-carolina/" class="editor-rtfLink">[9]</a>
"When deciding where to retire, one should consider the state's climate." <a target="_blank" href="https://www.kiawahisland.com/the-island/south-carolina-vs-florida-retirement/" class="editor-rtfLink">[10]</a>
"Moreover, the moderate climate of South Carolina, with warm summers and relatively mild winters, makes it an ideal destination for retirees looking to avoid harsh winter weather." <a target="_blank" href="https://finance.yahoo.com/news/16-best-places-live-south-190224535.html" class="editor-rtfLink">[11]</a>
Secondly, access to quality healthcare services is essential for retirees. South Carolina offers an extensive network of hospitals, clinics, and medical facilities nationwide, ensuring that retirees can access top-notch healthcare professionals and services conveniently. Another crucial factor is the cost of living. Retirees often seek locations where their fixed incomes can stretch further. Fortunately, South Carolina has a relatively low cost of living compared to other states while still offering a high standard of living.
"Healthcare Services: Healthcare is a crucial factor to consider, especially when retiring." <a target="_blank" href="https://www.rosewoodcommunities.com/news/2023/8/14/discover-the-charms-of-clemson-south-carolina-a-perfect-place-to-move-or-retire" class="editor-rtfLink">[8]</a>
"If access to medical facilities is among your primary concerns in looking for places to retire in South Carolina, Charlestons Medical University of South Carolina has a Center on Aging." <a target="_blank" href="https://sunlightliving.com/best-places-to-retire-in-south-carolina/" class="editor-rtfLink">[9]</a>
"A range of affordable housing and no state income tax might be attractive to some retirees." <a target="_blank" href="https://www.travelandleisure.com/trip-ideas/senior-travel/best-places-retire-us" class="editor-rtfLink">[12]</a>
"Beyond taxes, the overall cost of living in South Carolina is relatively low compared to many other states." <a target="_blank" href="https://themartinfreemangroup.com/south-carolina-retirement-taxes/" class="editor-rtfLink">[13]</a>
Additionally, recreational activities and amenities are vital for retirees looking to enjoy their newfound leisure time. With its stunning coastline, picturesque lakes and rivers, and vibrant cultural scene, South Carolina provides ample outdoor adventures and cultural experiences. Lastly, community engagement is important during retirement years. South Carolina offers numerous active senior communities and social clubs where retirees can connect with like-minded individuals and engage in various activities tailored to their interests.
"We also explored the recreational activities and attractions available to ensure you have fun in retirement." <a target="_blank" href="https://smartasset.com/retirement/best-places-to-retire-in-south-carolina" class="editor-rtfLink">[14]</a>
"Whether you are drawn to the golf courses, picturesque beaches, or the vibrant communities designed for active adults, South Carolina provides a welcoming environment." <a target="_blank" href="https://www.rightfindhomes.com/blog/best-places-retire-south-carolina/" class="editor-rtfLink">[15]</a>
"Community: Finding a welcoming community is essential for a fulfilling retirement." <a target="_blank" href="https://studyfinds.org/best-places-to-retire/" class="editor-rtfLink">[0]</a>
"From community events and festivals to volunteer opportunities and clubs, Spartanburg offers retirees numerous ways to connect with their neighbors and forge meaningful connections, creating a fulfilling and socially rich retirement experience." <a target="_blank" href="https://www.noradarealestate.com/blog/best-places-to-retire-in-south-carolina/" class="editor-rtfLink">[16]</a>
Unveiling South Carolina's Unique Appeal For Retirees
When choosing the perfect retirement place, South Carolina is a hidden gem among the many options available. With its enchanting landscapes, rich history, and vibrant culture, this southeastern state offers retirees a unique and appealing lifestyle. One key factor that makes South Carolina an attractive retirement destination is its favorable climate. The state experiences mild winters and warm summers, allowing retirees to enjoy outdoor activities all year round.
"South Carolina offers retirees many attractive options for retirement destinations." <a target="_blank" href="https://www.noradarealestate.com/blog/best-places-to-retire-in-south-carolina/" class="editor-rtfLink">[16]</a>
"Known for its picturesque landscapes, a warm climate, rich history, and a vibrant lifestyle, this state presents an ideal destination for those looking forward to an active retirement ." <a target="_blank" href="https://www.terrabellaseniorliving.com/senior-living-blog/the-perks-of-moving-to-south-carolina-to-make-your-active-retirement-dream-come-true/" class="editor-rtfLink">[17]</a>
"With a mild climate and diverse landscape, it is no surprise South Carolina is one of the best places to retire in the United States." <a target="_blank" href="https://www.kiawahisland.com/lifestyle/retire-south-carolina/" class="editor-rtfLink">[18]</a>
"The state enjoys mild temperatures year-round, so you can enjoy all your favorite outdoor activities without dealing with extreme heat or extended snow storms." <a target="_blank" href="https://dominionseniorliving.com/anderson/six-reasons-retirement-communities-south-carolina/" class="editor-rtfLink">[19]</a>
Whether strolling along the pristine beaches or exploring the picturesque mountains, South Carolina offers diverse natural wonders. In addition to its natural beauty, South Carolina boasts a rich history that captivates retirees seeking intellectual stimulation. From historic Charleston with its charming cobblestone streets and antebellum architecture to Beaufort's quaint charm and preserved colonial structures, there is no shortage of historical landmarks waiting to be discovered.
"South Carolina offers you much relief from the sight of modern architecture by immersing you in the gorgeous beauty of its landscapes, ranging from towering mountains to breathtaking coastlines." <a target="_blank" href="https://www.retirefearless.com/post/benefits-of-retiring-in-south-carolina-pros-cons" class="editor-rtfLink">[20]</a>
"South Carolina boasts a rich cultural heritage, beautiful landscapes, and a variety of recreational activities." <a target="_blank" href="https://themartinfreemangroup.com/south-carolina-retirement-taxes/" class="editor-rtfLink">[13]</a>
"And for a touch of history, the Colonial Dorchester State Historic Site offers a glimpse into South Carolina's colonial past with its preserved fort ruins and archaeological treasures." <a target="_blank" href="https://vibrantaginginsider.com/retirement/best-places-to-retire-in-south-carolina/" class="editor-rtfLink">[21]</a>
South Carolina also prides itself on its vibrant culture. The state is renowned for its delicious cuisine, rooted in Southern traditions such as shrimp and grits or mouthwatering barbecue. Furthermore, the thriving arts scene provides retirees endless opportunities to immerse themselves in music festivals, art galleries, and theatrical performances. In conclusion, South Carolina offers retirees an unparalleled retirement experience with its breathtaking landscapes, captivating history, and lively culture.
"South Carolina boasts a vibrant art and music scene." <a target="_blank" href="https://www.terrabellaseniorliving.com/senior-living-blog/the-perks-of-moving-to-south-carolina-to-make-your-active-retirement-dream-come-true/" class="editor-rtfLink">[17]</a>
"The traditional Southern cuisine here offers a delectable blend of flavors, with barbecue, shrimp and grits, fried chicken, and biscuits being among the local favorites." <a target="_blank" href="https://www.terrabellaseniorliving.com/senior-living-blog/the-perks-of-moving-to-south-carolina-to-make-your-active-retirement-dream-come-true/" class="editor-rtfLink">[17]</a>
"With local art galleries, craft markets, music festivals, and live theater, it provides plenty of opportunities for creative exploration and entertainment." <a target="_blank" href="https://www.terrabellaseniorliving.com/senior-living-blog/the-perks-of-moving-to-south-carolina-to-make-your-active-retirement-dream-come-true/" class="editor-rtfLink">[17]</a>
"From mild weather and outdoor activities to cultural experiences and world-class amenities, retiring in South Carolina promises an enriching and fulfilling retirement." <a target="_blank" href="https://www.noradarealestate.com/blog/best-places-to-retire-in-south-carolina/" class="editor-rtfLink">[16]</a>
Analyzing The Criteria For Selecting The Best Retirement Spots In South Carolina
Choosing the perfect retirement destination can be daunting, but South Carolina offers many attractive options. Various criteria should be considered when considering the best places to retire in this charming southern state. First and foremost, climate plays a significant role in retirement decisions. South Carolina's diverse geography provides retirees with an array of climates to choose from.
"South Carolina is one of the many amazing places to retire in the United States, but there is no shortage of amazing retirement destinations." <a target="_blank" href="https://www.sunboundhomes.com/blog/why-south-carolina-is-a-great-place-to-retire" class="editor-rtfLink">[22]</a>
"Our list of the best places to retire in South Carolina will bring to light the most beautiful and retirement-friendly cities the state offers." <a target="_blank" href="https://investmentu.com/best-places-to-retire-in-south-carolina/" class="editor-rtfLink">[23]</a>
"While taxes are a crucial consideration, they are not the only factors influencing retirement decisions." <a target="_blank" href="https://themartinfreemangroup.com/south-carolina-retirement-taxes/" class="editor-rtfLink">[13]</a>
"Due to these varied options, retirees have access to some of the best retirement places in South Carolina." <a target="_blank" href="https://mylifesite.net/states/best-retirement-places-in-south-carolina/" class="editor-rtfLink">[24]</a>
The coastal areas offer mild winters and warm summers, while the Upstate region boasts cooler temperatures and picturesque mountain views. Another crucial factor is affordability. Retirees often seek locations that offer a lower cost of living without compromising on quality amenities and services. South Carolina provides numerous communities that balance affordability with excellent healthcare facilities, recreational activities, and cultural offerings. Community engagement is also essential for retirees looking to build fulfilling social lives.
"The state coastal regions enjoy a subtropical climate characterized by warm summers and mild winters." <a target="_blank" href="https://retireinsouthcarolina.com/buying/reasons-to-retire-in-south-carolina/" class="editor-rtfLink">[25]</a>
"From location and affordability to the local amenities that matter most to retirees." <a target="_blank" href="https://showcaserealty.net/11-reasons-why-charlotte-nc-is-the-perfect-place-to-retire/" class="editor-rtfLink">[26]</a>
"Affordable housing options, coupled with the availability of quality healthcare and recreational amenities, make South Carolina a haven for those looking to embrace a comfortable and economically sound retirement." <a target="_blank" href="https://www.rightfindhomes.com/blog/best-places-retire-south-carolina/" class="editor-rtfLink">[15]</a>
"Retirees can stay active and involved in their community." <a target="_blank" href="https://showcaserealty.net/11-reasons-why-charlotte-nc-is-the-perfect-place-to-retire/" class="editor-rtfLink">[26]</a>
Communities with active senior centers, clubs, and events encourage social interaction among residents and provide opportunities for new friendships. Access to quality healthcare is non-negotiable when selecting a retirement spot. South Carolina has several renowned medical institutions nationwide, ensuring retirees have access to top-notch healthcare services. Lastly, proximity to shopping centers, restaurants, parks, and cultural attractions should be considered when evaluating potential retirement spots.
"The Davis Community has a dedicated club room where senior living community members can get together and participate in various activities or simply socialize with one another." <a target="_blank" href="https://thedaviscommunity.org/2022/10/15/plan-ahead-for-independent-living/" class="editor-rtfLink">[27]</a>
"The most important thing for retirees is healthcare, and North Charleston has one of the best healthcare services in South Carolina." <a target="_blank" href="https://www.terrabellaseniorliving.com/senior-living-blog/what-is-it-like-when-you-retire-in-north-charleston-sc/" class="editor-rtfLink">[28]</a>
"When choosing a retirement spot, consider the amenities that matter most to you, whether it is a serene natural environment, cultural attractions, or easy access to healthcare facilities." <a target="_blank" href="https://medium.com/@ericstegall/top-3-things-to-consider-before-retiring-to-south-carolina-004ac0799516" class="editor-rtfLink">[1]</a>
Easy access to these amenities enhances retirees' overall quality of life.
The Top 10 Best Places To Retire In South Carolina: A Detailed Overview
Retirement is a time to relax, enjoy life, and embrace new adventures. With its warm climate, friendly communities, and stunning natural beauty, South Carolina has become popular for retirees seeking the perfect place to call home. In this detailed overview, we will explore the top 10 best places to retire in South Carolina. 1. Charleston: Known for its rich history and vibrant culture, Charleston offers retirees a charming coastal lifestyle with plenty of recreational activities.
"Retirement is a time to relax, explore new horizons, and enjoy the fruits of your labor." <a target="_blank" href="https://www.mihomes.com/blog/all/best-states-to-retire-in" class="editor-rtfLink">[29]</a>
"With its mild climate and hospitable Southern charm, South Carolina presents an ideal destination for retirees seeking a balanced, enjoyable lifestyle." <a target="_blank" href="https://thefrugalexpat.com/fantastic-places-to-retire-in-south-carolina/" class="editor-rtfLink">[30]</a>
"The result was a list of the top 10 best places to retire in South Carolina." <a target="_blank" href="https://smartasset.com/retirement/best-places-to-retire-in-south-carolina" class="editor-rtfLink">[14]</a>
"Although Charleston can be touristy and transient, retirement in Charleston, SC is great if you love culture, history, and access to every amenity you want." <a target="_blank" href="https://retirable.com/advice/lifestyle/10-best-cities-to-retire-in-south-carolina" class="editor-rtfLink">[31]</a>
2. Greenville: Nestled in the foothills of the Blue Ridge Mountains, Greenville boasts a thriving arts scene and picturesque landscapes that appeal to nature enthusiasts. 3. Hilton Head Island: With its pristine beaches and world-class golf courses, Hilton Head Island provides retirees with luxurious living in a resort-style setting. 4. Beaufort: This historic coastal town exudes Southern charm and offers retirees breathtaking waterfront views and a relaxed pace of life.
"Situated in the upstate region along the foothills of the Blue Ridge Smokey Mountains, Greenville is a hub for entertainment and adventure." <a target="_blank" href="https://www.kiawahisland.com/lifestyle/retire-south-carolina/" class="editor-rtfLink">[18]</a>
"Hilton Head Island is a paradise for those seeking a retirement destination that offers stunning beaches and world-class golf courses." <a target="_blank" href="https://www.noradarealestate.com/blog/best-places-to-retire-in-south-carolina/" class="editor-rtfLink">[16]</a>
"Beaufort: Retirees can relish in the historic coastal charm of this town, with antebellum architecture, museums, and outdoor activities like boating and fishing." <a target="_blank" href="https://www.thetravel.com/best-places-to-retire-south-carolina/" class="editor-rtfLink">[5]</a>
5. Mount Pleasant: Located just outside Charleston, Mount Pleasant combines small-town charm with modern amenities and easy access to beaches. 6. Pawleys Island: Known for its laid-back vibe and beautiful beaches, Pawleys Island is an ideal spot for retirees seeking tranquility and natural beauty. 7.
"Mount Pleasant offers the best suburban living with the charm of a coastal town situated just across the bridge from Charleston." <a target="_blank" href="https://thefrugalexpat.com/fantastic-places-to-retire-in-south-carolina/" class="editor-rtfLink">[30]</a>
"Known for its pristine beaches, lush scenery, and world-class golf courses, the island is a popular destination for tourists and residents who seek a tranquil and secluded getaway." <a target="_blank" href="https://www.seafields.com/south-carolinas-beaches-and-coastal-living-exploring-retirement-by-the-sea/" class="editor-rtfLink">[32]</a>
Conclusion: Embracing The Ideal Retirement Lifestyle In Beautiful South Carolina
In conclusion, South Carolina is an exceptional choice for retirees seeking an idyllic place to spend their golden years. With its warm climate, breathtaking natural beauty, and rich cultural heritage, the state offers diverse options catering to varying retirement preferences. Whether you long for coastal living or prefer the tranquility of the mountains, South Carolina has something for everyone.
"South Carolina is an enticing destination for retirees seeking an affordable yet fulfilling lifestyle." <a target="_blank" href="https://www.rightfindhomes.com/blog/best-places-retire-south-carolina/" class="editor-rtfLink">[15]</a>
"Beyond the financial aspect, the state boasts a moderate climate, picturesque landscapes, and a rich cultural heritage, enhancing the overall retirement experience." <a target="_blank" href="https://www.rightfindhomes.com/blog/best-places-retire-south-carolina/" class="editor-rtfLink">[15]</a>
"From mountains to lakes to rivers and beaches, whatever your preference for outdoor adventure, South Carolina is bound to have what you are looking for." <a target="_blank" href="https://www.sunboundhomes.com/blog/why-south-carolina-is-a-great-place-to-retire" class="editor-rtfLink">[22]</a>
The vibrant cities of Charleston and Greenville provide a perfect blend of urban amenities and charm. Meanwhile, Hilton Head Island and Myrtle Beach offer gorgeous beaches and recreational activities. Moreover, South Carolina boasts a lower cost of living compared to many other retirement destinations in the United States. This allows retirees to stretch their savings further and enjoy a comfortable lifestyle without compromising quality.
"South Carolina's charming coastal towns and historic cities like Charleston make it an appealing destination for retirees." <a target="_blank" href="https://districtlending.com/10-best-states-to-retire-in/" class="editor-rtfLink">[42]</a>
"Hilton Head Island, known for its beaches and golf courses, is a great place to retire." <a target="_blank" href="https://www.wmbfnews.com/2022/03/07/best-places-retire-east-coast/" class="editor-rtfLink">[43]</a>
"South Carolina generally boasts a lower cost of living than many other states, making it an attractive option for retirees on a budget." <a target="_blank" href="https://medium.com/@ericstegall/top-3-things-to-consider-before-retiring-to-south-carolina-004ac0799516" class="editor-rtfLink">[1]</a>
"This affordability contributes to a higher quality of life, enabling retirees to enjoy their golden years without financial stress." <a target="_blank" href="https://themartinfreemangroup.com/south-carolina-retirement-taxes/" class="editor-rtfLink">[13]</a>
Additionally, healthcare facilities in South Carolina are top-notch, ensuring that retirees can access excellent medical services. The state also offers numerous opportunities for continued learning through its renowned universities and lifelong learning programs. By choosing South Carolina as your retirement destination, you can indulge in various outdoor pursuits such as golfing, fishing, hiking, or strolls amidst picturesque landscapes.
"Spartanburg boasts a robust healthcare system, providing retirees access to top-notch medical facilities and specialized care." <a target="_blank" href="https://www.noradarealestate.com/blog/best-places-to-retire-in-south-carolina/" class="editor-rtfLink">[16]</a>
"The university also has a lifelong learning program that offers a variety of courses, as well as day trips and symposiums, for adults." <a target="_blank" href="https://www.neamb.com/retirement-planning/23-cheap-places-where-you-will-want-to-retire" class="editor-rtfLink">[44]</a>
"With expertly crafted communities across various locales and a consistently mild climate conducive to year-round outdoor activities like golf and fishing, South Carolina beckons as an ideal destination for affordable and enjoyable retirement living." <a target="_blank" href="https://www.rightfindhomes.com/blog/best-places-retire-south-carolina/" class="editor-rtfLink">[15]</a>
Additionally, you can immerse yourself in the state's rich history by exploring its historic sites and museums.
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"10 Best States to Retire In Right Now! [2023] - District Lending", districtlending.com, Unknown, <a target="_blank" href="https://districtlending.com/10-best-states-to-retire-in/">https://districtlending.com/10-best-states-to-retire-in/</a>, Web, Accessed 22. Dec 2023
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"Best places to retire on the East Coast", wmbfnews.com, Unknown, <a target="_blank" href="https://www.wmbfnews.com/2022/03/07/best-places-retire-east-coast/">https://www.wmbfnews.com/2022/03/07/best-places-retire-east-coast/</a>, Web, Accessed 22. Dec 2023
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2023-12-21T20:14:22-07:002023-12-21T21:16:52-07:00John Belltag:southernbellliving.com,2012-09-20:17482Top 5 Beaches in Charleston, SC: Discover the Perfect Coastal EscapesTop 5 Beaches in Charleston, SC: Discover the Perfect Coastal Escapes
Introduction
Regarding breathtaking coastal destinations, Charleston, SC, stands out as a true gem of the South. Best known for its historic charm and vibrant culture, this picturesque city also boasts many stunning beaches that attract visitors worldwide. This article explores the top five beaches in Charleston, SC, each offering unique appeal and beauty. Whether you're a a traveler seeking a coastal escape or a local looking for a weekend getaway, these sandy shores will undoubtedly leave you mesmerized. Let's dive in!
1. Folly Beach- <a href="https://visitfolly.com/">Folly Beach</a>
Folly Beach, affectionately known as "The Edge of America," is an iconic destination offering a mix of natural beauty, water sports, and a laid-back atmosphere. This family friendly beach is located just a short drive from downtown Charleston, making it easily accessible for locals and tourists alike. With its vast expanse of soft sand, Folly Beach is perfect for building sandcastles, bathing in the sun and leisurely strolls along the shoreline.
For adventurous souls, Folly Beach provides excellent surfing, paddleboarding, and kayaking opportunities. The Folly Beach County Park features amenities like picnic spots, restrooms, and showers, ensuring a comfortable and enjoyable beach experience.
2. Isle of Palms- <a href="https://www.charlestoncvb.com/beaches/isle-of-palms/">Isle of Palms: A Top Resort & Miles of Oceanfront Fun</a>
If you seek a luxurious beach getaway, look no further than Isle of Palms. This upscale beach community offers pristine white sand and clear blue waters, creating a postcard-worthy setting. Popular among families and couples, Isle of Palms is ideal for beach volleyball, beachcombing, and dolphin-watching tours.
Sullivan's Island, situated nearby, is a must-visit for history enthusiasts, as it houses the historic Fort Moultrie and picturesque lighthouses. The Wild Dunes Resort on Isle of Palms provides lavish accommodations and world-class amenities for those who prefer a touch of indulgence during their beach vacation.
3. Sullivan's Island- <a href="https://www.charlestoncvb.com/beaches/sullivans-island/">Sullivan's Island Beach | Plan Your Sullivans Beach Vacation</a>
Nestled between the Atlantic Ocean and Charleston Harbor, Sullivan's Island offers a quaint and serene beach experience. Known for its preserved maritime forests and Civil War history, this beach is a haven for nature lovers and history buffs. Take a relaxing walk along the picturesque beachfront, or explore the tidal pools teeming with marine life.
Unlike some of the livelier beaches in the area, Sullivan's Island offers a peaceful escape, making it an ideal spot for solo travelers or couples seeking tranquility and a chance to reconnect with nature.
4. Kiawah Island Beach- <a href="https://kiawahresort.com/">Kiawah Island Golf Resort</a>
For an unspoiled and secluded coastal paradise, Kiawah Island Beach is a must-visit. Accessible through the Kiawah Island Golf Resort, this beach boasts an untouched beauty with its dunes, marshes, and many native wildlife. The pristine beach is perfect for shell hunting, birdwatching, and long, reflective walks amidst nature's wonders.
Whether you're an avid golfer or not, the Kiawah Island Golf Resort offers world-class accommodations and amenities, ensuring an unforgettable stay in this coastal haven.
5. Edisto Beach- <a href="https://www.townofedistobeach.com/">Edisto Beach</a>
Edisto Beach is the ultimate destination if you're looking for a more rustic and off-the-beaten-path experience. With its laid-back environment and lack of commercialization, Edisto Beach provides a true escape from the hustle and bustle of daily life. Enjoy the natural beauty of this beach through activities like crabbing, shelling, and kayaking in the serene salt marshes.
Edisto Beach State Park offers campsites and cabins, making it an excellent choice for those seeking a back-to-nature camping adventure with a beachfront view.
Conclusion
Charleston, SC, is undoubtedly a coastal paradise with its diverse range of beaches, each offering its unique charm and appeal. From the vibrant energy of Folly Beach to the luxury of Isle of Palms, the serenity of Sullivan's Island, the untouched beauty of Kiawah Island Beach, and the rustic allure of Edisto Beach, there's a perfect beach for every traveler. So, pack your sunscreen and get ready for an unforgettable beach getaway to Charleston, SC, where natural beauty and relaxation await at every turn.2023-08-07T09:39:04-07:002023-12-21T20:04:02-07:00John Belltag:southernbellliving.com,2012-09-20:13420Best Places to Live in Charleston SC - Mount PleasantLooking for a Home in Mount Pleasant?
