The decision to move can be an exciting and stressful event. It can be even more stressful when you don’t know where you would like to move to. There are so many places to choose from and finding a place to call home can take a lot of time and effort. For those who are considering Charleston, South Carolina as an option, it should be known there are many things about the area that will make buying a home there different than anywhere else.
In recent years, the area has been transformed and become a top travel destination for visitors from around the world. Many of those same characteristics are what’s drawing people looking to move to the area.
1. Consistently Voted The Best City In South Carolina
Each year, a well-known travel magazine releases its list of the top cities to live in in the United States. For six years now, Charleston has maintained a top ranking on that list. When ranked in the 2018 list, it was considered a perfect city for living, vacationing and retiring in.
2. A Seller’s Market
Another thing that makes buying a home in Charleston different than other cities in the area is that it is consistently ranking as a profitable seller’s market. For the past few years, there are three things that point to the fact that sellers in the area are taking over the driver’s seat. These key metrics include:
•The inventory of homes for sale is low in the area. This means competitive pricing.
•The area is record-setting because the median-listed sale prices continue to rise on a yearly basis.
•Homes in the area spend a very short time on the market before they get sold. If you move to the area and decide it’s not for you or you need to move again, you will have no issues reselling your home.
Keep in mind, however, that the market in Charleston is just like any other. There are still going to be bargains you can find if you look hard enough or hire the right real estate agent. Some desirable areas and local neighborhoods in the Charleston area still have an inventory of homes available with reasonable selling prices.
3. Opportunities For New Construction
There are many new construction opportunities in the Charleston area to take advantage of. The key to making this work is finding an experienced agent to hire who knows the market inside and out and has connections with developers of real estate in the area. Many buyers new to the area do not realize there are often hundreds of new construction homes that are available. These homes are affordable and often not listed in the MLS searches.
The reason many of these homes do not get listed in the MLS is because they get snatched up before they have a chance to be. This is where having a knowledgeable real estate agent can come in handy. The right agent can uncover hidden opportunities for you before someone else has a chance to steal them away. Buyers just need a little help to take advantage of the hidden gems of Charleston.
South Carolina is one of the best states in the country for property taxes. A recent study indicated residents living in the states typically only pay about half a percent in property taxes of their home’s value each year. When compared to other states, South Carolina ranks the seventh-lowest in the United States. A new bill was recently passed in South Carolina that is making the income tax rate more competitive as well. When buying a home, taxes should be a top priority to consider.
These are just some of the top things that make buying in Charleston different from other areas around the country. It is a great area that is family friendly and also a unique area for retirees. There are many great neighborhoods in the Charleston area to consider for raising a family including West Ashley, John’s Island, Summerville, Mount Pleasant and downtown Charleston.
Each of these areas has family-friendly activities, quality school systems, affordable housing and convenient transportation options that anyone may take advantage of. Charleston is a great place to call home.