Charleston SC Real Estate: C’mon Down!
If you have thought about a second home as a vacation home or investment home, then you need to consider the Charleston SC real estate market.
This is also true for the Charleston SC real estate market as well.
The numbers vary depending in how you break them down–certain areas of Charleston are doing better than others.
But overall, the numbers are looking good. In fact, many areas of the Charleston SC real estate market are seeing numbers that we haven’t seen in years.
This includes the number of homes sold, the number of homes under contract, as well as home values.
In fact, take a look at the Average Sales Price for Charleston SC real estate over the last 10 years:
In March of this year, the Average Sales Price for Charleston was $298,512. In January, it was $301,264.
The peak for all of 2014 came in June, at $315,050. The previous highest Average Sales Price came in August 2007 at $318,038.
So, just 3 months into the New Year we have almost matched last year’s peak number, and aren’t that far off from a 10 year high.
According to The National Association of Realtors, vacation home sales were the highest in 2014 since they began tracking them in 2003.
Vacation homes can range from a cabin in the mountains, a home by a lake, to living by the beach.
They offer a chance to escape the daily routine and go somewhere to relax.
Charleston SC has long been a popular tourist destination, and many people that visit end up moving here. There is a lot to offer in Charleston SC.
Charleston SC Real Estate As A Vacation Home
It’s no secret that one of the allures of Charleston is the warm weather and proximity to the ocean.
A recent survey found that most people wanted to retire to a Coastal Community. Another popular destination was a Golf Community. In Charleston, you can have both.
Charleston offers so much more than warm weather. The people here are friendly, and Charleston consistently ranks in the Top 3 Cities for friendly folks by Conde Naste Traveler magazine.
Charleston also annually ranks high for top tourist destinations and culinary cities in polls by the magazine.
Charleston SC is a destination town for both tourists and people wanting to relocate. An investment in Charleston SC real estate is a good investment. Our economy remains strong and is not dependent upon one industry.
In recent years, we have been boosted by the opening of the Boeing plant, as well as Google coming to town.
The Carolinas are popular destinations for people relocating, as well as retiring. The Baby Boomers are in the midst of retiring, and many are choosing to come to North and South Carolina as opposed to Florida.
United Van Lines does it’s annual National Movers Study to see where people are moving to (and from).
In 2014, the Number 2 destination was South Carolina (North Carolina was a close 3rd).
Charleston SC real estate offers a variety of options for vacation homes. Charleston offers more than beach front living.
There is the intracoastal waterway, rivers, and tidal creeks that offer a variety of water access.
You can find beach condos, beach bungalows, up to waterfront mansions.
No matter what you want to do–you can relax and enjoy the views, play a round of golf in your backyard, fish, or just get out and enjoy the water–you can find it here.
Charleston SC Real Estate: Second Home As An Investment
Charleston SC real estate offers many options for a second home if you choose not to relocate here or use your vacation home more than a few weeks a year.
You can rent out your house as a vacation rental when you are not using it. You could also invest in a time share. But here is another consideration: college housing for your kids.
Charleston SC is home to The College of Charleston, Charleston Southern University, The Medical University of South Carolina, Charleston School of Law, and The Citadel–The Military College Of South Carolina.
All are good schools, and popular choices for out of state students. If you have college bound children (or will in the future), perhaps they might want to come to Charleston.
Instead of throwing money away on dorms or off campus housing, it might make better financial sense to purchase a house in Charleston and rent it to your kids and some friends.
There are tax advantages and write offs for this, plus you can receive some extra income to offset the mortgage.
Once your kids graduate, you can continue to rent it out for income, or simply sell for a profit. Or, you could move into to it for retirement. There are some beautiful historic homes down town, and a great environment for living in Charleston.
The Charleston SC real estate market is hot. If you would like to explore these options more, or if you would like to learn more about moving to Charleston and enjoying the Lowcountry Life, then call me and I will be glad to help you in any way.
In the meantime, you can learn more by visiting my Charleston SC real estate website.