<img src="https://assets.site-static.com/userfiles/1830/image/Blog_Images/Mount_Pleasant_Homes/Homes_Ryland.jpg" width="1000" height="667" alt="Carolina park homes in Mount Pleasant, SC" title="Mount Pleasant Homes" />
Mount Pleasant is one of the best places to live in Charleston, SC. It is a lovely, safe community right outside downtown Charleston. It is perfect for a family who wants the suburban home lifestyle but would still love to experience all downtown Charleston has to offer within minutes. Take a look:
<a href="https://www.tripadvisor.com/Attractions-g54354-Activities-Mount_Pleasant_South_Carolina.html">THE 15 BEST Things to Do in Mount Pleasant - 2023 (with Photos) - Tripadvisor</a>
If you are looking for your dream home in South Carolina and want a place you can plant your roots and raise your family, Mount Pleasant is worth considering. With excellent prices and stunning homes, you will find something you can grow your family in.
Happy is the Name!
<img src="https://assets.site-static.com/userfiles/1830/image/Blog_Images/Mount_Pleasant_Homes/Shem-Creek-Hero-1.jpg" width="1600" height="1067" alt="Shem Creak Mount Pleasant, SC at Sunset" title="Shem Creek Mount Pleasant, SC" />
Mount Pleasant is a happy place to be. The homes are gorgeous, and the community is very family-friendly. Whether you are just married, single, and want a family someday, or you already have children and want to find you forever home, Southern Bell Living can help you find a dream home within the community of Mount Pleasant. Home to the best schools, <a href="https://www.publicschoolreview.com/south-carolina/mount-pleasant">Top 10 Best Mount Pleasant, SC Public Schools (2023)</a>, great dining and shopping, and all-around stunning scenery, you will love it here!
Things to Consider When Buying a Home in South Carolina
<img src="https://assets.site-static.com/userfiles/1830/image/Blog_Images/Mount_Pleasant_Homes/original.jpg" width="1500" height="999" alt="Homes in ION Mount Pleasant, SC" title="Homes in Mount Pleasant, SC" />
If you are hunting for a new home in Southern Carolina, there are some things to consider. Buying a home is a significant investment. Your home will be where you plant your roots, where your children will grow up, and where most of your memories will be made.
As you think about the type of home you want to buy, consider all the things you know you can’t live without. What are your non-negotiables? Maybe it’s a certain number of bedrooms? Maybe having a large backyard where your kids and furry babies can run and play? Perhaps it’s living near the best school? Maybe it’s living within walking distance of yummy restaurants.
Whatever it is, ensure you know your non-negotiables, and we can help you fill in the rest. At Southern Bell Living, we understand that a home is more than just a purchase. It is everything. It is the beginning of a new chapter, often a big and important one. It is where you will experience love, laughter, and many memories. There is so much thought that should go into the perfect home, and we are here to help you figure out those pieces.
If you are looking for a home in South Carolina, we would be happy to show you some of the most beautiful homes in Mount Pleasant. You will fall in love with the area, just as we have!
2023-06-25T15:30:00-07:002023-06-25T15:43:34-07:00John Belltag:southernbellliving.com,2012-09-20:16398Charleston Home Warranties: Are They Worth It in 2023?<img src="https://assets.site-static.com/userfiles/1830/image/Blog_Images/Home_Warranties/2.jpg" width="2240" height="1260" alt="Blue Charleston Home Cutout surrounded by tools, nails, screws, etc on yellow background" title="Charleston Home Warranties" />
Home warranties have become increasingly popular across the country. Many people with these warranties enjoy peace of mind that they will not be financially responsible for major repairs. If something big breaks, the home warranty, in theory, will pay for it. Home warranties can cover particular issues that certain regions face, giving homeowners moving from out-of-state peace of mind that they won't encounter a situation they may never have even considered. For prospective Charleston buyers and sellers, are Charleston home warranties worth it in 2023? As we'll see, there's no clear-cut answer - it often depends on the house and your specific financial situation.
What Are Charleston Home Warranties?
<img src="https://assets.site-static.com/userfiles/1830/image/Blog_Images/Home_Warranties/4.jpg" width="2240" height="1260" alt="Charleston home warranty repair man working on a washing machineq" title="Charleston, SC Home Warranty Repair Man" />
Before getting into whether or not these warranties are worth it or not, it's first worth noting what exactly these Charleston home warranties are and what they cover.
Home warranties are effectively an insurance product. For example, you often get a warranty when buying a car. The manufacturer will cover any significant repair on the vehicle within the first few years or tens of thousands of miles. You can pay to extend that warranty for a few more years and tens of thousands of miles more at the dealership.
A home warranty is very similar - you pay a warranty company a fee upfront, and they will cover any cost to repair or replace something significant in your home within the first year. Most home warranties are for one year, but there are some shorter and longer-term plans.
Home warranties cover expenses related to appliances, HVAC systems, plumbing systems, electrical systems, and even things you may not expect, like garage door openers. These warranties typically do not include windows, doors, roofing, or cosmetic issues. Significant structural problems are usually under the purview of these warranties, while more minor things (like paint chipping) are not.
Why Are Home Warranties Valuable?
<img src="https://assets.site-static.com/userfiles/1830/image/Blog_Images/Home_Warranties/7.jpg" width="2240" height="1260" alt="Charleston homeowner dropping a coin into a pink piggy bank with plants in the background" title="Value of Charleston, SC Home Warranties" />
Consider the following scenario. Suppose you buy a home in Charleston and move into the house. You have a newly-minted <a href="https://www.southernbellliving.com/blog/types-of-mortgages-offered-in-charleston-sc/" target="_blank">mortgage</a>, and the dishwasher in your home starts leaking. Frantically, you call your home warranty company, which calls out an appliance repair technician, and they manage to pinpoint the cause. The problem is that the part is no longer available, so they cannot repair the dishwasher.
As the homeowner, you now have a mortgage and a non-functional dishwasher. A home warranty would cover replacing your dishwasher and getting the appliance repair technician out. What could have been a $1,500 expense is now $0, thanks to the home warranty.
A basic home warranty costs about $300 a year, while more comprehensive plans cost about $1,000. Regardless, in our hypothetical scenario, the plan holder comes out ahead.
There are three other primary benefits to Charleston home warranties.
Convenience
In our hypothetical example above, the plan holder may have come out ahead financially, but there's another significant benefit to the warranty: convenience.
As a new homeowner, you may not be familiar with the various companies that provide services in your area. In particular, if you're used to renting, you may not know whether to call a plumber, an appliance repair technician, or someone else. After all, maintenance usually handles all requests in an apartment.
With a home warranty provider, you can call them up, and they will arrange for the appropriate person to come out and fix your issue. It's much more straightforward for new homeowners than clicking search results to determine the right service for your problem!
Sellers Can Increase Their Home Value
Sellers can increase the value of their home by offering it with a warranty. Buyers feel reassured when they know they can purchase a property without worrying about significant repairs for the next year or so. That peace of mind can lead to higher offers and faster selling times (since more buyers will appreciate that the seller went that extra mile to ensure their experience in the home is pleasant!).
These Warranties Cover Charleston-Specific Issues
Home warranties in Charleston cover issues you may encounter when buying a home in this region. While these warranties don't cover damage due to natural disasters, they may provide some financial relief for homeowners who must repair or replace appliances and home systems after a hurricane or other tropical storm.
Additionally, homeowners looking to purchase one of Charleston's many <a href="https://www.southernbellliving.com/blog/see-the-top-5-most-notable-charleston-sc-historic-homes/" target="_blank">historic homes</a> should know that many of these older systems and appliances can be costly to repair or replace. Homes built 200 years ago are certainly not the same as homes built today. Unlike newer cities, home warranties in Charleston can help safeguard against unexpected and significant bills that sometimes come with owning an older home.
Read the Fine Print, Though
<img src="https://assets.site-static.com/userfiles/1830/image/Blog_Images/Home_Warranties/5.jpg" width="2240" height="1260" alt="Charleston, SC Home Owner Holding a Magnifying Glass while reviewing Home Warranty Fine Print" title="Charleston, SC Home Warranty Fine Print" />
While there are many benefits of Charleston home warranties, there are some downsides.
In particular, home warranties are often selective about what they do and do not cover. Many people erroneously assume that these warranties will cover everything when, in reality, what they will pay for is typically limited in scope.
For example, some home warranties won't cover swimming pools or solar panels. Home warranties also typically don't cover "pre-existing conditions," meaning that if the insurance company can prove a plumber incorrectly installed the pipe and that was what led to the burst, they have grounds to deny the claim. Home warranties can also deny claims based on improper maintenance. As you may imagine, both clauses give these companies reasonably wide latitude to deny claims.
Home warranties also frequently have coverage limits, which may not cover the total cost of a repair. For example, a home warranty may have a limit of $1,500 per HVAC system. If your compressor goes out, that could be a $3,000 bill, so you may still need to pay $1,500 on top of what the warranty provides to fix it.
Bottom line: read the fine print thoroughly. Ensure that the home warranty covers what you want and that the fine print doesn't give the company unreasonably broad latitude to deny claims.
Are Charleston Home Warranties Worth It in 2023?
<img src="https://assets.site-static.com/userfiles/1830/image/Blog_Images/Home_Warranties/6.jpg" width="2240" height="1260" alt="Charleston Home owner holding a post it note that has Worth it? Handwriting" title="Charleston Home Warranties worth the expense?" />
As you can likely tell from the above commentary, home warranties can be worth it. There are common scenarios where a home warranty can cover an unexpected expense when new homeowners are typically somewhat financially vulnerable (they have, after all, typically depleted some or all of their savings on a down payment). In these scenarios, a home warranty can be the difference between going further into debt or not.
However, many home warranties have excessive fine print, making it hard to file a successful claim. And, sometimes, homebuyers quickly learn that warranties don't cover everything they expect.
If you're a seller, offering a home warranty from a reputable company will often benefit your sales price. Usually, the seller comes out ahead overall. For a homebuyer, whether you're buying a home with a warranty or purchasing it independently, ensure it's from a trustworthy company and that you read the fine print. A home warranty can make a lot of sense if you're in a financial position where a significant repair would be hard to afford, and the warranty is from a trusted company with reasonable exclusions in the contract.
Please contact us using the form below if you would like to learn more about home warranties or <a href="https://www.southernbellliving.com/property-search/results/" target="_blank">find a new home </a>in beautiful, sunny Charleston with a warranty attached. <a href="https://www.southernbellliving.com/about/our-team/" target="_blank">Our team</a> of knowledgeable Charleston real estate agents would love to help you find your dream home.2023-05-04T06:27:40-07:002023-05-29T09:10:42-07:00Taylor Goldsberrytag:southernbellliving.com,2012-09-20:15989Closing Costs and Realtor Fees Here’s How Much You’ll Pay in Charleston, SC<img src="https://assets.site-static.com/userfiles/1830/image/Blog_Images/Closing_Costs_and_Realtor_Fees_Heres_How_Much_Youll_Pay_/Charleston_Real_Estate_Closing_Costs.jpg" width="1680" height="1120" alt="Happy Couple Shaking Hands with Charleston Real Estate Agent After Closing on Their Charleston, SC home" title="Charleston, SC Closing Costs" />
Buying a home in Charleston is an exhilarating and rewarding experience. This part of South Carolina is gorgeous, with exciting food, top-notch properties, and numerous fun things to do. If you're looking at properties online, you should know that the price you see is not the final price you'll pay. In slower markets, you can negotiate a discount; in hot markets, you may need to pay above the asking price. However, regardless of the market, the buyer and the seller must pay some fees and closing costs.
The good news is that these fees are not significant. The bad news is that most of these fees are unavoidable (or unadvisable to try to avoid paying). If you're buying or selling a home in Charleston, here's what you can expect to pay in closing costs and Realtor fees.
Common Closing Costs in Charleston, SC
Closing costs are the various costs associated with finalizing a real estate transaction. Depending on the terms negotiated in the purchase agreement, these fees can be paid by the buyer, the seller, or both.
Here's a list of the seven most common fees on a purchase document, including who typically pays them unless you negotiate differently.
1. Appraisal Fee (Buyer)
Before the bank can issue a loan, it must be confident that the property underwriting the loan has enough value. Legally, nothing stops someone from offering to buy a $200,000 property for $2 million, but it certainly would not make sense for the bank to issue such a large loan on a property that's only worth a mere fraction of the offer.
The bank orders an appraisal to ensure the value underlying asset is equal to or greater than the offer amount. During this process, the appraiser will survey the property and look for comparable properties in the neighborhood. They'll use statistically-valid methods to ensure that the offer on this property is in line with other homes in the area. The only way to avoid this fee is to pay for a home in cash.
For Charleston, SC, homes, appraisals typically cost between $300 and $500. The buyer must pay the fee, but the lender selects an appraiser they trust to go out and look at the property.
2. Home Inspection Fee (Buyer)
Unless the buyer explicitly waives this contingency (and it is generally not a good idea to do so), the buyer will usually arrange for a home inspection. During this process, an inspector will look at the property to document what needs fixing. An inspector is very valuable, as they can find issues that may require costly repairs before completing the purchase.
Home inspection costs typically range from $300 to $500, but they are worth it. The buyer can sometimes use the repairs noted by the inspector as leverage to request a reduction in the sale price. An experienced real estate agent can walk the purchaser through this step and often the buyer some money.
3. Title Search (Buyer)
The buyer typically pays for a title search as part of the closing costs, but this is a reasonably negotiable fee, and sometimes the documents state the seller will pay it. The results from that search are in the closing documents. A title search proves to the buyer that the property is free of liens and other encumbrances that would otherwise taint the sale. A clean title ensures nobody can claim the property in the future.
The fee for this search varies, but it's usually between $300 and $600.
4. Title Insurance Closing Costs (Buyer and Seller)
Title insurance defends the buyer in the case of a claim against the property in the future. Two policies must be active - one for the lender (if the buyer has one) and one for the buyer. Most of the time, title insurance is pretty cheap, and the buyer will pay for the lender's title insurance while the seller will pay for their insurance.
5. Transfer Tax/Deed Stamps (Seller)
South Carolina has a real estate transfer tax of $1.85 per $500 of the sales price. The seller typically pays this fee when transferring the property from the seller's name to the buyer.
For example, if the property's sales price is $500,000, this fee will be $1.85 * 1,000 = $1,850. The closing attorney will pay this fee directly to the County Register of Deeds.
6. Mortgage Origination Fees (Buyer)
Sometimes, <a href="https://www.southernbellliving.com/blog/types-of-mortgages-offered-in-charleston-sc/" target="_blank">mortgages</a> will have origination fees. These fees cover the cost of the lender to do all the underwriting, document verification, and disbursement of the funds. These fees vary from lender to lender but typically range from 0.5% to 1% of the total loan amount. Buyers can reduce these fees by putting more money down and eliminating them by paying for a home in cash.
7. Attorney Fees (Buyer and Seller)
Unlike some states, South Carolina mandates that buyers use a licensed attorney to handle and review all the paperwork. This attorney is optional for sellers but highly recommended to ensure all deal terms look good.
Fees for real estate attorneys typically range from $500 to $1,500. The buyer pays all costs associated with their attorney; likewise, if the seller chooses to retain one, the seller pays all the expenses related to theirs.
Closing Costs: Real Estate Agent Commissions
Sellers must also pay <a href="https://www.southernbellliving.com/blog/a-run-down-of-the-5-most-important-people-in-the-home-buying-process/" target="_blank">real estate agent</a> commissions for both the buyer and seller's agents. Usually, real estate agents charge 2.5%-3% of the home's value for their services, so the seller is looking at about 5%-6% of the sales price in agent fees.
While some sellers try to sell their homes independently to minimize these costs, a good agent is worth much more than the 3% commission. A top-quality agent helps sellers get the most money for their listings and ensures they don't accidentally do something that could result in significant headaches later.
Other Fees Are Possible
Buyers often elect to take out a home warranty, which typically goes into the closing costs. Buyers also need an annual insurance policy, which reflects in the closing costs (although it's not a one-time cost to close the deal, but rather a yearly policy that homeowners must pay).
Likewise, sellers sometimes have to make concessions as part of the home inspection findings. For example, a seller might agree to take $10,000 off the sales price after an inspector finds a major repair that will cost the buyer plenty of money to fix. This concession isn't a fee, per se, but it's not uncommon for sellers to make these concessions to coax a deal through.
Take Into Account the Closing Costs
On average, sellers will pay about 7% of their home's value, including real estate agent fees, in closing costs. Buyers typically pay between 2% and 5% of the home's value, but those fees depend on whether the buyer is using a lender or purchasing a home in cash. A cash purchase can cost significantly less, as the buyer can waive appraisals and inspections.
At <a href="https://www.southernbellliving.com/blog/3-reasons-to-pick-southern-bell-living-as-your-charleston-sc-real-estate-agents/" target="_blank">Southern Bell Living</a>, we have extensive experience buying and selling real estate for our clients. Given any property, we have a pretty good idea of the closing costs and how those costs could impact real estate decisions. If you're ready to buy or sell and want to start exploring some options, including what fees you may have to pay, <a href="https://www.southernbellliving.com/about/our-team/" target="_blank">we're here to help</a>! 2023-03-21T11:01:10-07:002023-10-19T14:46:53-07:00Taylor Goldsberrytag:southernbellliving.com,2012-09-20:15671South Carolina Property Tax: Understand Your Tax Bill Before You Buy<img src="https://assets.site-static.com/userfiles/1830/image/Blog_Images/South_Carolina_Property_Tax_Understand_Your_Tax_Bill_Before_You_Buy/Charleston_Area_Property_Tax_Blog_Image.jpg" width="1200" height="630" alt="Charleston Area Property Tax Folder in Filing Cabinet" title="Charleston Area Property Tax" />
Many prospective buyers want to know their property tax liability when buying a home. After all, most mortgages estimate both property tax and home insurance and add that to the monthly payment (the money goes into an escrow account the bank uses to pay the property tax bill). If you buy a home with a significant property tax rate, your monthly payment will be higher. You may have heard that South Carolina property tax rates are <a href="https://www.kiplinger.com/state-by-state-guide-taxes/south-carolina" target="_blank">among the absolute lowest in the United States</a>. They are, indeed, low.
However, it's still important to understand what type of bill you might be looking at (and if you come from a state like New Jersey, be prepared to be pleasantly surprised). Here's everything you need to know to figure out your tax bill.
South Carolina Property Tax: Calculating Your Bill for Charleston, Dorchester, and Berkeley Counties
As Southern Bell Living focuses on the local counties of Charleston, Dorchester, and Berkeley, this post will focus on how to calculate taxes there.
The formula is quite simple.
First, you take the fair market value of your home. Next, you multiply that by your assessment ratio. Multiply that once more by the millage rate. Subtract any potential deductions. Your result will be the amount of tax you owe!
As a formula, it's:
(FMV of your home x Assessment Ratio x Millage Rate) - (FMV of your home x Assessment Ratio x Property Tax Relief) = Tax You Owe
Let's explore each of these components in more detail without further ado.
Fair Market Value of Your Home
The first step to calculating your South Carolina property tax is understanding your home's fair market value. While there is no way to determine this value with 100% accuracy, you can typically ballpark it pretty well - at least well enough to accurately calculate your South Carolina property tax.
To understand what your fair-market home value will be, you have to take a look at comparable sales in the area. Don't look at other active listings. Look at what other homes have sold for, and look for homes similar to the one you want. Pretty soon, you'll have a good understanding of what your home's actual value is.
Assessment Ratio
If you want to buy a primary residence or a privately-owned (non-corporate) agricultural property, your assessment ratio is 4% or 0.04.
For all other real estate, including investment real estate, use 6% or 0.06 for the investment ratio.
Millage Rates
The millage rate is unique per county. One mill is equivalent to 1/1000th of a dollar. These rates vary from city to city and can change dramatically from city to unincorporated area. However, you can use the following averages to get a good sense of your property bill.
Charleston County average combined millage: 0.253
Berkeley County average combined millage: 0.304
Dorchester County average combined millage: 0.373
Deductions and Property Tax Relief
If you are buying your home and you are 65 years of age, or you are legally disabled, or you are legally blind, you can exempt up to $50,000 from the fair market value of your home. So, if your home has a $300k FMV, you can reduce that to $250,000 for the calculations above.
Additionally, if you buy an owner-occupied home, you receive property tax relief - that is, you're exempt from paying the School Operations millage rate. This amount varies but is typically about half of the total millage rate.
Examples of How to Calculate Your Prospective South Carolina Property Tax Bill
Perhaps the best way to illustrate how to calculate your South Carolina property tax is to go through a complete example.
Let's suppose you want to buy a $500k home in Charleston. Further, suppose that the fair market value of that home is, indeed, $500,000. You want to buy it as your principal residence, and the place within Charleston County you wish to buy has a millage rate of 0.250, with a School Operations millage rate of 0.130.
The calculation would then be as follows:
FMV ($500k) * Assessment Ratio (0.04) = $20,000 * Millage Rate (0.25) = $5,000
We would then calculate the deduction:
FMV ($500k) * Assessment Ratio (0.04) * School Operations Millage Rate (0.13) = $2,600
So, in this scenario, you could expect to pay $2,400 ($5,000 - $2,600) in property taxes annually.
Now, suppose that this property was an investment property for you. Then the calculation would look like this:
FMV ($500k) * Assessment Ratio (0.06) = $30,000 * Millage Rate (0.25) = $7,500
Since it's an investment, there's no deduction.
Notice how in this scenario, your property taxes shot up by $5,100!
Let's take a look at one more scenario. Suppose you are over 65 and buying this as your principal residence. Instead of your FMV being $500,000, you can take $50,000 off that number. So the calculation would look like this:
FMV ($450k) * Assessment Ratio (0.04) = $18,000 * Millage Rate (0.25) = $4,500
Now we apply the new deduction:
FMV ($450k) * Assessment Ratio (0.04) * School Operations Millage Rate (0.13) = $2340
In this scenario, you'd save $240 annually by applying for the homestead exemption. Not bad!
Payment Dates
South Carolina is relatively strict about property tax collection. You must pay your taxes by March 17 each year or risk losing your home.
The dates you need to remember are:
Oct 1 - Property tax rolls open!
Jan 15 - Property taxes are due.
Feb 1 - If you pay before Feb 1, but after Jan 15, you must pay a penalty of 3%.
Mar 16 - If you pay after Feb 1, but before Mar 16, you owe an additional penalty of 7%.
Mar 17+ - If you pay on Mar 17 or later, you owe an additional 5%.
After March 17, the county can sell the property, if necessary, to collect the delinquent taxes.
South Carolina Property Tax: It's Relatively Easy to Ballpark It
Calculating your South Carolina property tax down to the penny is hard before you receive your first assessment. However, you can almost always get an excellent idea of what you'll be looking at (within a few hundred annually) if you follow the steps above.
For primary residences, please take what you think the home's value will be, multiply it by 4%, and then multiply that by your city's millage rate minus the School Operations millage rate.
For vacation homes, the calculation is even more straightforward, as you need to multiply your home's value by 6% and find your county's total millage. You cannot claim back the School Operations rate on a second home.
<a href="https://www.southernbellliving.com/about/our-team/" target="_blank">Please get in touch with us</a> if you have any questions about calculating your South Carolina property tax on your dream home in Charleston, Dorchester, or Berkeley Counties! We can help you find your prospective property tax and help you find the home that fits your budget! 2023-02-10T05:15:56-07:002023-10-19T14:49:26-07:00Taylor Goldsberrytag:southernbellliving.com,2012-09-20:15406How Inflation is Affecting the Housing Market in Charleston, SC<img src="https://assets.site-static.com/userfiles/1830/image/Blog_Images/How_is_Inflation_Affecting_the_Charleston_SC_Housing_Market/Charleston_SC_Housing_Inflation.jpg" width="1665" height="942" alt="Inflation spelled in incrementally increasing size of block letters" title="Inflation in the Housing Market Charleston, SC" />
It’s safe to say no one in the United States is immune to rising inflation rates when living in 2022. Everyone feels the price hikes at the grocery store, buying movie tickets, and beyond. If you are a <a href="https://www.homelight.com/" target="_blank">homeowner</a> in the glorious city of <a href="https://www.google.com/url?q=https://www.homelight.com/charleston-sc/sell-house-fast&sa=D&source=docs&ust=1674141286539918&usg=AOvVaw0085aRQFyvn712nzsBzx8w" target="_blank">Charleston, South Carolina</a>, you may wonder how inflation affects your local housing market. Look no further for our insights into the changes you are seeing.
General notes
The housing market across the U.S. is undergoing a recalibration. What exactly does this mean? The days of crazy buyer wars and huge home sale prices are slowly trickling into a thing of the past. This shifting market is something that everyone is navigating and may be a sign that a recession is coming our way.
Across the country, inflation soared to record highs in 2022. Inflation hit more than a 40-year high in the month of June. Since June, it has slowly been creeping downward but is still elevated and has a long way to go before it reaches what was once considered normal.
How will inflation affect the housing market?
For starters, home prices across the U.S. could go down, making home values decrease slightly. Inflation also affects mortgage rates, which are higher than the record lows we saw during the pandemic. Inflation also could increase the cost of construction for new homes, as materials will likely cost more. All these factors could slow the rate at which homes sell.
Charleston market
More specifically, to Charleston, South Carolina, Redfin shows the market is becoming less competitive (as we stated earlier when generally speaking of the U.S.). Average homes sell for around 2 to 6 percent higher than the list price, depending on the time listed. This is a promising statistic to note.
With shifts in inflation and market recalibration, you can expect home prices to drop from what they were in recent years. Based on data from Charleston County, the housing market in Charleston has shifted to a buyer’s market, meaning more homes are listed than the demand requires. This increase in inventory versus the number of buyers also contributes to the lowered home prices overall.
Charleston forecast
Job growth in Charleston is consistent and not anticipated to drop, which will help keep the demand for homes high. Because of this steady job growth in the area, <a href="https://www.southernbellliving.com/blog/the-best-areas-to-invest-in-charleston-sc-for-purchasing-a-home/" target="_blank">Charleston has historically been a stable place to invest in real estate</a>. In fact, over the past ten years, Charleston real estate has offered an average home appreciation of 7.28 percent. This places Charleston in the top 20 percent of all U.S. cities for real estate appreciation.
We hope you better understand how inflation affects the housing market in the United States and, more specifically, in Charleston, South Carolina. <a href="https://www.southernbellliving.com/blog/when-is-the-best-time-to-buy-a-home-right-now/" target="_blank">Don’t be afraid to make a real estate transaction</a> if you are in the position to. <a href="https://www.southernbellliving.com/about/our-team/" target="_blank">Our dedicated team of Charleston, SC, real estate agents</a> is here to offer you educated guidance and a smooth transaction. Contact us today!2023-01-17T05:55:28-07:002023-01-19T07:16:52-07:00Taylor Goldsberrytag:southernbellliving.com,2012-09-20:14950Why Should I Buy a Home in Charleston, SC? Here Are 5 Amazing Reasons<img src="https://assets.site-static.com/userfiles/1830/image/Blog_Images/Why_Should_I_Buy_a_Home_in_Charleston_SC_5_Amazing_Reasons/1st_Image.jpg" width="1200" height="900" alt="Charleston, SC Homes and City Skyline at Sunset" title="Charleston, SC Skyline" />
It's undeniable that Charleston is one of the best places to live in the United States. With sandy beaches, warm weather, and some of the best cuisine you'll find anywhere in this country, Charleston has a long, rich history of being a desirable destination. With COVID enabling the flexibility to work remotely for many professionals, Charleston has seen a resurgence in popularity, with many looking to trade the cold climate and high cost of living for the sunshine that Charleston provides. However, don't take our word for it - you should know that when you ask yourself, "why should I buy a home in Charleston," the data backs up the obvious answer: yes, you should.
Here are five great data-backed reasons why taking the plunge and buying a home here is a superb decision (and a wise investment - both in yourself and financially!).
Why Should You Buy a Home in Charleston: The Cost of Living Is Lower
<img src="https://assets.site-static.com/userfiles/1830/image/Blog_Images/Why_Should_I_Buy_a_Home_in_Charleston_SC_5_Amazing_Reasons/Image_2.jpg" width="1200" height="630" alt="Bar Graph drawn on green chalk board with arrow sloping down with Cost of Living text above " title="Cost of Living" />
<a href="https://www.cnn.com/2022/07/13/economy/cpi-inflation-june/index.html" target="_blank">Inflation is at a 40-year high</a>. If you have been following the news, this should be no surprise, as many pundits have been talking about how inflation is changing consumers and real estate.
Record-high inflation means that people find it tough to make ends meet in high-cost-of-living places like New York or Los Angeles. The cost of living is <a href="https://www.nerdwallet.com/cost-of-living-calculator/compare/charleston-n-charleston-sc-vs-new-york-manhattan-ny" target="_blank">162% higher</a> in Manhattan than in Charleston. Los Angeles is <a href="https://www.nerdwallet.com/cost-of-living-calculator/compare/charleston-n-charleston-sc-vs-los-angeles-long-beach-ca" target="_blank">52% higher</a>. Even Miami is <a href="https://www.nerdwallet.com/cost-of-living-calculator/compare/charleston-n-charleston-sc-vs-miami-dade-county-fl" target="_blank">18% higher</a> than Charleston!
Your money goes further in the Charleston area. At 0.56%, South Carolina has <a href="https://www.charlestoncountydevelopment.org/data-center/real-estate-property-tax-data/" target="_blank">one of the nation's lowest effective property tax rates</a>. Indeed, compared with New York (1.4%) or Pennsylvania (1.51%), South Carolina's property tax rates are a bargain. Even "cheap" places like Texas (1.69%) and Ohio (1.62%) are still significantly higher than South Carolina. Depending on your housing situation, choosing Charleston instead of some of these higher cost-of-living destinations could save you thousands a year in property taxes!
Charleston remains a great choice if you want to "beat" inflation!
Homes in Charleston Retain Their Value
<img src="https://assets.site-static.com/userfiles/1830/image/Blog_Images/Why_Should_I_Buy_a_Home_in_Charleston_SC_5_Amazing_Reasons/Image_3.jpg" width="1200" height="630" alt="Model Charleston Home Sitting on top of gold coin stacks that increase incrementally " title="Charleston Homes Retain Value" />
As is self-evident from looking at the Federal Reserve data for <a href="https://fred.stlouisfed.org/series/ATNHPIUS16700Q" target="_blank">all transactions in the Charleston area</a>, homes in this region tend to hold their value well. Since 1985, home prices have always gone up, save for the 2008 recession. Even then, home prices declined from an average of $265,000 in 2007 to $211,000 in 2011 (about a -20% decline).
Compared with the US home price average, Charleston residents re-gained their 2007 home price levels about one year before the average home in the US did. By 2015, Charleston residents were back to even, while the average owner in the US had to wait until 2016.
Charleston is a desirable place to live, so it should come as no surprise that homes tend to increase in value and recover from any broader financial issues faster than other cities in the United States.
Charleston Has Fantastic Schools
<img src="https://assets.site-static.com/userfiles/1830/image/Blog_Images/Why_Should_I_Buy_a_Home_in_Charleston_SC_5_Amazing_Reasons/Image_4.jpg" width="1200" height="630" alt="Teacher working with student in Charleston, SC" title="Charleston Schools" />
The Charleston area is home to some of the best schools in the entire state of South Carolina.
For elementary and high school students, Porter-Gaud is one of the best in the area. 75% of faculty at this school have master's degrees or higher, and students here have one of the lowest student-teacher ratios in the city: there are just 12 students for every faculty member. These impressive stats are why Porter-Gaud is <a href="https://www.niche.com/k12/porter-gaud-school-charleston-sc/rankings/" target="_blank">one of the top 500 private high schools in the United States</a> and the fourth-best private high school in South Carolina.
High school students will find other excellent educational facilities here. Wando High School, for example, in Mount Pleasant, has impressive stats. Students attending this school have <a href="https://www.greatschools.org/south-carolina/mount-pleasant/254-Wando-High-School/" target="_blank">higher SAT scores, college acceptance rates, and test scores</a> than the South Carolina average.
Lastly, Charleston is home to two highly-ranked educational facilities for college-aged students. The College of Charleston was ranked #9 in Regional Universities South and received the #5 spot for the best undergraduate teaching <a href="https://www.usnews.com/best-colleges/college-of-charleston-3428" target="_blank">by US News</a>. Additionally, The Citadel, The Military College of South Carolina, received the #2 spot for Regional Universities South and was the #1 college for veterans, <a href="https://www.usnews.com/best-colleges/citadel-3423" target="_blank">according to US News</a>.
Charleston is a place to get an excellent education. Whether you're looking at a home for your young children to learn and grow or you're looking at going to college, Charleston will exceed your expectations, which is another reason to buy a home here!
Comparatively Speaking, Charleston Has Low Crime Rates
<img src="https://assets.site-static.com/userfiles/1830/image/Blog_Images/Why_Should_I_Buy_a_Home_in_Charleston_SC_5_Amazing_Reasons/Image_5.jpg" width="1200" height="630" alt="Kids laying down in Charleston, SC Playground Field" title="Charleston Has Low Crime" />
Crime rates are incredibly low if you locate in the right neighborhood (and our expert real estate agents can help you do that!). For example, crime in Mount Pleasant, SC, is a <a href="https://www.bestplaces.net/crime/city/south_carolina/mount_pleasant" target="_blank">fraction of that of the US</a>, and some other suburbs report similarly low levels. And <a href="https://www.bestplaces.net/crime/city/south_carolina/charleston" target="_blank">violent crime is less in Charleston than in the United States</a>.
Charleston has less crime than other major metro areas like New York, Dallas, Tampa, Miami, and Boston. Even within South Carolina, <a href="https://www.bestplaces.net/crime/city/south_carolina/columbia" target="_blank">Charleston is significantly safer than Columbia</a>!
A significant reason why Charleston has lower crime is the fact that it is a destination for people seeking a family-friendly, relaxed lifestyle. In other words, people here are looking to build a better life, which helps keep the crime rate down! That lower crime rate helps properties retain value, making them better investments.
Charleston Is Fun!
<img src="https://assets.site-static.com/userfiles/1830/image/Blog_Images/Why_Should_I_Buy_a_Home_in_Charleston_SC_5_Amazing_Reasons/Image_6.jpg" width="1200" height="630" alt="Friends smiling and having fun while waiting to go Kayaking in Charleston, SC" title="Charleston is Fun" />
Last but not least, Charleston is a fun place to live - which can make all the difference when buying a home.
Charleston has some of the best restaurants in the country, with almost any type of food you can imagine. Southern delicacies, Chinese, Hispanic, Thai, English - you name it, there's a restaurant in this area that has it on the menu! We were recently featured in the <a href="https://www.southernbellliving.com/blog/17-of-the-best-hidden-gems-in-charleston-sc/" target="_blank">Redfin blog</a> (article also published on Southern Bell Living), where we highlighted one of our team's favorite places, <a href="https://zerogeorge.com/zero-restaurant-bar/" target="_blank">Zero George</a>!
History buffs will also love wandering around downtown Charleston, learning about the city and which famous presidents lived in or stayed in each home. From <a href="https://chstoday.6amcity.com/presidential-ties-charleston-sc/" target="_blank">George Washington to JFK</a>, presidents have long had ties to Charleston.
Finally, there's so much to do outdoors in this area. You'll love having a home here if you love hiking, kayaking, exploring the wilderness, and camping. All of these activities are close. And access to all these activities is part of what helps the homes in this area retain their value.
You'll likely find fun activities here in Charleston, no matter what you enjoy doing!
Why Should I Buy a Home in Charleston: It's an Excellent Investment
<img src="https://assets.site-static.com/userfiles/1830/image/Blog_Images/Why_Should_I_Buy_a_Home_in_Charleston_SC_5_Amazing_Reasons/Image_7.jpg" width="1200" height="630" alt="Laptop showing property investment growth chart with Model Charleston Homes on Desk " title="Invest in Charleston" />
With lovely weather, a comparatively affordable cost of living, home prices that retain their value, fun activities, excellent schools, and a relatively low crime rate, there are many reasons to buy a home in this lovely city.
Many cities in the US have rising crime, a skyrocketing cost of living, and home prices that are starting to collapse (San Francisco, for example, has seen prices fall due to rising interest rates). Charleston isn't like that. Buying a home here means you can always drive to the beach, eat at one of our many delicious restaurants, and forget that all those problems even exist. It's a solid investment for years to come, and in Charleston, you're always welcome - it's the Southern way!
If you're interested in starting your Charleston adventure, please <a href="https://www.southernbellliving.com/about/our-team/" target="_blank">contact us</a>! Our team of dedicated real estate agents would love to hear more about the type of property you're looking for and help you find the perfect Charleston home. There are so many different areas with different characteristics and traits, so you're sure to find something you like here! 2022-11-16T06:36:02-07:002023-01-17T05:54:31-07:00Taylor Goldsberrytag:southernbellliving.com,2012-09-20:14695When Is the Best Time to Buy a Home? Right Now!<img src="https://assets.site-static.com/userfiles/1830/image/Blog_Images/When_is_the_Best_Time_to_Buy_a_House/First_Image.jpg" width="1980" height="1173" alt="Realtor and Client Searching for Charleston Homes on a Lap Top" title="When is the Best Time to Buy a House?" />
With the Federal Reserve increasing interest rates substantially in recent months, many people have started to feel like buying a home isn't the best idea. You might think that the market will go down to compensate, or the thought of paying a 5%-6% rate when just last year it was 2%-3% feels financially unsound. You might contemplate waiting until the market drops or rates drop before diving into homeownership. As such, you're simply wondering, "when is the best time to buy a home?"
The short answer is: right now. If you want to be a homeowner, starting the process today is the best way to make that happen! Timing the market rarely works because there's always an excuse to avoid buying. To illustrate this point, let's consider some economic situations in the past and see how homeowners who bought during these times fared.
When Is the Best Time to Buy a Home: Looking Back at COVID
<img src="https://assets.site-static.com/userfiles/1830/image/Blog_Images/When_is_the_Best_Time_to_Buy_a_House/Covid.jpg" width="2048" height="1366" alt="Charleston Family Holding a Model Home wrapped with a Medical Mask" title="Real Estate Post Covid" />
Let's go back just a couple of years ago to 2020. COVID was still a new phenomenon, and people didn't know what to expect. People were conflicted - they were scared of contracting the virus, but they also had the freedom to live wherever they wanted, thanks to many jobs becoming remote.
Initially, property prices went down, but so did inventory. People stayed in their homes, looking to ride out the COVID wave. In some places, like New York, there was a massive outflow of people escaping the big rents and high living costs now that remote work was possible. In other places, like Charleston, quite a few people moved into our beautiful city, trading those cold winters for warm Charleston nights.
As the economy began to recover, property prices (and inventory) increased at record paces. That rise, in part, is why the Federal Reserve needs to hike rates to combat inflation! If you bought in 2020, a couple of years later, you were almost certainly ahead in terms of equity.
It's important to remember that buying during 2020 was a scary prospect. Nobody knew what would happen with COVID or what would happen with the economy. They were uncertain times, yet, with hindsight being 20/20, it was an excellent time to buy.
The 2008 Recession and the Years Leading Up to It
<img src="https://assets.site-static.com/userfiles/1830/image/Blog_Images/When_is_the_Best_Time_to_Buy_a_House/Recession.jpg" width="1496" height="793" alt="Charleston Home Models with a Downward Red Economic Arrow" title="2008 Recession" />
The 2008 recession was one of the worst incidents in the housing market that most of us have experienced in our lifetime. The <a href="https://fred.stlouisfed.org/series/MSPUS" target="_blank">median home price in the US reached $257,400 in Q1 2007</a>, the highest it had ever been. And in just 2006, <a href="https://www.forbes.com/advisor/investing/fed-funds-rate-history/" target="_blank">the Federal Funds Rate peaked at 5.25%</a> (by contrast, today, it sits at 3.25%, still two full percentage points lower than in 2006).
Those who lived through the Great Recession know how this story goes. 2008 marked a significant housing market collapse. Prices plummeted 20% from about $250k to $200k. Some areas even had it worse. The Federal Reserve had no choice but to lower interest rates to 0% to spur the economy.
Buyers who purchased in 2007 got a bad deal, right?
Not quite.
By 2013, about 5-6 years later, the median price in the US surpassed the previous highest price set in 2007. Now, in 2022, the median cost is about $440,000.
The average home, bought at its peak in 2007, is now worth almost 2x what it was back then. And most homebuyers had the opportunity to refinance their loans (if they so desired) at meager rates when the mortgage rates went historically low in the years after the recession.
Indeed, what probably felt like a horrible decision in 2007-2010 would have paid off exceptionally well in the long run.
The 2001 Recession: The Dot-Com Bubble
<img src="https://assets.site-static.com/userfiles/1830/image/Blog_Images/When_is_the_Best_Time_to_Buy_a_House/Dot_Com.jpg" width="2218" height="1441" alt="Person Holding a Pin above Stock Market Bubble Text written in Blocks" title="Dot Com Bubble" />
The years leading up to the 2001 dot-com bust were exuberant. People were throwing money at almost anything technology-related. The housing market also experienced a surge, with the Federal Reserve rate reaching a high of 6.5% before decreasing to 1% in 2003. By December 11, three months after the tragic events of 9/11, the interest rate was already down to 1.75%.
Housing, though, remained remarkably consistent. The average home price in the US was $179,000 in Q2 2001. By Q1 2002, the average price had already climbed to $188,000. And, as we all know, that price kept rising! Twenty years later, the median home price is almost 2.5x what people paid in the early 2000s.
All those who bought during the elevated interest rate period of 2001 were likely able to refinance their homes in 2002 at a lower interest rate and with more equity in their property! Indeed, a single-family home or condo was arguably the best investment during that timeframe. Stocks dropped significantly, but real estate held its value and recovered remarkably quickly.
When Is the Best Time to Buy a Home? Yesterday!
<img src="https://assets.site-static.com/userfiles/1830/image/Blog_Images/When_is_the_Best_Time_to_Buy_a_House/Final.jpg" width="1680" height="1120" alt="Couple Celebrating the Purchase of a Charleston Home" title="Best time to buy a home" />
There will always be a reason to put off buying a home. When the market is going down, people will say wait for the bottom. When the market rises, people will say that the houses are now too expensive. If interest rates go down, people will point to that as evidence that the economy is shaky. Conversely, if interest rates increase, people will say that buying a home now is too expensive.
Pundits will always have opinions, but there is one undeniable fact: with enough time, real estate almost always increases in value. Of the past recessions, only one, the 2008 collapse, significantly impacted real estate. And even then, people who bought just before the '08 recession made all their money back in five years and nearly doubled it in fifteen. Plus, a few years after the recession hit, people could refinance their home loans to lock in those incredibly low rates!
Now is as good a time as any to buy a home! You cannot time the market perfectly, as nobody has a crystal ball to see the future. Our dedicated team of experienced real estate agents can help you find the home you want and help you negotiate a fair price for it. And, if interest rates come down in the future, refinancing to take advantage of those lower rates is always an option! At least, though, you'll build equity in the meantime.
If you're interested in enjoying our gorgeous city, <a href="https://www.southernbellliving.com/about/our-team/" target="_blank">please contact us</a>. We can help you find the perfect home for your lifestyle! 2022-10-07T05:16:00-07:002023-03-15T07:38:52-07:00Taylor Goldsberrytag:southernbellliving.com,2012-09-20:14316The Best Areas To Invest in Charleston, SC for Purchasing a Home<img src="https://assets.site-static.com/userfiles/1830/image/Blog_Images/The_Best_Areas_To_Invest_in_Charleston_for_Purchasing_a_Home/charleston-south-carolina-usa-skyline-2021-08-26-18-13-08-utc.jpg" width="900" height="601" alt="Charleston, SC Skyline at Dusk" title="Charleston, SC Homes for Sale" />
Charleston, South Carolina, is not only an excellent place to put down roots and live but also to invest in real estate. There’s a healthy balance of all types of people in Charleston, from retirees and families to temporary residents. What’s the appeal of Charleston that pulls in over 150,000 residents like a magnet? Safety, good public schools, historic charm, and great entertainment are certainly at the top of the list. All of those promote a heavy flow of people wanting to move to the area, either temporarily or permanently. In fact, <a href="https://learn.roofstock.com/blog/charleston-investment-properties#:~:text=Over%2040%25%20of%20households%20in,from%20Zumper%20(February%202022)." target="_blank">~40% of Charleston’s residential properties are renter-occupied</a>. If you’re thinking of getting an investment property in Charleston in the near future, you’ll want to know all the best areas that will make your investment worthwhile. Without further ado, let’s look at the best neighborhoods in Charleston that are worth the investment in 2022.
1. Downtown Charleston
<img src="https://assets.site-static.com/userfiles/1830/image/Blog_Images/The_Best_Areas_To_Invest_in_Charleston_for_Purchasing_a_Home/Downtown_Charleston.jpg" width="1000" height="667" alt="rainbow row homes in downtown charleston, sc" title="Downtown Charleston, SC Homes For Sale - Charleston Real Estate Agents" />
Purchasing a residential property in the downtown area of just about any city offers a great return on investment. The keyword here is “residential.” Commercial properties can be a hit or miss, depending on the business type, but you can almost never go wrong with a residential investment property. Since <a href="https://www.southernbellliving.com/communities/downtown-charleston/" target="_blank">Downtown is at the heart of the city</a>, where you can find a plethora of restaurants, bars, and entertainment establishments, there will always be a demand for it. Downtown isn’t typically a place where families decide to settle down, but any lively individual will want to be at the center of everything (also saving on transportation). The quaint yet lively downtown area of Charleston is no exception, which makes it an excellent location for an investment property.
2. Mount Pleasant
<img src="https://assets.site-static.com/userfiles/1830/image/Blog_Images/The_Best_Areas_To_Invest_in_Charleston_for_Purchasing_a_Home/mtp_p.jpg" width="1602" height="972" alt="Mount Pleasant aerial photo of beach and inner coastal homes" title="Homes for Sale in Mount Pleasant - Mount Pleasant Realtors" />
<a href="https://www.southernbellliving.com/communities/mount-pleasant/" target="_blank">Mount Pleasant</a> is one of the largest towns in Charleston, and for good reason. The majority of residents will confirm that it’s one of the best places to live. With its close proximity to the downtown area, yet having all the perks of a suburban neighborhood (nature, riverside, and beachside living) and great public schools, you’ll certainly find someone in the market dreaming about settling down here for a little while. While property prices are relatively high (~$600,000 on average), you can put a unit on rent for an average of ~$1,600 and witness a significant return on investment.
3. Summerville
<img src="https://assets.site-static.com/userfiles/1830/image/Blog_Images/The_Best_Areas_To_Invest_in_Charleston_for_Purchasing_a_Home/Carnes-Crossroads-Aerial-May2018-Retouched_CC_RET_1920.jpg" width="1056" height="594" alt="aerial view of Summerville homes in the carnes Neighborhood " title="Homes for Sale in Summerville - Summerville Realtors" />
This suburb, like Mount Pleasant, is one of the largest areas in Charleston and is home to ~50,000 residents. <a href="https://www.southernbellliving.com/communities/summerville/" target="_blank">Summerville</a> is right along the I-26, which makes it optimal for commutes to and from work, along with easy access to amenities like schools and hospitals. It has a high concentration of renter households, with ~38% of all residential properties in Summerville being rentals. That is a satisfactory insight for investors to consider when determining the location of their next rental property.
4. James Island
<img src="https://assets.site-static.com/userfiles/1830/image/Blog_Images/The_Best_Areas_To_Invest_in_Charleston_for_Purchasing_a_Home/SC_Bennetts-Bluff_Amenities_Dock_7_1920.jpg" width="1920" height="1080" alt="James Island Home with Dock on coastal channel" title="James Island Homes for Sale - James Island Realtors" />
Nestled on the southern tip of South Carolina, <a href="https://www.southernbellliving.com/communities/james-island/" target="_blank">James Island </a>is a quaint waterfront area with a lot of charm. Its ratio of permanent residents to renters is relatively high compared to other areas we looked at, but it still offers a lot of perks for temporary residents, such as entertainment, restaurants, and, of course, the harbor nearby. It’s also considerably near the metropolitan area as well (only a 10-minute drive away). Residential properties are going around the <a href="https://www.charlestonrealtors.com/wp-content/uploads/2021/03/MarketNsight-Charleston-March-2021.pdf" target="_blank">market with an average monthly rent of $1,300</a>, which is substantial for investors.
Additional Home Investment Tips
<img src="https://assets.site-static.com/userfiles/1830/image/Blog_Images/The_Best_Areas_To_Invest_in_Charleston_for_Purchasing_a_Home/1property-investment-2021-10-22-00-33-41-utc.jpg" width="1500" height="1000" alt="model charleston house with coins growing plants stacked next to it" title="Charleston Home Investment Tips - Realtors" />
Here are a few extra home investment tips to ensure you get the most out of your experience:
If you’re thinking of getting a rental property as your first mortgage-financed property, the smartest <a href="https://www.jhabelmortgages.ca/5-must-know-first-time-home-buyers-tips-for-2021/" target="_blank">first-time home buyer tip</a> we can give you is to get a residential property first or do a lot of research. First-time homebuyers can face hidden costs and have more difficulty navigating the world of mortgages and real estate. It’s recommended to get a mortgage for your first own house and then acquire some equity to purchase a second investment property once you know your way around the market.
Secured your property in Charleston already and are ready to rent it out? Ensure you conduct considerable research before setting the monthly rent price. Take a look at average and median rent prices in each area (we mentioned a few above) before setting a rate. If the property spends too many days on the market, you may want to consider lowering the price.
Don’t underestimate hidden gems. You can consider house flipping to increase the potential that a property has, turning it into an absolute showstopper that can generate a high monthly return on investment. Of course, it’s important to weigh the costs to ensure you’ll earn back the investment you made in the property sooner rather than later.
Now you know all the potential you can unlock in Charleston, SC, so go ahead and make the most of it while the market is still hot. Our <a href="https://www.southernbellliving.com/about/our-team/" target="_blank">team</a> of dedicated realtors can help you find the perfect home for your next property investment. Don't hesitate to contact us with any questions or inquiries, we are here to help!2022-08-18T06:29:00-07:002022-09-22T10:08:28-07:00Taylor Goldsberrytag:southernbellliving.com,2012-09-20:14265A Run Down of the 5 Most Important People in the Home-Buying Process<img src="https://assets.site-static.com/userfiles/1830/image/Blog_Images/A_Run_Down_of_the_5_Most_Important_People_in_the_Home-Buying_Process/charleston-south-carolina-usa-skyline-2021-08-26-18-13-06-utc.jpg" width="1122" height="749" alt="Charleston, SC Skyline and sunset" title="Charleston, SC Real Estate Agents" />
Among all US states, CNBC listed South Carolina as the one with the <a href="https://www.cnbc.com/2022/07/17/these-are-the-10-states-with-americas-most-stable-housing-markets.html" target="_blank">most stable housing markets</a>, making it a suitable place to check out if you’re looking for a new place to call home. It has a 21.4% appreciation rate, so house prices in South Carolina are expected to increase and remain popular among real estate buyers as an investment.<br /> <br /> However, acquiring a home requires expert knowledge because of its many moving parts. Before committing to a purchase, here are the five people that should be involved in your home-buying process to ensure that you’re getting what you’re paying for:
Real Estate Agent
<img src="https://assets.site-static.com/userfiles/1830/image/Blog_Images/A_Run_Down_of_the_5_Most_Important_People_in_the_Home-Buying_Process/realtor-handing-a-man-the-key-to-his-new-home-sol-2022-08-01-04-12-53-utc.jpg" width="947" height="631" alt="real estate agent handing buyer keys to home" title="Charleston, SC Realtors - Southern Bell Living" />
These licensed professionals guide homebuyers through every step of the buying process, from scouting the property to closing the deal. If you’re new in the real estate market, <a href="https://www.southernbellliving.com/blog/buyers-why-do-i-need-a-local-charleston-sc-real-estate-agent/" target="_blank">having a real estate agent</a> will help you maximize your budget because they will look out for your best financial interests. They will recommend fair and competitive prices and recommend reasonable discounts for home repairs on the property.<br /> <br /> <a href="https://www.southernbellliving.com/about/ramsey-trusted-elp/" target="_blank">Hiring a real estate professional</a> like our RamseyTrusted professionals at Southern Bell Living does not have to be expensive, but you do need someone who is reliable. If you’re looking for a home in Charleston, South Carolina, we offer free real estate agent services to assist homebuyers in the buying process. This will lessen your worries when buying a new home while also ensuring that you get the perfect home in the area.
Loan Officer
<img src="https://assets.site-static.com/userfiles/1830/image/Blog_Images/A_Run_Down_of_the_5_Most_Important_People_in_the_Home-Buying_Process/partial-view-of-realtor-giving-pen-and-clipboard-w-2021-08-30-01-47-10-utc.jpg" width="1104" height="737" alt="partial-view-of-lender-giving-pen-and-clipboard" title="Charleston, SC Mortgage Lenders - Charleston Real Estate Agents" />
Mortgage loan officers help clients by managing and giving monetary assistance to individuals for purchasing or refinancing their properties. <a href="https://online.maryville.edu/online-bachelors-degrees/finance/careers/loan-officer/" target="_blank">Although most loan officers</a> have educational backgrounds in finance, not everyone has certifications like the mortgage loan originator (MLO) license. Finding a loan officer with a license ensures that they specialize in real estate transactions and can give you the best home loan option possible according to your financial status.<br /> <br /> Aside from financial accounting and management skills, our <a href="https://www.southernbellliving.com/our-lender/" target="_blank">licensed mortgage lender partner</a>, Ethan Lane, emphasizes the importance of communication skills as a mortgage loan officer. If your loan officer can properly convey your financial obligations, you will understand your responsibilities as a debtor and it will help you to establish a good relationship with each other.
Real Estate Appraiser
<img src="https://assets.site-static.com/userfiles/1830/image/Blog_Images/A_Run_Down_of_the_5_Most_Important_People_in_the_Home-Buying_Process/a-real-estate-appraiser-estimates-the-cost-of-hous-2022-08-01-01-48-42-utc.jpg" width="896" height="545" alt="a-real-estate-appraiser-estimates-the-cost-of-house" title="Charleston, SC Real Estate Appraiser - Charleston Real Estate Agents" />
For mortgage and tax purposes, your property should be assessed by a real estate appraiser to verify its actual value. Matt Harmon, a <a href="https://money.usnews.com/loans/mortgages/articles/what-you-need-to-know-about-home-appraisals" target="_blank">state-certified property appraiser</a>, explains that appraisers create a report to define a home's value determinants and what its estimated market value is. With an unbiased opinion from an expert, lenders can ensure that a home is worth what is being paid for.<br /> <br /> Since the property usually serves as the loan collateral, this is also a security measure for mortgage lenders to confirm that you aren't overborrowing. Having your property appraised by professionals is necessary as you may be denied a home loan if the appraiser finds a large discrepancy between your home’s worth and the mortgage you’re requesting.
Home Inspector
<img src="https://assets.site-static.com/userfiles/1830/image/Blog_Images/A_Run_Down_of_the_5_Most_Important_People_in_the_Home-Buying_Process/plumber-signs-a-contract-for-the-services-in-the-k-2021-12-17-01-37-00-utc.jpg" width="900" height="600" alt="Home Inspector writing a report" title="Charleston, SC Home Inspector - Charleston Realtors" />
Home inspectors are the ones who thoroughly check and assess all aspects of the house. They will let homebuyers know about any problems related to the house, such as faulty wirings or leaks, so buyers can make informed decisions before purchasing the property.<br /> <br /> This means that you can renegotiate the sale price of the home to the seller based on the assessment provided by the home inspector and have these issues repaired by <a href="https://cardinalhi.com/" target="_blank">expert home inspectors</a> like Cardinal Home Inspectors who we work with.<br /> <br /> It’s important to check for an inspection contingency in your purchase agreement contains as this gives you the right to have the home assessed by experts. A home inspection should always be your priority because it can help you reallocate your budget to making the necessary repairs for your new home.
Real Estate Attorney
<img src="https://assets.site-static.com/userfiles/1830/image/Blog_Images/A_Run_Down_of_the_5_Most_Important_People_in_the_Home-Buying_Process/shake-hand-professional-man-lawyers-work-at-a-law-2021-10-24-14-32-56-utc.jpg" width="900" height="539" alt="shake-hand-professional-man-lawyers-work-at-a-law" title="Charleston, SC Real Estate Attorney - Charleston Realtors" />
Some states require buyers to hire a real estate attorney during transactions, especially when closing a deal. It's because they facilitate the legal transfer of property as well as ensure that proper legal procedures are followed during the acquisition or sale of the property.<br /> <br /> You may not be familiar with the property and tax laws in each state, so we recommend working with a <a href="https://towneslawfirm.com/about-us" target="_blank">local real estate attorney’s guidance</a>. Townes Lawfirm can assist and protect you when you acquire a new home. They will prepare the necessary documents and thoroughly review the property’s paperwork to ensure that the seller legally owns the property and can sell it to you without any legal repercussions when you choose to collaborate with us at Southern Bell Living.
Article contributed by Roanne Jeanne2022-08-09T12:26:00-07:002023-03-15T07:39:24-07:00Taylor Goldsberrytag:southernbellliving.com,2012-09-20:14179Solving the Dilemma of Choosing Between a Forever Home and a Starter Home<img src="https://assets.site-static.com/userfiles/1830/image/Blog_Images/Solving_the_Dilemma_of_Choosing_Between_a_Forever_Home_and_a_Starter_Home/Keys_opening_the_front_door_of_a_house_1.jpg" width="4608" height="3072" alt="keys opening door to new charleston home" title="Solving the Dilemma of Choosing Between a Forever Home and a Starter Home - Charleston Realtors" />
The decision to choose between a forever home or starter home is not one to take lightly. While a starter home provides an affordable path to homeownership, it’ll require you to make another move in a few years. Conversely, a forever home will secure your housing needs for the foreseeable future but will involve a larger investment. If you’re in two minds regarding which option to go with, this article by <a href="https://southernbellliving.com/" target="_blank">Southern Bell Living</a> will help you make an informed decision.
Why Buy a Starter Home?
For first-time homeowners with limited capital, buying a starter home is a good option. For example, you can find starter homes in Charleston <a href="https://www.southernbellliving.com/property-search/results/#uprice_250000/" target="_blank">for around $250K</a>, depending on the neighborhood. Given that homes are lower priced; they make it easier to secure a mortgage with an affordable down payment. Additionally, along with paying down the mortgage you also build equity, which is a big plus for those who continue to rent.
Being a homeowner will serve as a valuable experience as you’ll need to handle the responsibilities of maintaining the property, conducting repairs, and making necessary modifications. By keeping the property in good condition you can also benefit from an increase in property value on an annual basis. =
Why Buy a Forever Home?
As the name suggests, these homes are purchased as a long-term investment. While the mortgage and down payment <a href="https://www.investopedia.com/mortgage/mortgage-guide/down-payment/" target="_blank">requirements</a> can be high (jumbo loans in South Carolina, for instance, often require <a href="https://jumbomortgagesource.com/charleston-updated-low-down-payment-jumbo-loan/" target="_blank">20 percent down</a>), the property will include all the amenities you require such as a great location, extra bedrooms, outdoor spaces, etc.
But, given the size of the investment, homebuyers need to be confident in their decision to settle down, as another relocation for any given reason will not be an option for the foreseeable future.
Choosing Between the Two Options
Now that you have a better idea regarding both the options, here’s a list of questions to help you decide which home best suits your needs:
How Much Home Can You Afford?
As reported by CNBC, with the recent hike in mortgage rates, undertaking debt is slightly more <a href="https://www.cnbc.com/2022/05/04/3-things-thatll-get-more-expensive-after-the-feds-historic-rate-hike.html" target="_blank">expensive than before</a>. For a forever home, you’ll need to choose between a 15- or 30-year mortgage (FHA, Conventional, Jumbo, or VA), having an interest rate of at least 4%. Sound financial planning will be required to afford a large down payment and consistently meet repayment obligations.
If you feel your finances aren’t as strong as they can be, a starter home is a safe option. You can take a lower mortgage, <a href="https://www.badcredit.org/how-to/ways-to-fix-your-credit-to-buy-a-house/" target="_blank">build up</a> strong credit through its repayment and use your home’s future equity to buy the next home. Another option to explore would be to consider refinancing your debt to afford the home. Remember to check the <a href="https://www.pennymac.com/rates" target="_blank">US bank refinance rates</a> before making a decision.
Lastly, check the area’s cost of living score to ensure you can afford to live there without stretching your budget to the breaking point. According to Best Places, Charleston has a <a href="https://www.bestplaces.net/cost_of_living/city/south_carolina/charleston" target="_blank">cost of living score of 111.5</a>, which is above the national average of 100. Make sure you pay close attention to your finances before making a final decision.
What Are Your Future Plans?
With a starter home, you have the advantage of relocating based on future plans, including pursuing job opportunities, moving to a new location, and more. But, for those planning to start a family or a business, forever homes provide the stability needed to pursue those goals.
Is Location One of Your Priorities?
Given the affordability of a starter home, they may not be located in the best neighborhoods. For young homeowners who work from home, this may be a trade-off they’re willing to make.
If you consider location a priority, you’ll need to put in the time to research the <a href="https://www.tchabitat.org/blog/choosing-a-neighborhood" target="_blank">best neighborhoods</a> and their proximity to amenities and pay a premium to secure your dream home.
Given that your decision will have a major impact not only on finances but your professional and personal life as well take the time to weigh the pros and cons of both options and choose the one that provides the best balance between your current and future needs.2022-08-01T08:59:00-07:002022-08-30T09:42:53-07:00Taylor Goldsberrytag:southernbellliving.com,2012-09-20:13902See the 5 Best West Ashley, SC Neighborhoods<img src="https://assets.site-static.com/userfiles/1830/image/Blog_Images/See_the_5_Best_West_Ashley_Neighborhoods/Best_West_Ashley_Neighborhoods.jpg" width="1600" height="1066" alt="Aerial view of west ashely and the west ashley connector" title="Best West Ashley Neighborhoods - West Ashley Real Estate Agents" />
The Charleston area is consistently one of the best places to live on the Atlantic ocean. With warm winters, impressive architecture, excellent schools, and a vibrant food and nightlife scene, Charleston is a place where everyone can find their ideal lifestyle. There are many beautiful areas to live in; however, one of the top places has always been West Ashley. Its proximity to downtown Charleston - without the downtown Charleston congestion or prices - has always made it a lovely place for families, retirees, and young professionals. If you're considering moving to the West Ashley area, here are the top five neighborhoods you need to explore!
One of the Best West Ashley Neighborhoods: Northbridge
<img src="https://assets.site-static.com/userfiles/1830/image/Blog_Images/See_the_5_Best_West_Ashley_Neighborhoods/Ashley_River.jpg" width="1080" height="720" alt="West Ashley River in the Northbridge Neighborhood" title="North Bridge Neighborhood West Ashley - North Bridge Realtors" />
Thanks to its location, the Northbridge area is one of the premier places to live in West Ashley. Situated close to the Ashley River in the northeastern part of West Ashley, this community is minutes from both North Charleston and downtown Charleston. That makes it the perfect place for people who want to be in the city quickly (perhaps for work or nightlife) and those looking to relax in the more northern parts of the town, which have a much more suburban life.
Homes in the Northbridge neighborhood tend to be lovely with large lot sizes. They are reasonably priced relative to the area, especially considering the location and amenities nearby. There's minimal traffic, numerous grocery stores, gyms, and amazing people.
Families will love the relatively low crime rates and the high-quality schools. West Ashley is home to Orange Grove Elementary, a charter school with a <a href="https://www.greatschools.org/south-carolina/charleston/1829-Orange-Grove-Elementary-Charter-School/#Neighborhood">9/10 rating</a> on Great Schools.
Northbridge is a fantastic place to live - if you're considering living in West Ashley, this is one area you'll want to put on your list to explore!
The Crescent
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Another one of the best West Ashley neighborhoods is "The Crescent." Fewer than five minutes from beautiful downtown Charleston, The Crescent is the perfect place to live if you want to be close to downtown Charleston while still having a more suburban lifestyle. Professionals and families love this area as it is close to the esteemed <a href="https://www.portergaud.edu/" target="_blank">Porter Gaud school</a>, easy to get into the downtown for work, while still having a more suburban life with a gorgeous home on a sizable lot.
The Crescent is home to some of the best luxury homes in the Charleston area, thanks to the traditional home styles and mature oaks and pines. Since residents first established the neighborhood back in the 1920s, all the trees are grown, providing beautiful scenery and much-needed shade for all the homes.
Residents also love The Crescent for its proximity to coffee shops, groceries, and other supplies. Families love how quiet the neighborhood is and how large and beautiful the homes are.
Anyone thinking of moving to West Ashley that wants a taste of luxury would be wise to at least check out The Crescent, easily one of the best West Ashley neighborhoods!
Another One of the Best Luxury West Ashley Neighborhoods: The Settlement @ Ashley Hall
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The Settlement at Ashley Hall is a unique, attractive new neighborhood that is one of the best and one that any prospective resident should check out.
The site itself is on the National Register of Historic Places, and part of what makes this area so appealing is its history. The oaks here have been around for centuries. This community is also unique because it is Charleston's first "<a href="https://www.southernlivinginspiredcommunities.com/communities/42-the-settlement-at-ashley-hall" target="_blank">Southern Living Inspired Community.</a>" It's also Charleston's only community to earn that designation.
You might assume that homes in this area are costly, considering its rich history, but remarkably that's not the case. Homes here are pretty affordable for anyone coming from one of the many higher cost-of-living areas along the east and west coasts.
However, it's the amenities that truly make this new community unique. With a riverfront pool, fire pit, deepwater community dock, dog park, and a pavilion, this neighborhood is one where everyone will feel welcome!
With everything that The Settlement has, it's undoubtedly one of the best West Ashley neighborhoods - and one that you need to explore!
Avondale
<img src="https://assets.site-static.com/userfiles/1830/image/Blog_Images/See_the_5_Best_West_Ashley_Neighborhoods/Avondale_Neighborhood_West_Ashley.jpg" width="1200" height="800" alt="Downtown Avondale shops and restaurants" title="Avondale Neighborhood West Ashley - Avondale Real Estate Agents" />
Avondale is one of the top West Ashley neighborhoods, thanks to its accessibility. It, and neighboring Byrnes Downs, have homes built in the 1940s (and some in the 1950s), meaning they have lots of character and history. However, unlike some of the areas in West Ashley, these homes are relatively affordable. If you're coming from the likes of New York or California, Avondale will seem incredibly inexpensive for what you get!
This area is also desirable, thanks to its proximity to downtown Charleston. Indeed, if you want to be in the city, you can be in the downtown area in about 10 minutes, assuming no traffic or accidents!
Families will love many of the amenities in the Avondale region. Perhaps the most desirable - especially for families with young children - is that Ackerman Park is so close. Take a stroll in this park, walk your dog, let your children play, or go on a bike ride! This park is perfect for families, no matter what you and your loved ones love to do!
Indeed, Avondale is nearly perfect for many people looking to reside in the Charleston area with lovely homes and family-friendly activities!
South Windermere
<img src="https://assets.site-static.com/userfiles/1830/image/Blog_Images/See_the_5_Best_West_Ashley_Neighborhoods/South_Windermere_Neighborhood.jpg" width="960" height="639" alt="Luxury Home in the South Windermere Neighborhood West Ashley" title="South Windermere Neighborhood in West Ashley - South Windermere Real Estate Agents" />
Last but not least is the neighborhood of South Windermere. Situated close to Byrnes Down and The Crescent, South Windermere is a perfect neighborhood. It's for people looking to be close to downtown without the cost of downtown real estate. It's even closer to the downtown core than Avondale is!
What makes South Windermere so attractive is that you can find practically any home style there. If you want something a little more luxurious for your family, South Windermere has it. Conversely, if you're looking for relative value, this neighborhood has that, too!
Families of younger children will appreciate how close these homes are to<a href="https://www.ccsdschools.com/standrews" target="_blank"> St. Andrews School of Math and Science</a>, a K-5 educational facility. This school is well-rated overall and is minutes from many homes in this neighborhood.
It's not just this location's proximity to the downtown area that makes it valuable. This neighborhood is also right by Folly Rd Blvd. Take that road south, and you are on <a href="https://www.southernbellliving.com/communities/james-island/" target="_blank">James Island</a>. Residents of South Windermere can drive downtown or have a relaxing getaway on James Island, all within mere minutes!
The Best West Ashley Neighborhoods Are Wonderful Places to Live!
<img src="https://assets.site-static.com/userfiles/1830/image/ashley-hall-plantation-sign.png" alt="ashley hall plantation sign" title="Ashley Plantation Sign - West Ashley Realtors" />
West Ashley is undoubtedly one of the premier places to live in the Charleston area. With fantastic food, proximity to the downtown core, and lovely homes, these West Ashley neighborhoods are places to explore. They are some of the best places to realize your Charleston dream.
If you are interested in learning more about these neighborhoods, <a href="https://www.southernbellliving.com/contact/" title="https://www.southernbellliving.com/about/our-team/" target="_blank">please get in touch with us</a>! We would love to hear from you and see how we can help you find your ideal Charleston home!2022-06-27T06:00:00-07:002023-10-19T14:55:13-07:00Taylor Goldsberrytag:southernbellliving.com,2012-09-20:13857John Bell Earns Top Achievement from HomeLight<img src="https://assets.site-static.com/userfiles/1830/image/Blog_Images/John_Bell_Earns_Top_Achievement_from_HomeLight/rainbow-row-in-charleston-sc-colorful-pastel-painted-houses-pink-yellow-tourist-spot-famous-location_t20_BavJNr.jpg" width="950" height="700" alt="Homelight Top Producer of 2021 badge with Charleston rainbow row houses in the background" title="Homelight Top Produce 2021" />
From the beginning of his career in sales in his hometown of Williamsport, Pennsylvania, <a href="https://www.homelight.com/agents/john-bell-sc-101536" target="_blank">John Bell </a>has thrived on his desire and passion to work with people. His personable attitude helped him to expand his work into the banking sector where he spent over a decade working as Vice President and Sales Manager of the Eastern U.S. Market for a Fortune 500 Financial Institution. John’s final career move was into real estate when he became a full-time resident of Charleston, South Carolina.
Along with his fellow realtors at Southern Bell Living, John Bell is passionate about Charleston real estate. The Southern Bell Living team has negotiated savings for their buyers 95.18% of the time. They have also saved buyers approximately $27,500 and helped sellers earn about $24,491 more on average.
John Bell carries on the Southern Bell Living tradition of excellence with each and every client. His love for the Charleston area shows in his tireless effort to provide a seamless home buying and selling experience for his clients. John’s dedication to Charleston real estate and to his real estate clients is also evident in his sales volume. John Bell is ranked in the top 2% of agents in his area based on his total sales volume, earning him the <a href="https://www.homelight.com/achievements" target="_blank">HomeLight achievement</a> of Top Producer of 2021. 2022-06-20T08:40:00-07:002022-08-30T09:21:41-07:00Taylor Goldsberrytag:southernbellliving.com,2012-09-20:13816How to Minimize Stress While Moving and Starting a Business<img src="https://assets.site-static.com/userfiles/1830/image/Blog_Images/How_To_Minimize_Stress_While_Moving_and_Starting_a_Business/charleston-sc_t20_Ja68eQ.jpg" width="972" height="703" alt="Ravenel bridge at sunset" title="Ravenel Bridge Charleston, SC" />
The <a href="https://www.bestplaces.net/economy/city/south_carolina/charleston">unemployment rate in Charleston</a><a href="https://www.bestplaces.net/economy/city/south_carolina/charleston"> </a><a href="https://www.bestplaces.net/economy/city/south_carolina/charleston">is 4%</a>, while the average in the United States is 6%. Moreover, the city's job market is expected to grow more rapidly than the national average. If you'd rather <a href="https://tremblylaw.com/control-destiny-five-reasons-consider-launching-business">be in charge of your own destiny</a>, entrepreneurship could be a smart move for you. But it's vital to know how to both make a move and start a business simultaneously without any unexpected hiccups along the way.
Start Your Digital Marketing Plan Now
<img src="https://assets.site-static.com/userfiles/1830/image/Blog_Images/How_To_Minimize_Stress_While_Moving_and_Starting_a_Business/Marketing.jpg" width="927" height="742" alt="Marketer creating a digital real estate marketing plan on a computer" title="Create a Digital Marketing Plan" />
If you haven't scheduled your move yet, you can still <a href="https://www.salesforce.com/resources/articles/create-marketing-strategies-small-business/">start your marketing campaign</a>, even if you'll only be offering your services or products locally. It gives you an opportunity to network and draw in potential clients or customers before you move. For instance, it's not too early to launch a website. As you create one, incorporate eye-catching infographics. They demand attention and can make large quantities of information easily digestible.
You have the option to hire a professional graphic designer for this project, but you could also do it yourself if you decide to <a href="https://www.adobe.com/express/create/infographic">try a free infographic maker</a>. When you use an online program, you choose from templates and can customize them by adding a background, color, logo, and text, among other elements.
Create a Home Checklist First
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Prior to home shopping, create a home shopping checklist. Include how many rooms and bathrooms you need to accommodate your current and expected family size. Know which parts of your home mean the most to you. For instance, if you cook meals every day, you may need a large kitchen with <a href="https://realtytimes.com/consumeradvice/sellersadvice/item/48555-20161111-the-4-things-home-buyers-really-want-in-kitchen-cabinetry">ample counter space and large cabinets</a>. If you enjoy baths, you might want a bathroom with a spacious tub.
If your business is home-based or you'll be addressing any aspects of it from home, a home office is a must-have. As you choose your home with office space in mind, think about the size of the room as well as the position of the outlets. Whilst you can rewire the room, if you don't have experience with electrical, you must hire a professional, which will cost you. It also helps to consider the location of the office space. Will it be close enough to your child's room if you have an infant or toddler? And don't forget to factor in the view out the office windows. You want it to be a place you enjoy being.
Make sure you research the <a href="https://www.planetware.com/tourist-attractions-/charleston-us-sc-char.htm">local attractions in Charleston</a> so your family can get out and enjoy life when you're not busy managing your business and juggling other responsibilities.
Simplify Running Your Business
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Take every step you can to make running your business simple. This will benefit you as you move and in the future. For example, think about forming a <a href="https://www.upcounsel.com/forming-an-llc">limited liability company (LLC)</a>. It'll reduce your tax expenses each year by giving you an opportunity to file additional deductions and will reduce your paperwork.
Become a Pro at Juggling Your Business, Moving, and Home Life
<img src="https://assets.site-static.com/userfiles/1830/image/Blog_Images/How_To_Minimize_Stress_While_Moving_and_Starting_a_Business/ball-hand-circus-balls-juggle-juggler-magician_t20_nm16nA.jpg" width="1008" height="672" alt="group of people juggling balls" title="Juggling Your Business, Moving, and Home Life" />
When you research Charleston or wherever you plan to move and know what you're looking for, you'll find a home you love in an area that suits you. By understanding a few tips, you can make the transition smoother.
Check out local listings at <a href="https://www.southernbellliving.com/">Southern Bell Living</a> today. 2022-06-14T07:42:00-07:002022-08-30T09:21:04-07:00Taylor Goldsberrytag:southernbellliving.com,2012-09-20:13491See the 5 Best Johns Island, SC Neighborhoods<img src="https://assets.site-static.com/userfiles/1830/image/Blog_Images/See_the_5_Best_Johns_Island_Neighborhoods/Retreats_Blog-which-plantation-should-visit-in-charleston-sc.jpg" width="1700" height="1134" alt="Drive way with live oaks" title="Johns Island Neighborhoods" />
The greater Charleston area is one of the best places in South Carolina to live, work, and raise a family. Part of the reason why this city is so desirable is that it has such a wide variety of neighborhoods. People can find whatever home and lifestyle they want here. You can locate costly, historic houses full of character, or you can find a more suburban life. Johns Island offers a beautiful suburban life that's still close to the heart of Charleston. If that sounds appealing to you, here are the five best neighborhoods you'll want to check out!
Stonoview
<img src="https://assets.site-static.com/userfiles/1830/image/Blog_Images/See_the_5_Best_Johns_Island_Neighborhoods/CRS_Stonoview_Park4_Web.jpg" width="955" height="536" alt="Covered dock at Johns Island home on the Stono river in Johns Island" title="Stonoview Neighborhood" />
<a href="http://www.stonoviewsc.com/" target="_blank">Stonoview </a>is a relatively new community. With unobstructed views of the Stono River, these new developments encourage everyone to connect with the Lowcountry. There are numerous opportunities for recreation, including a community dock, waterfront park, community pool, tennis courts, trails, and more.
Homes in this community typically sell in the $500k-$1 million range, typical of what you'll find for this type of housing on Johns Island.
As a relatively secluded, tight-knit community, Stonoview is one of the safest places to live in the Charleston area. It also has access to some excellent schools. The only potential downside for some is that it is a bit of a drive to restaurants and shops, but this is a perk for those looking for privacy and peace.
If you're looking for Johns Island homes for sale, check out Stonoview! There's a good chance you'll fall in love with all this community offers!
Kiawah River
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If you're looking for peace and quiet in your new home, check out the homes in <a href="https://kiawahriver.com/" target="_blank">Kiawah River</a>. As the name implies, these homes are right along the river, and they offer some of the best amenities on Johns Island. There's a boat launch, pool, and a riverfront restaurant in this community. Additionally, homes in this area are very close to downtown Charleston and close to Kiawah's Beachwalker Park.
Since these homes are somewhat secluded, you'll find it a quiet, family-friendly community. Crime rates are low, and the schools are good. If you're into golf, you're also close to some fantastic courses, being such a short drive from Kiawah Island!
For a family-friendly atmosphere and quiet luxury, check out the homes in Kiawah River!
Kiawah River Estates on Johns Island
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Not to be confused with the Kiawah River community, the <a href="https://kiawahriverestatespoa.com/" target="_blank">Kiawah River Estates</a> are a planned community located on the southern tip of John's Island. Like the other communities on John's Island, these homes are also a short drive from downtown Charleston.
As a family-friendly community, you'll find some fantastic amenities here, including a pool, tennis courts, a clubhouse, golf, a crabbing dock on the Kiawah River, and some lovely common grounds. Indeed, this community is perfect for families, young professionals, and retirees who are looking to stretch their dollars further. It offers everything you'd expect from a quality Lowcountry lifestyle!
Since this is a gated community, residents feel incredibly safe. And, for families with children, the schools nearby are excellent. You're also close to all the entertainment, restaurants, and golf that Kiawah Island offers!
With quite reasonably priced homes, you'll want to check out Kiawah Island Estates if you're thinking of moving to Johns Island.
Villages in St. Johns Woods
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Located right off the Maybank Highway, Villages in St. Johns Woods consists of 188 single-family homes. There are numerous amenities for residents, including trails, a clubhouse, and a pool. Families will appreciate the picnic and playground areas, which make perfect family days or places to host guests (e.g., have your kid's birthday party!).
One of the nicest aspects of this community is its proximity to the best shopping and restaurants that Johns Island offers. Since it's right off the Maybank Highway, you'll be close to fantastic eats like the Tattooed Moose, The Southern General, and Cabana Burgers and Shakes. Additionally, there are plenty of food stores, including a seafood market, Simply Seafood, and KJ's Market, a grocery store. Being right off the highway also means you're a mere 10 miles (18 minutes) from the downtown area.
Many people love the Villages in St. Johns Woods for its location and the community's lovely homes. Indeed, if you want your little piece of Charleston heaven, you'll want to check out these homes (and, as your local Johns Island real estate agents, we'd love to show them to you)!
Rushland Plantation
<img src="https://assets.site-static.com/userfiles/1830/image/Blog_Images/See_the_5_Best_Johns_Island_Neighborhoods/Rushland_Plantation.jpg" width="1200" height="600" alt="Rushland Plantation Home" title="Rushland Plantation Neighborhood on Johns Island" />
Last but certainly not least is Rushland Plantation, a community that sits along the Stono River. Homes in this area are among the most desirable because they tend to be higher-end, more significant properties. Homes in this community have access to some lovely amenities, including a pool, park, playground, and clubhouse. Additionally, you can even get waterfront homesites in this community!
Families and retirees, especially, will appreciate this community's safety and quiet lifestyle. Homes in this community are spacious and have ample land. You'll find 2,700 sq. feet and above living spaces, with up to five bedrooms. And, every single home has nature as its backdrop. Indeed, you won't see tiny homes and cramped spaces here! You'll feel like you have the freedom and space to do whatever you want on your property!
Much like the Villages in St. Johns Woods, these homes are very close to the Maybank Highway, so it's a matter of mere minutes to go into downtown Charleston. If you want the peace and tranquility of the Stono River with the ease of getting into Charleston, homes in Rushland Plantation might be your perfect choice!
See the Best Johns Island Neighborhoods for Yourself!
<img src="https://assets.site-static.com/userfiles/1830/image/Blog_Images/See_the_5_Best_Johns_Island_Neighborhoods/Johns_Island.jpg" width="970" height="545" alt="walkway on the river and marsh in Johns Island" title="Johns Island Neighborhoods" />
Johns Island represents some of the best that Charleston has to offer. It's quiet, suburban, and perfectly situated between all the excitement in downtown Charleston and the beauty and splendor of Kiawah Island. Indeed, with a home in these communities, you're only a short drive from the beach and an equally short drive from all the best restaurants, nightlife, and shopping that Charleston offers! As a bonus, homes on Johns Island tend to be reasonably priced, so most buyers - especially those coming from high-cost-of-living places - should be able to find their perfect home on Johns Island.
If you're thinking of moving to the Charleston area, <a href="https://www.southernbellliving.com/about/our-team/" target="_blank">please contact us</a>! As your Johns Island real estate agents, we'd love to show you the idyllic lifestyle that this part of Charleston offers and all the current Johns Island homes for sale!2022-04-29T07:06:00-07:002023-10-19T14:58:09-07:00Taylor Goldsberrytag:southernbellliving.com,2012-09-20:13111What Are Physician Loans in South Carolina and Are They the Best Choice?<img src="https://assets.site-static.com/userfiles/1830/image/Blog_Images/What_Are_Physician_Loans_in_South_Carolina_and_Are_They_the_Best_Choice/Attractive-female-doctor.jpg" width="1200" height="630" alt="Charleston South Carolina Physicians" title="Physician Loans South Carolina with Southern Bell Living" />
South Carolina is an attractive state for doctors to practice in as well as a great place to do a residency for medical students. The Charleston area, in particular, is home to the <a href="https://web.musc.edu/" target="_blank">Medical University of South Carolina</a>, the oldest medical school in the South and one of the best in the nation. This beautiful campus trains more than 3,000 students and 850 residents and fellows in six colleges each year. However, while medicine is a wonderful field, recent graduates and even experienced doctors may find themselves in a predicament regarding home loans: even with high salaries, their student loans are also high, making it hard to qualify for a conventional loan. Fortunately, there are physician loans in South Carolina to solve this problem for our esteemed current and future medical professionals!
What Are Physician Loans in South Carolina?
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If you have been browsing mortgages, you may have come across various loan types. There are conventional mortgages, conforming loans, jumbo mortgages, FHA loans, VA loans, etc. Most of these loan types refer specifically to the kind of government backing the loan has. For example, a conforming conventional loan adheres to the guidelines of Freddie Mac and Fannie Mae. These two government entities will buy these loans, thereby negating risk to the lender.
Physician loans in South Carolina are not a government program, either at the federal or state level. Instead, they're a category of loans that some banks have, recognizing that many medical professionals have high levels of student debt but equally have a tremendous income potential for the future. The elevated student debts may make it impossible to qualify for a traditional loan. Recognizing that, participating banks agree to make the guidelines less stringent, acknowledging that the earning potential outweighs the student loan risk.
In short, even if you are a medical resident or physician who may not qualify for a "traditional" loan, you may very well qualify for a physician loan in South Carolina if you go through a participating bank!
Perks of Physician Loans
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There are numerous benefits of physician loans in South Carolina.
The first and most significant benefit is that these loans typically offer up to 100% financing and do not require private mortgage insurance. Typically, conventional loans need 20% down, and if you put less than 20% down, you must buy mortgage insurance. That insurance can be costly - sometimes around 1%-2% of the loan value per year! If you're borrowing $500,000, that could mean you're spending $5,000 a year just on insurance! Therefore, not needing to put anything down and saving money on insurance is a substantial benefit!
Secondly, physician loans typically have quite substantial limits. For South Carolina and Charleston, these loans can often have $1 million or more caps. That opens up most of the Charleston area to any physician, except perhaps the most historic downtown area, as those homes often go for many millions. However, if you want to live in Kiawah Island, Mount Pleasant, West Ashley, James Island, and similar places, a physician loan will provide you with more than enough to buy a beautiful home!
Lastly, physician loans don't count student debt towards your debt-to-income ratio, don't require high credit scores, and don't have particularly stringent employment standards. You can have a debt-to-income ratio greater than 50% and close up to 90 days before starting your employment. Such terms are unheard of with other mortgage products. However, since doctors typically see a significant increase in their salary as they progress, lenders are much looser with these requirements.
For doctors looking to buy a home in Charleston, a physician loan is a fantastic way to start your career in your own gorgeous home instead of throwing your money away on rent in some apartment each month!
Potential Drawbacks
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As with any financial product, there are some potential drawbacks for anyone considering one of these loans.
The biggest drawback is that physician loans typically do not come with a fixed interest rate. Banks can offer fixed rates (as in, there's nothing illegal about doing so), but usually, they don't. Therefore, any physician loan you will get will typically have an adjustable rate. For the most part, these are fine, so long as you keep your monthly payment low enough that potential rate hikes in the future don't cause havoc on your finances.
If you don't put any money down, another drawback is that you won't have much equity in your home at the start of the mortgage. That means you may have to wait to sell to avoid losing too much on the transaction. For example, if you buy a $1 million home and want to sell three months later for $950k, you'll need to pay a bunch of fees to make the sale, plus you'll need to make up most of the difference in equity.
Assuming you buy a home you know you'll love, the above concern shouldn't be a problem. But, it does mean that you should take your time to find a property you feel you'll be happy with for a few years before taking advantage of one of these loans.
What Banks Offer Physician Loans?
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At Southern Bell Living, we have substantial experience working with physicians looking for properties in Charleston. We can refer you to our <a href="https://www.southernbellliving.com/our-lender/" target="_blank">preferred lender</a> who can get you the best rates for these loans.
However, suppose you're looking to obtain financing yourself. In that case, most major banks offer these types of loans, including <a href="https://www.mortgagenetwork.com/" target="_blank">Mortgage Network</a>, Bank of America, United Community Bank, TD Bank, U.S. Bank, Citizens Bank, and many more.
You can always call your preferred lender to see if they could offer one of these loans for you!
Physician Loans in South Carolina: Are They a Good Idea?
<img src="https://assets.site-static.com/userfiles/1830/image/Blog_Images/What_Are_Physician_Loans_in_South_Carolina_and_Are_They_the_Best_Choice/healthcare-and-medicine-doctor-using-a-digital-tablet-in-the-morning_t20_e9aJW7.jpg" width="1046" height="698" alt="Charleston doctor-using-a-tablet-surrounded-by-digital-icons" title="Are Physician Loans in South Carolina a Good Idea?" />
Are physician loans good for medical professionals looking to buy in South Carolina? For the most part, yes. The relaxed requirements will help many MDs buy as opposed to renting. Building significant home equity early on in your career can help you significantly later in life! As long as you can afford the monthly payments, getting one of these loans is almost always smart.
At Southern Bell Living, we have helped many physicians buy their dream Charleston home. If you want to move to this beautiful scenic city, <a href="https://www.southernbellliving.com/contact/">please contact us</a>!2022-03-11T06:36:00-07:002022-08-30T09:01:56-07:00Taylor Goldsberrytag:southernbellliving.com,2012-09-20:12304Real Estate Contingencies: 5 You Must Consider in Your Next Offer<img src="https://assets.site-static.com/userfiles/1830/image/Blog_Images/Real_Estate_Contingencies_in_Charleston_SC_5_You_Must_Consider_in_Your_Next_Offer/Key_to_Your_Charleston_Dream_Home_-_Realtors_Near_Me.jpg" width="799" height="600" alt="homeowner holding a key in front of their new Charleston home" title="Key to Your Charleston Dream Home - Realtors Near Me" />
Those new to the homebuying process, or those who haven't bought a home in a while, know just how dizzying the terminology surrounding homes, offers, and purchase contracts can be. You'll hear your real estate agent talk about many different things, and you might be surprised when the offer you submit is many pages long and not just something simple like "I'll buy this house for $200,000." Part of the reason offers are so long is that they represent a formal well-tested legal contract that gives you, the buyer, a fair shot at acquiring your dream Charleston home. Part of the legal protections the agreement provides is one or more real estate contingencies.
What are these contingencies, and which ones must you have in your next offer? Let's find out!
What Are Real Estate Contingencies?
<img src="https://assets.site-static.com/userfiles/1830/image/Blog_Images/Real_Estate_Contingencies_in_Charleston_SC_5_You_Must_Consider_in_Your_Next_Offer/What_are_Real_Estate_Contingencys_in_Charleston_-_Charleston_Real_Estate_Agents.jpg" width="800" height="533" alt="Homeowner curious about home contingencies in charleston" title="What are home contingencies in Charleston, SC - Real Estate Agents Near Me" />
Real estate contingencies are conditions that must be true for the contract to be enforceable. Another way to think about these contingencies is that the offer you submit is "contingent" upon certain conditions.
Effectively, these contingencies are escape clauses that permit a seller to break the original contract without losing their earnest money deposit (which can often be many thousands of dollars). They protect the buyer from having to take possession of a home that had misrepresentations or for which the buyer could not obtain the necessary financing. It is worth noting that both buyers and sellers can have contingencies, although almost all buyer offers have them, whereas sellers seldom do. Logically, this makes sense. A seller will not want any impediments to closing the deal, while the buyer will want to back out if any aspect of it doesn't work well!
The Most Common Contingency: Home Inspection
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According to a NAR survey, 58% of buyers put a home inspection contingency into their contract, making it the most popular of the real estate contingencies.
This contingency states that the home must pass an inspection for the contract to be valid. During this inspection, a professional inspector will look at everything. They'll look at the foundation, the walls, fixtures, lighting, electrical, plumbing - indeed, if there's any defect or issue in the home - an inspector will find it.
The contingency stipulates that the home must be free of defects. Almost assuredly, the home inspector will find something wrong with the house. Even a leaky faucet, for example, would be a defect. Therefore, this contingency often gives the buyer the most latitude to walk away from a transaction.
It is also worth noting that this contingency provides negotiating power. You may get an inspection report back that reveals the roof needs replacing in the next 2-3 years. You could then ask for $10,000 of the selling price to put towards those repairs you know you will eventually need. The seller has the option to decline the proposal or accept it. If they reject it, you can still enforce the original contract and original sales price - so it never hurts to ask for at least a small credit! Your real estate agent can walk you through this process!
Another Common Contingency: Appraisal
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Arguably, the most common real estate contingency (and one that most buyers should have) is for the appraisal. In essence, this contingency says that if the home does not appraise for at least the buyer's offer amount, the buyer has the choice to walk away.
Whether you're purchasing the home all-cash or obtaining financing, you want to know that your investment is worth what you're paying for it. If you put an offer in for $500,000 and the home only appraises for $300,000, whether that offer is cash or financing, you'll want the ability to walk away without losing any earnest money!
Of course, if the home appraises for $495,000 and you put down $500,000, you'll probably still want to go through with the transaction. However, having the ability to opt out if the home doesn't appraise is a choice that nearly every buyer should have. It just wouldn't feel good significantly overpaying for a property!
The Financing Contingency is Also Necessary
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If you are looking at getting a mortgage, you must have this contingency on your offer! The financing contingency stipulates that you will make a good-faith effort to obtain financing. However, if you cannot, you can get your earnest money back and break the contract.
Now, it is worth noting that this contingency states that you will make a good-faith effort, and it makes no mention of interest rates or conditions. Therefore, buyers cannot break the contract because they only received approval for a loan at 5.9% for 30 years, but they wanted 2.5% for 15 years. This contingency effectively says that you will obtain financing at market rates if the seller accepts your offer, which may not necessarily be at your preferred rate!
To eliminate these problems, all prospective buyers should get a pre-approval letter. The pre-approval letter is valid for 90 days and will lock your interest rate and loan term. Then, you can put offers in with confidence that there won't be any major surprises when you get your mortgage.
Home Sale Contingency
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This contingency is generally best to avoid, if possible because it introduces uncertainty into the process. This clause stipulates that your purchasing of the home will only happen if your current one sells.
This scenario is quite common: a couple wants to enjoy more space and a bigger home, so they submit an offer on a Charleston property contingent upon selling their New York condo. The problem is that this is very uncertain for sellers. They don't know if the buyer will be able to get the home or not. The condo might sit on the market forever!
Usually, you're better to sell your home first and then use that money to buy your Charleston place. Or, you might have enough saved for a down payment to have two homes temporarily. Both are more certain for sellers, and you will have a higher probability of acceptance! However, if you cannot do that, you absolutely must have the home sale contingency in your offer to prevent a scenario where you cannot sell your old home but are legally on the hook to buy the new one!
For Condo Purchases: HOA Contingency
<img src="https://assets.site-static.com/userfiles/1830/image/Blog_Images/Real_Estate_Contingencies_in_Charleston_SC_5_You_Must_Consider_in_Your_Next_Offer/HOA_Contigency_in_Charleston_SC.jpg" width="800" height="599" alt="Home Owners Association text written on lined white paper torn from spiral notebook with a pencil and compass" title="HOA Contingency in Charleston, SC" />
Last but not least is the HOA contingency. If you are buying a condo, you are buying into a homeowners' association. The problem is that you don't get the chance to review all the HOA finances and CC&Rs (conditions, covenants, and restrictions) before you put in an offer. Therefore, most buyers put an HOA contingency that lets them review these documents, and if they don't like anything in there, they can back out of the deal.
Most of the time, people exercising this option either find the HOA finances are a mess, or they find out that the HOA prohibits renting the condo out. Even if you do not plan to rent the unit out yourself, these condos are less valuable to investors. Therefore, they typically have lower sales prices and are harder to sell. If you want to move out in a few years, this might be a reason to back out!
Real Estate Contingencies Provide Protections
<img src="https://assets.site-static.com/userfiles/1830/image/Blog_Images/Real_Estate_Contingencies_in_Charleston_SC_5_You_Must_Consider_in_Your_Next_Offer/Key_in_Lock_Protecting_Home.jpg" width="800" height="533" alt="Key hanging in charleston home door" title="Key in Lock Protecting Charleston, SC Home - Local Real Estate Agents Near Me" />
Ultimately, real estate contingencies are all about protection. They let the buyer (or seller) walk away from a deal if any issues arise. If the home inspection reveals problems or the home doesn't appraise, the buyer can negotiate. Indeed, they can either get the price down or drop the purchase altogether.
At Southern Bell Living, we have extensive experience negotiating the right contingencies for all types of markets. If you want to buy a Charleston home and want the best protection for your transaction, <a href="https://www.southernbellliving.com/about/our-team/">please contact us</a>! We'd love to help you with the buying process. We will help you avoid costly issues with the right real estate contingencies!2021-12-03T06:07:00-07:002022-08-30T08:46:55-07:00Taylor Goldsberrytag:southernbellliving.com,2012-09-20:121525 Steps to Buy Your Dream Condo in Charleston, SC<img src="https://assets.site-static.com/userfiles/1830/image/Blog_Images/Buying_a_Condo/Condos_for_Sale_in_Charleston_SC.jpg" width="1200" height="742" alt="Charleston, SC condo development" title="Buying a Condo in Charleston, SC" />
Charleston, SC, is a gorgeous place to live. With plenty of water, beaches, one of the best food scenes in all of America, and a friendly, southern lifestyle, Charleston has always been in high demand. When COVID-19 hit, many people started to re-evaluate their current working situations. No longer tied to big, expensive cities, many people have begun to discover the benefits of living in a beautiful place like Charleston can provide (including sun and warmth!). As such, condos have become in more demand. For some, a Charleston condo is a perfect getaway property - to work and vacation at the same time. For others, the thought of selling a small NYC condo, getting a nice Charleston one, and pocketing many hundreds of thousands of dollars is appealing. No matter your reason for looking at Charleston South Carolina condos for sale, here are five steps to buy your dream home!
Get Pre-Approved
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The first step in the buying process is to get pre-approved, assuming you will be obtaining a mortgage. If you are planning on buying the condo all-cash, you can skip to the next step!
A pre-approval is essentially a soft approval from the bank. They will run your credit report and use what you tell them for your income and other expenses as a basis for issuing the pre-approval letter. Then, when you apply for the mortgage, you'll need to verify what you stated during the pre-approval process. Assuming it all aligns with the pre-approval, the bank will approve you for the mortgage.
In a tight market like Charleston, it's very challenging to win bids without a pre-approval letter. The pre-approval letter gives the seller a sense of security, knowing that you will obtain the financing necessary to close the deal if they select you.
Therefore, before you do anything else, get a pre-approval letter from your preferred lender! That way, you can put offers in on homes with the confidence that you'll be able to close the deal!
Define Your Needs and Wants
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The next step in buying a condo is to get a good sense of what you want. In particular, you'll want to know three things: size, price, and area.
The size of the condo is essential to know early. If you are a single person, you might be able to get away with a one-bedroom unit. However, if you're a family with two kids, you'll probably be looking at three-bedroom condos with at least a couple of bathrooms. Ultimately, it would be best if you had a sense of the number of bedrooms and bathrooms your family needs.
With that in mind, to have a better sense of what you want, you'll need to look at prices. You'll want to look at condos at or below your pre-approved amount. At this stage, it's usually best to start involving a real estate agent. For example, at Southern Bell Living, we can work with people to help them get a ballpark estimate of their dream condo and help them find that dream property within their budget.
The last part is knowing the area you want. Again, a real estate agent can listen to your needs and requirements (e.g., the condo must be near a good school or must be near the beach). Your agent can help you find the best area that meets all your other criteria: price and size.
Alternatively, if you prefer to do some of this research online, you can. Indeed, on our site, <a href="https://www.southernbellliving.com/property-search/results/#styles_Condominium/">you can search for condos</a> only and peruse them to get a sense of what style, price, size, and area you want!
Ultimately, whether you use a real estate agent or do the research online, you need to have a good idea of what you want.
Look at Charleston, SC Condos for Sale and Place Offers
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The next step is to begin looking at Charleston, South Carolina condos for sale with your <a href="https://www.southernbellliving.com/about/our-team/" target="_blank">local real estate agent</a> and start putting in some offers!
Your agent will help guide you through the offer process. They'll be able to help you get the best deal financially while also helping to point out some positives and negatives about the property. When looking at condos, it can be easy to get swept up in all the positives or negatives about a place without considering the other side. For example, it might look perfect, but there are problems with the HOA that an agent can help point out. Having that second set of eyes with a fiduciary duty to you can help provide peace of mind that you're getting the best deal!
Once you see some places you like, your agent will help you place offers on them! Eventually, a seller will accept one, and you will be under contract. At this point, the seller will open escrow, and you'll need to wire the earnest money into this account.
Work Through the Purchase Process
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Typically, there is a 45-day wait until closing (sometimes lenders can do it more quickly, but condos often have a little more scrutiny than single-family homes). If you are buying the condo all-cash, you can close much quicker.
There are typically two inspections you'll need to complete: an appraisal and a home inspection. The appraisal is for the bank to ensure that the home is worth at least the offer price. The home inspection report is for you, the buyer, to know all the details about the condo you're buying. Home inspectors cover every part of the home, so you'll learn everything from minor repairs like a leaky faucet to substantial problems like mold.
If the home inspection reveals things you will want to repair, you can sometimes ask for a discount on the offer price. Your real estate agent can walk you through that process of asking for a little off your offer price!
Finally, during all of this, you will be completing the mortgage process with the bank. This process will typically involve significant documentation, including bank statements, W-2s, and more. Additionally, banks will need to review HOA financials and regulations to ensure the association is solvent and in good financial condition. This part of the process is what is different for condos relative to single-family homes.
Sign the Closing Documents and Enjoy Your New Home!
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After going through the purchase process, eventually, your lender will be ready to fund the loan. You'll attend "closing," where you will essentially sign a large number of documents going over every single aspect of the loan. After this signing, you will need to wire the rest of the down payment to the escrow company, and the bank will wire the extra amount necessary to cover the purchase price.
Once the money is in escrow, the documents will go to Charleston County for recording. After the county records the sale, the property is officially yours! Your agent will meet you with the keys after that, and you'll be able to enjoy your new condo!
Buying a Condo is Straightforward
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Buying one of the many Charleston, South Carolina condos for sale is relatively straightforward. While it can be a little labor-intensive - depending on documents necessary during the loan closing process - it is a well-documented, well-trodden path. Indeed, many people are surprised at how easy it is to get into the condo of their dreams!
Whether you're looking for a vacation home or a primary residence condo in one of the best places to live in the United States, <a href="https://www.southernbellliving.com/about/our-team/">please get in touch with us</a>! We would love to learn more about your needs and help you find the perfect unit!2021-11-15T06:01:00-07:002022-08-30T08:40:40-07:00Taylor Goldsberrytag:southernbellliving.com,2012-09-20:12121Buying and Managing Your First Investment Property in Charleston, SC<img src="https://assets.site-static.com/userfiles/1830/image/Blog_Images/Buying_and_Managing_First_Investment_Property/buy-home-house-is-placed-on-the-calculator-planning-savings-money-of-coins-to-buy-a-home-concept-for_t20_2WAp68.jpg" width="1067" height="673" alt="Miniature models of charleston homes on a calculator" title="Buying and Managing Rental Properties in Charleston" />
Real estate is a great place to put your money, offering an <a href="https://www.bankrate.com/investing/buying-income-property/" target="_blank">investment</a> for the long term. Even if you just break even at first, you can build equity in your properties. For those hoping to join the lucrative investment of real estate, check out these steps to take to get started in the land-lording business, presented by <a href="https://www.southernbellliving.com/" target="_blank">Southern Bell Living</a>.
1. Save for a Down Payment
No matter what type of property you buy, when you buy investment real estate as opposed to a new home for yourself, you have to put down a <a href="https://www.millionacres.com/real-estate-financing/articles/investment-property-down-payments-how-much-will-you-need/" target="_blank">large down payment</a>, probably 20% of the purchase price. You also need money for closing costs, along with cash reserves in case you have to make some unexpected repairs to the property right away.
2. Choose a Good Location
Look for <a href="https://www.southernbellliving.com/communities/" target="_blank">neighborhoods</a> where property values are <a href="https://www.homelight.com/blog/what-makes-property-value-increase/" target="_blank">increasing</a> more quickly than others. These areas should be vibrant, with new businesses coming into the area. If your property appreciates in value, you do not have to rely so much on making a lot of money every month. Instead, you are <a href="https://sparkrental.com/build-real-estate-equity-faster/" target="_blank">building equity</a> for the long term. Your renters will be paying to cover your mortgage and expenses while your property steadily increases in worth, leaving you in a great financial position in the future.
3. Establish an LLC for Protection
Experts recommend setting up a limited liability company to protect yourself in case you get sued in connection with your rental properties. An LLC prevents your personal assets from being dragged into any lawsuit. A lawyer can help you set up an <a href="https://www.zenbusiness.com/south-carolina-llc/" target="_blank">LLC in South Carolina</a>, or you can save some money by using a formation service.
4. Decide on Single-Family Homes vs an Apartment Building
You need to decide whether you want to invest in multiple single-family homes or purchase an apartment complex. Single-family homes may be easier to obtain, but multi-family properties can give you higher <a href="https://www.biggerpockets.com/blog/single-family-vs-multifamily" target="_blank">cash flow</a> since the expenses are spread out over many units.
5. Pick the Right Property
When you are deciding which income property to purchase as your first, don't choose a fixer-upper. These are fine for experienced investors, but when you are starting out, you should not get involved in something so complicated. Look for a property that is in good repair.
Make sure you <a href="https://www.redfin.com/definition/vacancy-rate" target="_blank">investigate</a> the vacancy rate of the property and compare it to average vacancy rates in the area. If too many units in your apartment building become vacant at once, you will not have enough money coming in to cover your expenses.
6. Consider Hiring a Property Manager
One big decision you need to make when you purchase a rental property is to determine who will manage it. Will you be comfortable handling it yourself? A <a href="https://climb.pcc.edu/blog/how-to-get-started-in-real-estate-property-management" target="_blank">property manager</a> has to find tenants, qualify them to make sure they are able to pay, deal with any problem tenants, do evictions when necessary, market the apartments, and manage all of the maintenance and upkeep on the complex. You need to decide if you really want to tackle all of this yourself or hire a manager or a property management company to handle everything.
By following these steps and doing your research, you should be able to make a success of your first foray into the real estate investing world.2021-11-10T06:32:00-07:002022-08-30T08:35:56-07:00Taylor Goldsberrytag:southernbellliving.com,2012-09-20:120083 Reasons to Pick Southern Bell Living as Your Charleston, SC Real Estate Agents<img src="https://assets.site-static.com/userfiles/1830/image/Blog_Images/3_Reasons_to_Chose_SBL/recruitment-specialists-toxic-workers-professionals-recruit-employees-search-employment-hr-staff_t20_Xx6JbX.jpg" width="1000" height="647" alt="Magnet searching for charleston real estate agent" title="Chose Southern Bell Living to Help Buy and Sell Your Home" />
When choosing Charleston real estate agents, numerous teams and brokerages are available to you. You'll see ads for agents, brokerages that promise to sell your home for more, and you might even run into some cash-for-home buyers.
Everyone seems to promise the same thing: to help you get the best deal on your property. Whether you're buying a home in Charleston or selling it, these ads promise to give you the best financial outcome.
However, not all Charleston realtors are alike. Indeed, choosing Southern Bell Living will give a prospective buyer or seller three critical advantages over many other firms in this city.
We Are Experienced Charleston Realtors
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Real estate requires experience. It requires in-depth knowledge and knowing what buyers and sellers want and how to help them arrive at the desired outcome.
At Southern Bell Living, we have that experience. Our skilled agents know Charleston incredibly well. They know where to get you the best deals if you're buying or how to market your home to gain maximum exposure if you're selling. Additionally, our agents have significant experience dealing with out-of-state buyers, so if you're looking to sell your home, that experience will give you so much more exposure and selling versatility that other brokerages do not have.
That experience is also valuable in other subtle ways. For example, we have built a substantial database of trusted Charleston-based partners that can provide services for fantastic prices. Our partners can help with landscaping, virtual walkthroughs, staging, photography, and more. Having these services done will give you the maximum ROI since our partners can complete them inexpensively, and the changes may boost your sales price significantly!
When it comes to choosing a Charleston real estate advocate, trust experience!
We Are Meticulous
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If you are looking to sell your home, we provide a full-featured service to ensure your home gets on the market as quickly as possible and receives the highest offer it can. We'll create a custom website for your property (<a href="http://1115pembertonfarmslane.sbl-homes.com/">example here</a>), and we will get the necessary drone footage, walkthroughs, photography, staging, etc., done to make sure any buyer's first impression of your home is love at first sight!
We don't stop there, though. Our agents will provide targeted advertising on social media platforms, provide expert market analysis, and optimize your listing on Zillow, Trulia, and similar sites to provide maximum exposure. We work diligently and leave no stone unturned regarding advertising to ensure everyone interested in your property can find it as efficiently as possible!
For buyers, we apply the same approach that we do to selling. We'll listen carefully to your needs. Every buyer is looking to move to their Charleston home to fulfill a dream or vision. Maybe that's your first home with a lovely yard for the kids! Or, maybe, you're a retired couple from a high cost-of-living area and are looking for something simpler and cheaper. No matter your story, we want to hear it and help you find the perfect home!
We also take our fiduciary duty to our clients seriously. We will work with all clients and negotiate to ensure they are getting the best deal possible!
Charleston Real Estate Agents at Southern Bell Living Are Modern
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There are, unfortunately, many Charleston real estate agents and brokerages that are "stuck in the past." Outdated, slow websites and overall lack of technological adoption make dealing with these firms challenging - primarily if you are accustomed to the quality of service that you get from many other major companies.
At Southern Bell Living, we have taken the opposite approach. We believe strongly in the power of technology to help sell your home as fast as possible.
For buyers, we have an efficient, modern website (that also works on mobile devices). Buyers can scroll through properties that interest them and filter for what they want. Furthermore, unlike some of the major home search sites, on Southern Bell Living, you'll find plenty of authentic content about what life is like in each of the Charleston areas. You'll be able to see what <a href="https://www.southernbellliving.com/communities/mount-pleasant/" target="_blank">Mount Pleasant</a> offers and what homes are like there, or if you want to be closer to nightlife, see if <a href="https://www.southernbellliving.com/communities/downtown-charleston/" target="_blank">Downtown Charleston</a> might be a better fit. At Southern Bell Living, buyers can get a feel for each area in a modern, technologically friendly way.
For sellers, that efficient website also attracts buyers who have an interest in your property! We continuously improve our site's rankings on major search engines like Google to attract more people to your property. That means listing your home with us (and on our site, of course) will give your property more exposure than many other agents. We don't stop there, though. Our belief in being modern means that your home will be on all the major listing sites. That includes at least Zillow, Trulia, and targeted social media advertising. We believe in meeting buyers where they are and, increasingly, they're online!
Bottom line: when you choose us to be your real estate agents, you'll have an advantage over the competition!
Choose Southern Bell Living to Guide You Through the Process
<img src="https://assets.site-static.com/userfiles/1830/image/Blog_Images/3_Reasons_to_Chose_SBL/business-strategic-planning-risk-management-new-markets-opportunities-action-plan-solution-path_t20_VJRbJb.jpg" width="1055" height="699" alt="blue line going through hexagon blocks surrounded by arrows on blocks" title="Southern Bell Living Agents Guide You Through The Process" />
There are other reasons why Southern Bell Living is the premier way to buy and sell in the Charleston area. Did we mention that <a href="https://www.southernbellliving.com/agents/johnbell/" target="_blank">John Bell</a> is one of <a href="https://www.southernbellliving.com/about/ramsey-trusted-elp/" target="_blank">Dave Ramsey's Endorsed Local Providers</a> and that our team is among the top 1% of agents in the nation? Or that we have over 100 5 Star ratings on <a href="https://g.page/r/CSw97mqQkseoEAE" target="_blank">Google</a> and <a href="https://www.zillow.com/profile/johnbellrealtorchs/" target="_blank">Zillow</a>?
Whether you're looking to move to Charleston to downsize, go to school, raise a family, or enjoy some of our fantastic food and sunny beaches, we're available to help turn your dreams into a reality. Our trustworthy, tenacious Charleston real estate agents are available to make the home buying process much easier. We offer an innovative, tech-focused approach to real estate. Similarly, if you're looking to sell, we'll apply that same approach. Indeed, you'll get the most from your Charleston property!
If you're looking to buy or sell in the Charleston area, <a href="https://www.southernbellliving.com/contact/" target="_blank">please contact us</a>! We would love to hear from you and see how our agents can work for you!2021-10-29T04:51:00-07:002022-08-30T08:34:14-07:00Taylor Goldsberrytag:southernbellliving.com,2012-09-20:11952Luxury Homes in Charleston, SC: Here Are 3 Things to Know Before You Buy!<img src="https://assets.site-static.com/userfiles/1830/image/Blog_Images/Luxury_Homes/358-Ralston-Creek.jpg" width="900" height="600" alt="historic district charleston luxury home" title="Luxury Historic Charleston Home" />
As anyone that has been to the Charleston area will tell you, this city has some of the most beautiful, exquisite homes on the market. You can find it all in Charleston, from affordable houses for the family to luxurious mansions with a pool and a huge garage. With increased flexibility to work remotely, people are increasingly looking to cash out their home value in places like San Francisco and New York to explore the higher-end of Charleston real estate (which is a significant upgrade!). If you are looking at luxury homes in Charleston, SC, there are three things that you need to know before buying one of those exquisite properties!
Ensure All Financing Is in Order Before Looking at Luxury Homes in Charleston, SC
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If you will be buying one of the luxury homes in Charleston, SC using an all-cash offer, this point doesn't apply to you. However, if you're looking at a higher-end property (or even a mid-level property), you should know that financing requirements are a little more stringent for these homes relative to the smaller ones. Additionally, with today's fantastic interest rates, getting a mortgage can sometimes make sense, even if you can buy it in cash.
The conforming loan limit for the Charleston area currently sits at <a href="https://singlefamily.fanniemae.com/originating-underwriting/loan-limits">$548,250</a>. Without going into too much detail (as that would be beyond the scope of this post), essentially, loans below this limit receive federal backing from Fannie Mae or Freddie Mac, while loans above that threshold do not.
Therefore, loans above $548,250 are riskier to banks than loans below that threshold. Loans above that amount are "jumbo mortgages," and banks will typically scrutinize them a lot more than conforming mortgages.
Getting a jumbo loan typically means three things:
You'll need a higher credit score required (typically, at least 700 vs. 670 for a regular mortgage).
You will need a lower debt-to-income ratio (typically 45% or lower).
You may need cash reserves (it's not uncommon for a lender to want to see 12 months or more of mortgage payments in cash or retirement accounts).
Ultimately, these added steps mean that if you are financing your luxury home purchase, please ensure you get pre-approval before you start looking at housing!
Luxury in Charleston Means Luxury
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If you come from a high-cost-of-living place like NYC or San Francisco, you should know that luxury in Charleston means real luxury. For what you can get in some of those markets, an equivalent home in Charleston will have big open spaces, gorgeous balconies, palm trees, and (often) lots of land area.
As a quick example, $5 million in parts of Palo Alto, CA might get you a six-bed, four-bath 4,000 square foot home on 7,500 or so square feet of space. $5 million in Charleston can get you a meticulously crafted 6-or-more-bed, 6-or-more-bath home with 8,000+ square feet of space sitting on half an acre or more. The Palo Alto home will look like any other home in the suburbs. In Charleston, you'll have a grand entranceway, exquisite backyards, elegant kitchens and baths, pools, and some of the best-landscaped gardens in the country.
The same paradigm holds for New York and other high-end places. If you're coming from these high-cost-of-living cities, you can often double your bedrooms, double your bathrooms, and have significantly more space. You'll feel like you're truly living in luxury, as opposed to paying significant amounts of money for a home that feels like any other residence! Charleston luxury is genuinely something to behold!
There Are Two Types of Luxury Homes in This City
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Lastly, there are two types of luxury homes in Charleston, SC: historic and modern.
Many of Charleston's historic homes (in the Historic District) are luxurious mansions with significant history. You'll find homes that a Founding Father once inhabited. You'll find homes that a former President resided in or another famous historical figure. Charleston has a long, rich history behind it, and that's reflected in the real estate.
These homes are large and luxurious but are also sometimes on the National Register of Historic Places. That can come with restrictions on what you can do with the property. It might not be a simple endeavor to redo the kitchen, for example.
Outside of downtown Charleston, other homes are more "modern" (the word "modern" in this context means not built in the 1700s!). These unrestricted homes typically come on expansive lots. They are also some of the best places in Charleston to live and raise a family. Indeed, it's not uncommon to have these exquisite residences on half an acre of land or more!
Therefore, before you take the plunge on a Charleston luxury property, discuss your preference with your real estate agent. That is, do you want something more historical or more modern? Charleston has plenty of both!
Luxury Homes in Charleston, SC: There's Inventory Available
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There are numerous, reasonably-priced luxury homes in Charleston, SC. Whether you're looking at buying something for $1 million or $10 million, there's a home for you! The best part about Charleston is that you can feel like you're getting your money's worth in this city. Instead of paying for something small, why not own a home where a Founding Father once lived? Why not enjoy a multi-car garage and wide-open spaces instead of feeling cramped in a comparatively small apartment or condo?
And did we mention that Charleston has some excellent schools and very safe neighborhoods? It also has some of the best food you will find anywhere in the United States!
If you're looking to upgrade your lifestyle, you'll want to look at some of the luxury homes in Charleston, SC. <a href="https://www.southernbellliving.com/contact/">Please get in touch with us</a>! We would be happy to learn more about your situation and help you find the right home for your needs.
Lastly, please also check out our guide to <a href="https://www.southernbellliving.com/communities/downtown-charleston/">Downtown Charleston</a>, including the most recent home listings. There, you will find some of the city's best luxury homes. You'll even find some with upcoming open houses for you to check out!2021-10-20T06:48:00-07:002022-08-30T08:27:02-07:00Taylor Goldsberrytag:southernbellliving.com,2012-09-20:11868Real Estate Trust vs LLC: Which Is the Best Option for Charleston, SC Investors?<img src="https://assets.site-static.com/userfiles/1830/image/Blog_Images/Trust_vs_LLC/concept-money-currency-investment-finance-cash-coin-business-wealth-grow-success-financial-growth_t20_mRRgAr.jpg" width="1055" height="703" alt="Small plant growing out of gold coins" title="Property Investment Trust vs LLC" />
Are you considering buying an investment property? If so, you are making a wise financial decision. Historically, real property has been one of the best wealth builders in the United States. It's not uncommon for home prices to appreciate 10% or more in any given year, and that's on top of the rents you can collect! With a vibrant economy and still (comparatively) inexpensive housing, Charleston has emerged as one of the top spots for investors. Investors looking to protect their assets (and we recommend you do) frequently debate using a real estate trust vs LLC for their investments.
Here's what you need to know about the topic, including which of these legal structures would work best for you!
Real Estate Trust vs. LLC: What Are These Entities?
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Before getting into the pros and cons of using each type of entity to buy your investment property, there's some critical background information that all investors should know.
First, real estate investing can incur legal liability. Something could happen with the property and injure your tenant, for example. In that case, the renter may sue for damages. Your assets (including your home) could be up for grabs if you, and not a company, own the property. Plus, if you buy a property in your name, anyone can look you up and know you own it. Therefore, most people want a legal entity to give them some level of privacy and shield them from some legal risks.
There are two commonly used entities to hold real estate: a real estate trust and an LLC.
A real estate trust is a simple legal entity that any lawyer can set up. Usually, it is a legal vehicle for people to pass assets to heirs, but people needn't necessarily use it for estate planning purposes. Technically, at its core, it's merely a way for some people to hold something for the benefit of others.
An LLC (short for limited liability company) is a formal legal structure recognized by all states, including South Carolina, that is a stand-alone business entity. It acts much like a corporation but is easier to set up and has less onerous reporting requirements. LLCs, as the name implies, shield owners from liability. It's possible to "<a href="https://www.nolo.com/legal-encyclopedia/piercing-the-limited-liability-veil-single-member-llc.html">pierce the corporate veil</a>," but it's not easy with LLCs.
The question then remains, between these two legal vehicles, real estate trust vs. LLC, which should you use?
Real Estate Trust Benefits and Drawbacks
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To start, let's consider a real estate trust first. Real estate trusts are incredibly easy to set up. Any estate lawyer can set one up on behalf of their client. Some jurisdictions, like Charleston, don't even require people to register them with the county! They sit at a law office and are legal entities authorized to make real estate purchases.
Due to their nature, there are three main benefits that investors get when they buy using a real estate trust:
Estate planning: If you want to ensure that your property avoids death taxes when you pass away, the real estate trust is fantastic for that - after all, that's its primary purpose!
Easy to have multiple owners: A trust makes it easy to document all the owners and their relationships (including who gets what if one or more owners pass) in a single document.
Anonymous (for multiple owners): If you are buying the property alone, you'll probably be the principal trustee, so people can know you own it pretty quickly; however, if you have multiple owners, the trustees are often obscured.
There are two primary downsides to using this method to buy a property:
No liability limitations! If your tenants sue, your personal assets will be on the line. This downside is significant for using a real estate trust.
Frequently changing rules: Unfortunately, the regulations around trusts can change. They are not as straightforward and iron-clad as corporate law.
All in all, real estate trusts are a fantastic option if you want to pass your investments to your heirs tax-free. They are not a good choice if you would like liability protection!
Limited Liability Company Pros and Cons
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A limited liability company requires a little bit more paperwork and some money to set up. In South Carolina, an LLC costs somewhere between $100 and $400, depending on whether you have a lawyer do it or elect to fill out all the paperwork yourself. However, if you are investing from another state, you'll want to form the LLC in your home jurisdiction. In some states, like Nevada, Washington, and Texas, it can cost hundreds of dollars to form an LLC. When considered, though, with the hundreds of thousands you'll spend on the property, though, it's a relatively minor expense!
There are two main pros of LLCs for prospective South Carolina investors:
Liability protection! Unless they can pierce the corporate veil (which is rare if you set it up correctly), your assets won't be fair game in a lawsuit or bankruptcy.
More flexibility in property ownership: With an LLC, you could potentially even own a commercial property or multi-family unit. While it's possible to have those without a corporate entity, they're also higher risk (people coming in and out more frequently). The LLC gives you more freedom to buy any property in Charleston that you want, knowing that you have that liability protection.
There are two cons to LLC ownership:
You're still not anonymous: looking up the owners of an LLC is as easy as going to your secretary of state's website and searching for the company. Structured right (and with enough people) a trust can provide some anonymity, whereas there is no way for an LLC to provide any.
Not as significant as inheritance tax benefits: While you can get a 40% discount transferring an interest in an LLC to your descendants, it's not as straightforward or intuitive as a trust is. It requires a lot more work and planning to avoid taxation.
All in all, an LLC is a wise decision when looking to own real estate! The liability benefits are significant, and the flexibility of property types is excellent if you're looking to expand your rental units!
Real Estate Trust vs. LLC: Which You Pick Depends on Your Situation
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Ultimately, the type of vehicle you use to own your Charleston property depends mainly on its purpose. When considering a real estate trust vs. LLC, neither is unequivocally "the best." Choose a trust if you want to pass these homes to your children and lower their tax burden. However, if you are younger and are looking to build out your portfolio of rental properties, minimizing liability is substantial. That alone likely makes the LLC the more favorable legal entity.
Consult with a lawyer and a real estate agent. They can both help you find the right legal structure for your investments!
Charleston is one of the best areas to buy an investment property. It has a vibrant economy, sunny weather, and a picturesque lifestyle! If you are interested in purchasing an investment home, <a href="https://www.southernbellliving.com/contact/" target="_blank">please get in touch with us</a>! We'd love to help find you the perfect property!2021-10-08T08:32:00-07:002022-08-30T08:24:11-07:00Taylor Goldsberrytag:southernbellliving.com,2012-09-20:11557Charleston, SC Housing Market: 3 Reasons Why We’re Not in a Bubble<img src="https://assets.site-static.com/userfiles/1830/image/Blog_Images/We_Are_Not_In_a_Bubble/Home_for_sale_sign.jpg" width="1017" height="678" alt="Home for Sale Sign in front of Charleston Home" title="Charleston is not in a Real Estate bubble" />
Anyone following the Charleston housing market knows how much prices have gone up over the past year. Indeed, in January of 2020, the median price of a Charleston-area home was around $340,000. Now, that average is about $411,000. Those with keen math senses will immediately recognize that increase is about 20%. In one year, that's a significant boost to property values!
The fact that properties have gone up so much has made some would-be homeowners nervous that they're buying at the top of a bubble. In other words, they believe that we've hit the peak of this market, and there's nowhere else to go but down.
While nobody has a crystal ball that can predict the future, most of the indicators that we do have show that Charleston is not in a bubble and that buying a home now is one of the best ways to lock in your price and take advantage of future capital appreciation!
Here are the top three reasons the Charleston market will continue to grow and be in high demand!
The Charleston Housing Market Contains Gorgeous Properties
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One of the most significant reasons we expect the Charleston housing market to continue to thrive is quite simple: this area has some of the most gorgeous properties anywhere in the United States. From older-style mansions to smaller homes, there's a style, shape, and fit for everyone here. Plus, the weather is fantastic, and the schools in Charleston are among the best in South Carolina.
Given that COVID has shown us how we can live and work remotely, it's reasonable to assume that people will continue to seek great places to live, even if those aren't necessarily in the big cities. Charleston ticks many of the boxes that families and young professionals want. It's vibrant, fun, and a wonderful place to raise children!
That desirability will almost assuredly mean that property prices will continue to rise in the future as more and more people seek all the benefits that this area has to offer!
Property Prices Almost Always Stay Stable or Grow
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Another reason why the housing market is likely to remain stable is that it almost always does. Many people who are looking to buy a home now are old enough to recall the 2008 recession. During that time, the housing market collapsed, and prices dropped significantly. Understandably, that makes people nervous about buying at the peak nowadays.
However, it's essential to recognize that the 2008 period was an anomaly in the housing market. During this time, <a href="https://www.jchs.harvard.edu/blog/past-recessions-might-offer-lessons-on-the-impact-of-covid-19-on-housing-markets">housing prices in the United States declined an average of 12.8%</a>. But, in the first three recessions since 1980, home prices only fell by 1.7%, 3.5%, and 4.4%. In the 2001 recession, home prices rose by 5.3%!
By contrast, <a href="https://www.postandcourier.com/business/real_estate/charleston-area-home-prices-have-soared-since-the-start-of-coronavirus-pandemic/article_244d77d6-0da0-11eb-8206-b72e7d018651.html">the home prices in the Charleston area have soared during the pandemic</a>. Currently, homes are increasing by as much as 10%+ year-over-year.
Therefore, if history is any guide, maybe if a recession comes shortly, buyers could save somewhere between 2-5% off the cost of their home. But this pales in comparison to the gains appreciation in home value if that recession doesn't come. Indeed, as history has shown, home prices usually don't just bottom out in recessions - the Great Recession was unique in that regard.
Ultimately, statistically speaking, you're almost always better to buy a home earlier to take advantage of capital appreciation than you are to try and predict the market! Home prices seldom decrease significantly!
Genuine Demand Still Continues to Outpace Supply
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Lastly, genuine demand and interest in the Charleston area continue to outpace the supply of homes here. Bubbles can sometimes happen when investment companies buy and hold houses, expecting a profit later down the road. It's not uncommon in some areas, for example, to have an investment company buy a property for $1 million, hold on to it, and then sell it for $1.2 million six months later. That type of growth is unsustainable. The only demand comes from investment companies, not from genuine homeowners!
However, in the Charleston area, people genuinely want to live here. Much of the demand in this area comes from people looking to leave higher cost-of-living places, like New York and California, and enjoy the sunny beaches and more enjoyable lifestyle that Charleston offers!
Compared with California and New York, property prices in Charleston are still relatively low and thus likely have some room to continue to grow. The demand isn't merely flippers and investors - real people want to come here seeking better weather and better affordability.
Given that, it would be challenging to imagine a world where that demand suddenly ceased, and property prices fell because of it. Indeed, quite the opposite! As more and more workers elect to be remote instead of heading into the office, the Charleston area will likely see an even higher demand in the future!
The Charleston Housing Market Is Strong Overall
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With gorgeous inventory and genuine demand for housing, the Charleston market will likely remain relatively strong for the foreseeable future. Plus, if history is any guide, even a recession won't lower prices that much.
These indicators point to the fact that the Charleston housing market is not in a bubble by any means. Indeed, the opposite is likely true. As the pandemic continues and more workers elect for a remote lifestyle, Charleston will remain one of the top areas in the country to work and live. With excellent schools, gorgeous housing, and some of the best food in the nation, few places in the world can top what Charleston can offer families and young people alike.
If you are interested in purchasing a home in this lovely city, please speak with one of our Charleston real estate agents! You can call us at (843) 287-9888, or you can <a href="https://www.southernbellliving.com/contact/">fill out our contact form</a>. We would love to learn more about your situation. We can find a perfect Charleston home for you and your family. Now is as good a time as any to buy to take advantage of future capital appreciation!2021-09-10T06:53:00-07:002022-08-30T08:13:40-07:00Taylor Goldsberrytag:southernbellliving.com,2012-09-20:10697Mortgage Broker vs Mortgage Lender in Charleston, SC<img src="https://assets.site-static.com/userfiles/1830/image/Blog_Images/Mortgage_Broker_vs_Lender/mortgage-concept-loan-house-money-rates-real-estate-home-estate-model-real-financial-property_t20_KvXlL1.jpg" width="1170" height="589" alt="Money back with Mortgage written on it with green Charleston model home" title="Charleston Mortgage Broker vs Lender - Real Estate Agents Near Me" />
Are you ready to apply for a mortgage loan and begin the hunt for your Charleston dream home? If yes, then you are faced with a weighty decision. You have to choose between the two main providers of mortgage financing, namely, mortgage brokers and mortgage lenders. Generally, it was quite common in the past for prospective home buyers to turn to their banks for their mortgage needs. Today, there exist more options than ever before as the growing presence of mortgage brokers has become far more noticeable. To help you choose wisely, this write-up outlines what you need to know about mortgage brokers and mortgage lenders.
How Charleston Mortgage Lenders Work
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Mortgage lenders constitute both banks and other direct lenders. They lend money to borrowers to purchase a home. Mortgage lenders tend to be an obvious choice for many when applying for a loan. This is because they make loans directly to you using their finance. This makes the lending process fast and much easier. When the loan funds are made available to the borrower, it is then kept in the lender’s portfolio of investments for future reference. Loan officers usually earn commissions for originating loans. Usually, these commissions are non-negotiable. Mortgage lenders such as banks often do not have many options to offer. This is so because they only sell products offered by their employer. Nonetheless, due to some level of trust and ongoing engagement between customers and their banks, they can benefit from bank loans.
Advantages of Mortgage Lenders
You may get to enjoy discounts as a result of an already existing relationship with your bank.
They are more trustworthy and accountable. Because you know them, you won’t have to deal with much anxiety.
They can add a loan to your existing banking profile and make automatic payments from your linked accounts.
Disadvantages of Mortgage Lenders
Mortgage lenders/banks do not disclose what they make on your loan. Hence, you may be overcharged.
They offer fewer products. This may be a limiting factor if they don’t sell the loan that’s best for you.
They have a very lengthy and bureaucratic process.
How Mortgage Brokers Work in Charleston
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Mortgage brokers are considered middlemen between borrowers and lenders. They link borrowers to lenders and earn commissions on either of them depending on the loan rate. For loans with lower rates, the borrower usually pays about 1% of the loan amount as the broker’s commission. Meanwhile, loans with higher rates may include an allowance that can be used to pay the broker’s commission. This allowance is called a Yield Spread Premium (YSP). Brokers can work with more than one lender. Hence, they are open to a variety of products and price points.
Advantages of Mortgage Brokers
Brokers can be very easy to negotiate with because they set their profit rates.
They are less bureaucratic and easy to contact.
You get more options because they work with many lenders
Disadvantages of Mortgage Brokers
Brokers may overcharge you as they sometimes get more complex loans.
Their loans can take longer to close.
They have little or no control over the loan process. This is because they do not work for the lender.
As we have seen, there exist both advantages and disadvantages to having to use any of the two main mortgage financing providers. The result of using mortgage brokers or lenders varies by circumstance. Whether you choose to use a lender or a broker, always shop around for the best loan terms, lowest interest rates, and fees. Always compare the broker’s rates and services to that of your local bank and credit union, just to be sure.
2021-05-11T07:38:00-07:002022-08-30T06:54:46-07:00Taylor Goldsberrytag:southernbellliving.com,2012-09-20:10518HOA or No HOA for Your Charleston, SC Area Home? That Is the Question<img src="https://assets.site-static.com/userfiles/1830/image/Blog_Images/HOA_or_No_HOA/Blog_2020-08-20-The-Pros-and-Cons-of-Virtual-Events.png" width="1280" height="720" alt="Street sign with pros and cons arrows" title="The pros and cons of HOAs in Charleston - Mount Pleasant Real Estate Agents" />
The heated debate of living in a neighborhood with a homeowner’s association (HOA) has been going on for decades. Since the first master-planned communities started appearing at the end of WWII, homebuyers have had to decide whether an HOA is worth it or not. As with most aspects of home buying, it's up to you! That said, one must make some important considerations before buying a property in a neighborhood with an HOA organization. Potential buyers will be provided a document of CC & Rs (covenants, conditions, and restrictions) i.e the Rule Book, which will include all the roles and responsibilities of that particular HOA. This document should be reviewed CAREFULLY and for every community, you are interested in because HOA's are like snowflakes, similar but never the same. Below we will provide you with both the benefits and the drawbacks of having an HOA
HOA Benefits
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There are several positives to owning a home in a community with an HOA. Restrictions and rules that some find limiting also limit everyone else in the neighborhood. It's entirely possible that you can’t tell the difference between one white house color and the HOA-approved color, but that same rule prevents your neighbor from putting a flaming skull in there and painting the house orange.
Community Appearance and Standards
Any and all elements of the community will be overseen by the HOA. This includes but is not limited to house colors, landscaping, tree maintenance, and various other visual components that must be approved by the HOA review board before being installed in the home. Communities will have neighborhood parks and trails which are also maintained by the HOA. Other items an HOA handles are other amenities like swimming pools, tennis courts, and workout facilities, and playgrounds.
Lower Maintenance Costs
Depending on the HOA, the lawn, landscaping, and other maintenance-related tasks are dealt with by the HOA. This generally includes services such as trash pick up, street sweeping, water, some will even offer internet and cable packages.
Association Management
HOA management level of control can vary from one association to another, but all provide some level of authority over the community. Disputes between neighbors that might otherwise land in court are often resolved by a review board with the authority to make final decisions.
Higher Home Values
In the Charleston real estate market, home values are higher in neighborhoods that have an HOA than those that do not. HOA's have policies that forbid a property or area to become neglected or unsightly. This keeps the neighborhood looking more pristine than those without and ultimately attracts homebuyers.
HOA Negatives
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Naturally, this level of oversight can also seem a bit much at times. Depending on the rules and regulations, homeowners in some neighborhoods might find their personal preferences restricted on their own property. Which can be unsettling to some.
Design Restrictions
HOA's will almost certainly have restrictions on the appearance of the exterior of the home as well as the overall lot. The goal is to create a sense of unity in the appearance of the neighborhood. This can be something as simple as the colors of the home, to something more specific like the type of lighting you use or the style of the front door.
Parking and Street Use
Most HOA’s have rules in place that dictate how parking is addressed in the community. Not only will the use of parking decals be controlled, but usually the homeowner is prohibited from leaving the garage door open or parking a car in the street. RVs and other large vehicles are also typically also not allowed.
HOA Fees
HOA fees add cost to homeownership and can range from cheap to outrageous. Depending on the amenities and services offered as well as the financial health of the HOA. As a homeowner, you will pay for the HOA through monthly fees, which generally range in the hundreds of dollars/month. Additionally, if the finances of an HOA are mismanaged, the owners can be assessed extra fees/costs to adjust or make large repairs. While members of the HOA are also owners and subject to the same costs, if they can’t make payments required, the HOA as a whole will have to pay.
Bottom Line
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Living in an HOA-managed neighborhood can make a massive difference in your enjoyment of a property - and this can be both positive and negative. As we mentioned above, before you buy a home with an HOA, it’s vital that you review the CC & Rs to confirm you are willing to adhere to the rules. We also recommend that you investigate the financial records of HOA and observe the overall impact of the HOA on the specific community.
Once you evaluate those items, then you can truly determine the value an HOA brings to you, your family, and your home. If you are not sure if a neighborhood has an HOA, <a href="https://www.southernbellliving.com/about/our-team/">reach out to one of our agents</a> and we can provide you with the detailed information needed to make an educated decision. 2021-04-16T10:17:00-07:002022-08-26T15:37:14-07:00Taylor Goldsberrytag:southernbellliving.com,2012-09-20:101845 Reasons Charleston, SC Is the Perfect Destination for Remote Workers<img src="https://assets.site-static.com/userfiles/1830/image/Blog_Images/Remote_Work_Charleston/focused-millennial-woman-gardener-in-overalls-watching-educational-webinar-on-laptop-writing-blog-or_t20_R0Bzxd.jpg" width="1015" height="677" alt="Woman working from her Charleston, SC home" title="Working remotely in Charleston - Real Estate Agents Charleston" />
Familiarly known as the “Holy City” for the church steeples that punctuate its skyline, Charleston is a true American gem of a city. It’s no wonder that Charleston has won the title of “<a href="https://www.travelandleisure.com/worlds-best/cities-in-us">Number One Best City in the US</a>” from Travel and Leisure for the last eight years in a row.
Now, with the global coronavirus pandemic causing tens of thousands of workers to transition to remote working formats, plenty of people are looking for a change of pace. Newly remote workers are investigating where to re-locate, and their interest is piqued especially by cities primed to accommodate remote working needs.
It just so happens that Charleston, South Carolina has the perfect qualities to attract work from home (or wherever) employees. Let’s take a look at five reasons why Charleston is the perfect destination for remote workers.
1. Downtown Charm and History
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Eminently walkable, quietly memorable, and resplendent with visual delights, Charleston’s downtown offers plenty of sleepy allure for visitors and residents alike. Any good remote worker knows the huge importance of taking daily walks to refresh the mind and stretch out the body after sitting for long hours in front of the computer screen.
Perfect for pedestrians and bicyclists, downtown Charleston offers streets lined with palmetto and impressive antebellum facades. With its iconic church steeples, sweet alleyways, and cobblestone streets, downtown is like a mini Europe in the middle of the American South. Charleston takes its buildings seriously- it was the first city in the United States to create a board of architectural review. So today, people can still walk among its historically significant buildings.
For remote workers who want a break from the home office, downtown Charleston offers plenty of ideal work spots. From the luxury of the Mills House Wyndham Grand Hotel, where you can utilize the hotel’s <a href="https://www.broadbandsearch.net/service/south-carolina/charleston">high-speed internet and Wi-fi</a> and professional business center, to the laidback minimalist atmosphere of a local favorite coffee shop, Black Tap Coffee, any work from home employee who wants to work in town will easily find a workspace they can enjoy. Then take a tour of a nearby historical landmark like Fort Sumter or visit a Civil War monument, gaze at the city’s grand old mansions, and visit the country’s oldest public garden, Magnolia Plantation. History can be uncovered everywhere in Charleston.
2. Job Market and Millennial Appeal
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With a fairly new Volvo factory opening in town and an expanded Boeing production facility, Charleston has a flourishing job market and a quickly growing economy. In fact, the city’s economy <a href="https://www.postandcourier.com/business/charleston-s-economy-will-keep-growing-but-at-a-slower/article_1dc8e4ce-3942-11e9-8de2-439b14edfc1e.html">outperforms the national average</a> annually. The proliferation of jobs and the influx of job seekers looking to work in this port city creates a vibrant local economy. Investments in the city itself create new businesses, so millennials are particularly attracted to the opportunities present here.
Tech startups have begun to flock to Charleston’s sunny streets. These new tech businesses tend to invest in sophisticated remote working platforms and offer hybrid remote/in-office workspaces. For students who have recently graduated from Charleston’s universities, local tech startups provide job prospects, while Charleston’s startup-friendly atmosphere presents opportunities for new projects to develop.
3. Cost of Living
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Working from home allows you to cut costs on office space and your daily commute, so you might as well live somewhere where you can save up. Besides just being a great place to live, Charleston offers a relatively low overall cost of living. Taxes are lower here than other top destinations, <a href="https://www.payscale.com/cost-of-living-calculator/South-Carolina-Charleston">real estate is more affordable</a>, and gas is cheaper.
Outside of downtown, Charleston’s other neighborhoods are quickly expanding, as more and more people relocate to this Southern beauty. Neighborhoods like Daniel Island, Mount Pleasant, Johns Island, Moncks Corner, and West Ashley offer plentiful warm, and welcoming small-town community atmospheres with big-city amenities- at reasonable price points.
4. Warm Outdoors
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A year-round perfect climate makes Charleston the ideal place for outdoor exploration; the perfect way to blow off steam when you are done with the workday. The salty ocean air of this port city can help you decompress after a long day of video meetings and telework. Walking along the port looking at boats and crashing waves, or strolling through the magical nature trails at Cypress Gardens, in the middle of a lush swamp, you can relax and let your mind wander.
Studies show that the best ideas often come during a walk in nature, so let your problem-solving work itself out as you wander through Charleston’s natural wonders. For weekend adventures, James Island County Park offers over 600 acres of trails to discover, as well as camping cabins if you want to spend the night.
And the city’s Atlantic Ocean beaches offer activities like golfing, boating, kayaking, paddleboarding, and sunbathing. With all that time saved from eschewing the daily commute, you can take more time to enjoy the great outdoors and shore up your work/life balance.
5. Southern Hospitality
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There is no greater feature for new residents of Charleston than the friendliness of its people. Incredibly warm and welcoming, the population of Charleston takes traditional Southern hospitality to heart. For remote workers, the human connection of working in an office place can often be the missing element in a remote work lifestyle. Working all day on virtual platforms, anyone can become lonely or feel isolated. But here in Charleston, newcomers are welcomed straightaway. Don’t be surprised if a stranger goes out of their way to assist you. In Charleston, a stranger can quite easily become a new friend.
Ready To Make the Move?
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In terms of southern hospitality, the realtors at Southern Bell Living are no exception. If you are ready to find your home in Charleston, these knowledgeable real estate professionals are ready to help share the unique charms this special city has to offer. With characteristic kindness and integrity, <a href="https://www.southernbellliving.com/about/our-team/">the team at Southern Bell Living</a> can help make your home-buying journey in Charleston seamless, easy, and inspiring.2021-03-03T05:56:00-07:002022-08-26T14:41:18-07:00Taylor Goldsberrytag:southernbellliving.com,2012-09-20:10138Home Inventory Is at a Record Low in Charleston, SC. So How Do You Buy?<img src="https://assets.site-static.com/userfiles/1830/image/Blog_Images/Low_Housing_Invetory/low-inventory-sellers-cover.jpg" width="700" height="366" alt="charleston wood-block-model-houses-with-a-red-arrow-pointing-down representing low home inventory in charleston" title="Low housing inventory in Charleston, SC - Charleston Realtors" />
There is no question that the Charleston real estate market is on FIRE (not literally)!! It is one of the most desirable locations in the world: growing job opportunities, great schools, and an amazing culinary scene. Add these up, and you have created the perfect storm for a real estate boom. What is more, despite the current pandemic situation, the<a href="https://www.searchforcharlestonrealestate.com/charleston-market-statistics.php"> home sales volume exponentially increases</a> year over year.
Below we have provided you with some tips, tricks, and considerations you should think about when buying a home in this unprecedented market.
Ensure Your Financial Security
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Financial health, affordability, and job security are essential considerations you need to make before purchasing a home, especially when there is low inventory. First, make a list of your monthly expenses that include your essentials such as:
Healthcare
Education
Food and entertainment
Transport
Monthly rent
Monthly loans
Evaluate your monthly income vs expenses and try not to exceed more than 28% for mortgage expenses. It’s necessary to keep this ratio low to qualify for better rates on your mortgage. This analysis enables the buyer to understand their affordability before applying for loans. These beforehand preparations also determine whether the purchase will provide a solution to your problem or add more to it.
Prioritize Your Needs
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Don’t get bogged down by miscellaneous information. Before investing in Charleston, recall your wants and needs, then go for the “House Hunting Mission”. Before beginning any research, clear your mind, analyze your lifestyle, and make a list of your priorities. After this step, you’re good to hit the pavement. House hunting includes inspection of your desired location and paying attention to some valuable aspects. These aspects include:
Target your ideal areas: Research the various Charleston areas to find the one that best suits your lifestyle. Ask yourself important questions like, how close am I to the beach? (if you want to be near the beach). Is shopping close? Do I need a car? How are the schools? Places to eat? All important questions when considering the area you want to live in.
Visit your neighborhood: Visit your preferred area by yourself rather than relying on the information provider. Look for convenient amenities such as hospitals, schools, and communities. Roam across the street and check if the environment is suitable for raising a family or matches your requirements.
Choose the street carefully: Mending a home is more straightforward than fixing a street. Select the road more carefully than selecting your neighborhood. Beautiful houses seem attractive on more superior streets than damaged ones.
Style and dimensions of the building: Make sure your purchase’s construction and style match your lifestyle. Analyze the measurements, floors, and design of the building for payment.
Convenience and restrictions: Make a thorough inspection and figure out whether the location is spacious enough to accommodate your vehicles or pets.
Be Creative and Craft a Great Offer Letter
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Sellers love to hear from people who resonate with their neighborhoods and discover more about who they are as people. Writing a great offer, describing yourself, and letting the seller know about your interests can help you secure your deal. Everyone loves a good story, but not everyone considers mentioning them in their offers.
Be Flexible with Your Budget
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Buying a house with a low inventory record is a great deal of money. You may need to expand your budget or apply for a loan to get your dream home. Be clear about the buying costs and agree to pay more (within your means).
Come Up with the final price as soon as possible and try your best to convince the seller at a suitable price. Increasing the amount of upfront payment can also favor your deal. Let's suppose you pay $7000 rather than $2000 as an upfront payment. This gesture will confirm your sincerity and devotion towards the seller's property and help you secure the deal.
Compromise on Minor Defects and Ask for Fewer Repairs
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Every seller would prefer a buyer with lesser demands and more payments! Remember the seller has several options to sell his house at such a competitive location. So, let’s seal the deal with compromise.
Don’t ask for unnecessary repairs and try fixing minor things on your own. But if the repair is mandatory and can’t get settled at your end, ask the seller to help you. Sometimes showing concerns with the property can help to build trust and win a competitive situation. Don’t let anything come between you and your dream of getting a home in Charleston SC.
Hire a Top Charleston Real Estate Agent (like us =))
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Hiring a professional Charleston real estate agent is perhaps the single most important aspect of this entire process. We know how things work and our many years of experience can save you time, money, and help your deal stand out. You will need a real estate agent at several critical points in the process and many of which you may not even realize. A trustworthy real estate agent can make things work even in your absence, which is often the case.
At Southern Bell Living, rather than leaving you to handle it all we facilitate and or provide the following:
A reliable lender/broker.
A top 1% real estate agent.
An efficient real estate attorney.
A team of professionals which includes electricians, plumbers, and a handyman.
Most agencies leave you to manage all of this on your own, but not us. We understand that experience matters, and when we take as much burden off your shoulders as possible, the process becomes enjoyable rather than dreadful.2021-02-25T12:32:00-07:002022-08-26T14:25:36-07:00Taylor Goldsberrytag:southernbellliving.com,2012-09-20:9771How Do I Buy a Home in Charleston, SC When I Live in Another State?<img src="https://assets.site-static.com/userfiles/1830/image/Blog_Images/How_to_buy_a_home_in_another_State/Woman_Researching_Home_For_Sale_in_Charleston_SC.jpg" width="1051" height="701" alt="woman searching for Homes for Sale in Charleston, SC" title="How to Buy a Home For Sale in Charleston, SC When you LIve in Another State" />
With the COVID-19 pandemic giving more people the flexibility to permanently work from home, many people are now re-evaluating where they want to live. Once tied to specific (often highly-priced) cities for their work, more and more families are looking to relocate to lower-cost, family-friendly towns all across America. Many people are looking at purchasing properties in other states. In theory, that sounds easy, but in practice, how to buy a home in another state is a little more involved than it looks.
As real estate agents in Charleston, SC, we receive numerous inquiries from people looking to relocate from California, New York, Texas, and other places. Therefore, we wanted to provide you with the top three things you should know about relocating to another state (and we certainly hope you pick South Carolina!).
How to Buy a Home in Another State: Leverage Remote Technologies
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The first (and often most significant) complication that arises when you're looking to buy a home in another state is how do you see these properties? If you're in California, for example, and want to look at houses here in Charleston, that's potentially a six-hour flight or longer. Sure, you can look at them online, but photos don't quite match the experience of being there. How do you feel on the streets? What does the neighborhood have?
Historically, buyers would have needed to fly out to Charleston, spend a week or two, look at properties, and hope to place an offer before their return flight. Now, with technology, there are plenty of agent-led home tours. Agents can also talk with you about the neighborhoods, including which ones might work for your dreams and aspirations.
Now, it is worth noting that this typically doesn't completely replace an in-person tour. But, you can get a good sense of the property on FaceTime, Skype, or a similar video chatting platform.
Of course, if you see a property you like and you're ready to put an offer on it, you can always make a flight then to experience it in person.
Using technology, though, you can often filter homes that would not work for you and only make a trip if you find one that does. Of course, if you feel confident enough to purchase without seeing it in person, that's always an option, as well. The entire process, including the offer and inspections, can be done entirely online (but we generally recommend physically seeing it once).
Getting a Mortgage May Not Be as Straightforward
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Let's say you've been living and working at Company X in San Francisco for three years. When you go to a bank for a mortgage for a San Francisco home, you'll show the bank that you have a long history of earning some amount of money at Company X. The bank will accept that as proof of income and issue you a loan decision based on that.
If you're relocating to another state with the same company, same salary, and an identical position, you won't have any issues.
However, when considering how to buy a home in another state, most people looking at making a move don't have the same financial situation. <a href="https://insights.dice.com/2020/09/15/these-tech-companies-want-pay-cuts-for-remote-workers/">Some companies look at giving cost-of-living adjustments</a>, while others aren't relocating with the same company. Instead, they're taking a job offer for an entirely new one.
Therefore, when it comes time for income verification, some fundamental aspects of your employment may have changed. Most of the time, this isn't a problem. However, it would be best if you discussed potential financing options with your real estate agent - including any future changes to your job - before you make an offer. There's a good chance that your agent can put you in contact with a trustworthy lender who can help you get the mortgage you need, even if your finances will be a little bit different post-move!
If you are looking for a local Charleston area full-service lender who can provide the best rates, optimal tax strategy, and a frustration-free process contact our dedicated partner, <a href="https://www.mortgagenetwork.com/ethan-lane" target="_blank">Ethan Lane of Mortgage Network</a>, today.
How to Buy a Home in Another State: Consider Your Own Financial Situation
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Overall, South Carolina has a favorable tax structure. We have <a href="https://dor.sc.gov/tax/individual-income/faq">a relatively low-income tax rate</a>,<a href="https://dor.sc.gov/tax/sales" target="_blank"> a</a> <a href="https://dor.sc.gov/tax/sales">sales tax rate of just 6%</a>, and a <a href="https://www.easyknock.com/blog/south-carolina-property-tax-rate-a-complete-guide">fantastic property tax rate</a>. There's a good chance that if you're moving from a higher cost-of-living state like New York, you'll save a lot of money living here.
However, you should plan out your financial situation and see what you can expect when you relocate. If you're moving from a state with no income tax (Texas or Nevada, for example), then you'll be paying more in-state income taxes here. Not a lot, but it is something.
Most people know their state's finances and forms well, but there are almost always expenses that surprise you once you move. For example, if you own a car, the cost of car tabs will be different in your new state versus your old one. Similarly, if you own a business, registering it and paying taxes on profits will not be the same in SC relative to your home state.
The bottom line here is simple: make sure that you make an in-depth comparison of your cost of living, including any salary adjustments you expect to happen before moving. If you're moving to South Carolina, there's a good chance that it'll be cheaper here than the state you're moving from, but make sure you do some research beforehand. Of course, your local Charleston, SC, real estate agent can help answer many of these cost-of-living questions for you.
If You're Thinking of Moving to Charleston, it's Easy!
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Other than the three things above, moving to a new state follows the same process as moving within the same location. You'll see some houses, make offers on the ones you like, get a mortgage, do the inspections, and move! The process itself doesn't change, but some financial aspects may be different. For example, it's often harder to see the home in person. Fortunately, with a little bit of research, the help of a qualified real estate agent, and video chatting technologies, you can make the experience as smooth as buying a property in your home state.
If you're wondering how to buy a home in another state and you're interested in beautiful, sunny, and tax-friendly Charleston, SC, please <a href="https://www.southernbellliving.com/about/our-team/" target="_blank">contact us</a>!2021-01-15T06:09:00-07:002022-08-26T14:00:13-07:00Taylor Goldsberrytag:southernbellliving.com,2012-09-20:9675Buyers: Why Do I Need a Local Charleston, SC Real Estate Agent?<img src="https://assets.site-static.com/userfiles/1830/image/Blog_Images/3_Reasons_You_Need_a_Charleston_Agent/Shopping_For_Homes_-_Realtors_Near_Me.jpg" width="1058" height="705" alt="miniature shopping cart with wooden models of Charleston South Carolina homes" title="Shopping For Homes - Realtors Near Me" />
Buying a home can be a straightforward process. You look at some houses, visit the ones you like, make an offer, get a loan, and attend the closing. After the home closes, you get the keys and enter into your brand new, beautiful purchase, beginning your life in one of the loveliest cities on the east coast - Charleston, SC! Conceptually, the process of buying a home is simple. As such, many homebuyers contemplate skipping having a Charleston real estate agent and elect to visit some open houses independently.
While this decision is understandable, in our experience, it's a mistake. As a buyer, having a quality real estate agent on your side can make the difference between having a home you love and making a purchase you regret. Here are three reasons why you need a buyers' agent!
Local Charleston Real Estate Agents for Buyers Have a Fiduciary Duty
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One of the biggest reasons to use a licensed real estate professional for homebuying is their strict code of ethics. That includes a <a href="https://www.nar.realtor/sites/default/files/handouts-and-brochures/2014/nar-fiduciary-duty-032213.pdf">fiduciary duty</a> to all clients.
This simple fact means that real estate agents are required to act in their client's best interests. When looking at homes, negotiating prices, negotiating money off for repairs, and engaging in all the other little nuances of the buying process, your real estate agent must look out for your best financial interests. That means your agent will recommend fair and competitive offer prices and recommend reasonable discounts for home repairs. They'll be looking to save you money throughout the process.
When buying a home, there are often little things that can affect a home's value. A classic example of this is a roof that is getting older and will need repairs. A buyers' agent can point these things out during the process. This "second set of eyes" is beneficial to first-time homebuyers who may not have quite the same experience looking at and analyzing homes to make sure they're getting a good deal.
So, if you want to make sure you're getting the best bang for your buck, a buyers' agent is the best way to ensure that you're not overpaying.
Experience is Significant in Real Estate
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The experience that seasoned agents bring to the buying process is impossible to overstate. The best Charleston real estate agents know the city like the back of their hands. They know which places have what you want in a home.
Many homebuyers want an area in Charleston with the best schools. Where is that? There are various areas, but many of the top schools are in <a href="https://www.greatschools.org/south-carolina/mount-pleasant/">Mount Pleasant</a>, which boasts numerous schools with an eight or above rating.
Do you want a safe neighborhood? There are many perfectly safe areas in the city, but <a href="https://www.extraspace.com/blog/moving/city-guides/safe-affordable-neighborhoods-in-charleston/">you might want to consider</a> Riverland Terrace, South of Broad, Stiles Point, Wagener Terrace, or West Ashley.
Where's the best food? That depends on personal preferences, of course, but some of the top-rated restaurants in the city include <a href="http://butcherandbee.com/">Butcher and Bee</a>, <a href="http://www.rodneyscottsbbq.com/">Rodney Scott's BBQ</a>, and <a href="http://www.wildoliverestaurant.com/">Wild Olive</a>.
Whether you're local to South Carolina or moving from out of state, having an experienced buyers' agent will help ensure that the move is a success. They'll help you make sure that the area you're locating in is what you want. Your buyers' agent will work with you to understand your needs, budget, and desires. They'll then recommend some homes that meet that criteria!
This point is vital for those looking to buy a home from out of state. All too often, listings can look pristine online but have a much different vibe when you visit in person. Having a Charleston real estate agent understand your wants and ensure that you're looking at homes that match those priorities is vital. That way, you can have higher confidence that you will be happy with your purchase!
Buyers' Agents Help with the Contingencies
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Once you get your offer accepted by the seller, there are typically three contingencies associated with it. The home must appraise for at least your offer amount, it must pass home inspection, and you need to obtain financing in good faith. If any of those fail, the offer is void.
A quality buyers' agent helps with all of these contingencies. Your agent will help you if the home doesn't appraise. They'll help you either negotiate the price down or figure out another financing alternative. Similarly, they'll help you understand, interpret, and negotiate your price down depending on the home inspection results.
No home is perfect, and there's often an opportunity to save some money!
Finally (and perhaps most critically), your buyers' agent will help you figure out financing options. You may already have a bank or credit union and just want to go with them. If so, that's great! But, if you run into any issues, for whatever reason, your buyers' agent can help you work through them. If necessary, your Charleston real estate agent can recommend preferred lenders who might be able to get your loan through and get you into your dream home!
A Charleston Real Estate Agent is FREE for Buyers
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The best part about all of this is that a Charleston real estate agent is free for buyers. Yes, sellers must indeed pay 5-6% of the sales price commission to both agents (2-3% for the seller's and buyer's agents each). However, <a href="https://www.biggerpockets.com/forums/311/topics/242612-buying-without-a-realtor---saving-money">you don't save any money by electing to buy a home on your own</a>. If you don't have a buyers' agent, the seller will wind up paying the full 5-6% to the selling agent. Only if neither side has an agent could you possibly save a little bit off the sales price.
So, given that you don't save any money by going it alone, there isn't much reason not to get the negotiating power, fiduciary responsibility, expertise, and overall assistance that a buyers' Charleston real estate agent can provide. The best agents can save you money, find you the perfect home, and help you get the best loan - all for free!
That sounds like a win-win!
If you're interested in buying in the Charleston area, please <a href="https://www.southernbellliving.com/about/our-team/">contact us</a>. We would love to hear more about your story and see if we can help you find your perfect home in Charleston. It's a beautiful city, and we're confident you'll love it here!
We'd love to be the first to welcome you to your new home!2020-12-31T06:59:00-07:002022-08-26T13:46:14-07:00Taylor Goldsberrytag:southernbellliving.com,2012-09-20:96175 Reasons Why Moving to Charleston, SC Is the Best<img src="https://assets.site-static.com/userfiles/1830/image/Blog_Images/Moving_To_Charleston_is_the_best/Downtown_Charleston_Skyline_-_Downtown_Charleston_Real_Estate_Agents_Near_Me.jpg" width="1500" height="1125" alt="View of Downtown Charleston homes at Sunset with Ravenel Bridge and Cruise Ship in back" title="Downtown Charleston Skyline - Downtown Charleston Real Estate Agents Near Me" />
Charleston is a beautiful city. As a city of about 130,000 people situated on the east coast at the southern end of South Carolina, Charleston has a rich history, fun activities, and a family-friendly environment. Initially settled in 1630 as "Charles Town," honoring King Charles II, Charleston remains as attractive of a place to live in now as it was nearly 400 years ago. As we'll see, moving to Charleston, SC, is as smart of a decision now as it would have been all those many years ago.
With COVID, many employers are letting people work remotely. People from all over the US are looking for beautiful places to live with low crime, good schools, and a family-friendly atmosphere. Here are five reasons why Charleston, SC, is a city you'll want to consider for your family!
When Moving to Charleston, SC, You'll Notice Affordable Homes
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Property prices in Charleston are not like what you'll find in other parts of the country. Housing is relatively affordable. $400,000 or less will buy a beautiful home. If you're looking for a condo, you can get one of those for under $200,000. For a fraction of what you'd pay for a condo in a much bigger city, you could have a beautiful home or luxury condo here. The average home sells for <a href="https://www.zillow.com/charleston-sc/home-values/" target="_blank">just $348,000</a>. Imagine what you could do with the money you'd save on your mortgage!
If you're moving to Charleston, SC, and want luxury living, this city has that too. For example, waterfront homes and luxury condos in Folly Beach run for about $1 million, which, again, is a fraction of what you would pay for something in the Hamptons, or parts of Los Angeles, for example.
Some surrounding cities you might want to consider are Goose Creek, James Island, and Mount Pleasant. Each of these places has its perks (as we'll see, Mount Pleasant has one of the best schools in South Carolina). If you want the <a href="https://www.extraspace.com/blog/moving/city-guides/safe-affordable-neighborhoods-in-charleston/">lowest crime neighborhoods</a>, consider Riverland Terrace, South of Broad, Stiles Point, Wagener Terrace, and West Ashley. These places have affordable homes, low crime rates, and a fantastic selection of homes.
Charleston is affordable by all measures, but the beauty of this city is that you don't have to compromise. No matter what type of home or lifestyle you want, you can find it here - it'll just cost less money!
Charleston Has Fantastic Schools
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Charleston has some of the best schools in South Carolina. According to the US News best schools ranking, North Charleston and Mount Pleasant have the <a href="https://www.usnews.com/education/best-high-schools/south-carolina" target="_blank">top four schools</a> in the entire state. These are two suburbs of Charleston. For example, <a href="https://www.greatschools.org/south-carolina/mount-pleasant/254-Wando-High-School/#College_readiness" target="_blank">Wando High School</a> is among the highest-ranked schools, scoring 10/10 on college readiness.
Speaking of college, your college-age kids might want to attend the College of Charleston, which was ranked "<a href="https://www.greatschools.org/south-carolina/mount-pleasant/254-Wando-High-School/#College_readiness" target="_blank">America's Most Beautiful College Campus</a>" in 2017. The best part is that the college has <a href="https://finaid.cofc.edu/financial-aid-information/cost-of-attendance/tuition-and-fees/" target="_blank">relatively low tuition</a> at $12,000 per year for a resident for undergraduate studies and $7,000 a year for graduate degrees. It's also a great school, coming in #8 in the <a href="https://www.usnews.com/best-colleges/college-of-charleston-3428" target="_blank">Regional Universities South</a> ranking.
Moving to Charleston, SC, will provide your children with an excellent education at more affordable prices than you would see in many other parts of the country.
Moving to Charleston, SC Means Southern Hospitality
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One of the most pleasant surprises for people who relocate to Charleston is that this city takes classic Southern hospitality quite seriously. Charleston was ranked the second friendliest city in all of the United States, <a href="https://www.cntraveler.com/?us_site=y" target="_blank">according to Conde Nast</a>. Visitors and people who move here tend to feel quite welcome. People smile on the streets, strike up conversations, and tend to know each other. You get many of the small-town benefits in a larger city.
Part of what makes Charleston so friendly is the culture and people here. It's a vibrant city, full of life, fantastic food, and <a href="https://www.charlestoncvb.com/plan-your-trip/arts-culture-entertainment~206/?id=12981" target="_blank">equally excellent culture and art</a>. To be called a "<a href="https://www.travelandleisure.com/trip-ideas/exploring-charleston" target="_blank">world-class culinary capital</a>" by Travel and Leisure means that you'll never run out of food options. To be blunt, it's hard not to be happy here, which means that people are more approachable and friendly in Charleston than in most places. If you want to live and work in an area where it's easy to make lifelong friends, moving to Charleston, SC, should be at the top of your list!
Charleston Has Nearly Perfect Weather!
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If you've been to some of the southern states, you might be wary of moving to Charleston because of the weather. However, it's important to remember that Charleston is right on the Atlantic ocean, which moderates temperatures quite a bit, and the result is idyllic weather throughout the year.
Summers are warm but not too hot. The average high is only above 90 for one month out of twelve. The average low is never below freezing during the winter. Charleston rarely sees snow and has fairly average humidity (so you won't get as many of those humid days as you might experience in Alabama or Florida). Charleston is also sunny. It receives 2,800 hours of sun per year. To put that into context, Los Angeles gets 3,200 while New York City gets 2,500 hours per year.
For the most part, you'll get beautiful weather in the 60-80 range and average precipitation (about the same as New York). Of course, if it does heat up, you can always go to the Atlantic to cool off!
Charleston Provides a More Laid Back Lifestyle
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Charleston has significantly less traffic than many other cities. If you're working remotely, that might not matter. However, what does matter is that you can get to all three beaches within 20 minutes from the downtown area. You can reach anywhere within the city with about a 30-minute car ride. If you want to soak up the sun and get some exercise, Charleston is a bike-friendly town. If relaxing in nature is your idea of a good time, you're also in luck - the <a href="https://www.fs.usda.gov/main/scnfs/home" target="_blank">Francis Marion National Forest</a> borders Mount Pleasant. Your family can have lots of fun camping and exploring this beautiful nature preserve.
Therefore, when you're not working, there are plenty of options to de-stress, unwind, and reconnect with your family. You also won't need to sit in a bunch of traffic to get to any of these places!
Moving to Charleston, SC is a Smart Move
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Pre-pandemic, Charleston became a highly sought-after destination for a myriad of reasons. The quality schools, lower cost of living, and more pleasant lifestyle were all drawing people to this beautiful city. Now, with the pandemic, people, more than ever, are considering moving out of the bigger towns and going somewhere where their dollar stretches further, the people are friendlier, and they can raise their family with good schools and plenty of yard space.
That place is Charleston. It's the perfect place to raise a family. With excellent schools, beautiful homes, fantastic food, and nearly unparalleled beauty, Charleston is idyllic in many ways.
If you're interested in making a move to Charleston, please <a href="https://www.southernbellliving.com/about/our-team/" target="_blank">contact one of our real estate agents</a>. We would love to hear more about your story and see if we can help you find your dream home!2020-12-21T10:53:00-07:002022-08-26T13:34:17-07:00Taylor Goldsberrytag:southernbellliving.com,2012-09-20:9529Types of Mortgages Offered in Charleston, SC<img src="https://assets.site-static.com/userfiles/1830/image/Blog_Images/Types_of_Mortgages/Types_of_Mortgages_Offered_in_Charleston_SC_-_Realtors_Near_Me.jpg" width="1019" height="691" role="presentation" alt="Woman holding model of Charleston South Carolina Home with Cash Underneath" data-uw-rm-ima="un" 0="" title="Types of Mortgages Offered in Charleston, SC" />
When our parents were buying their first home, there was only one way to finance the purchase. They went down to the corner bank and asked for a 30-year mortgage. That was it. It was common to stay in the same house for the entire 30 years and they celebrated the final payment. It’s just not the way financing works today.
First of all, it’s unusual for someone to keep a mortgage for 30 years. The average homeowner moves every 5-7 years. Even paying off a mortgage might not be desirable as it’s one of the few tax breaks still available to the average person. Most financial advisors suggest using a mortgage as a financial planning tool.
Things have definitely changed. Depending on your needs there are a number of mortgage options you might consider, each with advantages and disadvantages.
Conventional Loan
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A conventional loan is still one of the most widely used types of mortgage. A conventional loan is normally still designed to be paid off in 30 years with equal monthly payments during the term of the loan. There are currently conventional loans that require as little as 5% down, although 20% is still commonplace.
FHA Loan
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An FHA loan is guaranteed by the Federal Housing Administration and is another commonly used loan. FHA financing is attractive for a number of reasons, especially for first-time homebuyers. The down payment can be as little as 3.5% and that can be a gift. FHA also typically does not have as stringent credit score requirements and other traditional loan requirements. The loan limit varies by state and county, so check with your lender about specific limits in your area.
VA Loan
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VA (Veteran Affairs) is a loan program offered for Veterans and their spouses. This loan allows the borrower to borrow 100% of the home’s value in the loan. While there will be closing costs, there is no down payment required.
Specialized Options
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Your local Charleston, SC lender will also have more specialized options for you, such as adjustable-rate loans and 10 or 15-year loans. They can also explain the additional costs that could be associated with each type of loan program. For instance, all loans with less than a 20% down payment will have Private Mortgage Insurance (PMI).
Bottom Line
Part of purchasing a home is finding the right financing. Your lender will talk you through your options. If you have not already spoken to a lender, or if you need a referral, <a href="https://www.southernbellliving.com/about/our-team/">our real estate agents</a> are a great resource for you. 2020-12-04T09:41:00-07:002022-08-26T13:31:13-07:00Taylor Goldsberry