Buying a Home in Charleston, SC

If you're looking to purchase a home in one of the few remaining buyers' markets across the country, you should talk with your Realtor to see how far below listing price your initial offer should be. He/she will be able to pull comps for your market to determine how low of an offer you can negotiate.

However, most markets in the United States have done a full pendulum swing from the 2008 to 2012 downturn and are now very strong sellers' markets. Charleston South Carolina is a great example for discussion. In real estate markets like Charleston, the best listings are going under contract within 24 or 48 hours of being listed. In higher price points or less demanded suburbs, this can take up to a week or two.

When sellers' markets see such a low

Condos and townhouses are the most affordable options for buying real estate since developers can build more of these per acre compared to detached, single family houses. When we talk with home buyers, they’re often confused about the difference between condos and townhouses. We’ve included below some important distinctions between the two types of property along with a checklist that should help you choose which option is right for you!

Condos: The Lowest Maintenance Home Possible

Many buyers compare condos to apartment living because paying bills is all that’s required. By definition, condos have no individual land ownership associated with them. In other words, a homeowner would own the unit itself. All of the common areas have shared

Savvy home buyers understand that purchasing a home costs significantly more than the final offer a seller accepts. If you are a first time home buyer, you might be tempted to stretch your budget to its limits in order to obtain the house of your dreams. However, this decision can set you on a path leading to a mortgage payment that you might struggle to afford.

Leaving a sizable buffer between what you can afford for a home and what you pay for a home is a wise home-buying strategy. Added on top of the price of the home are the closing costs, attorney's fees, and lender's fees. Approximately 3-5% of the purchase price is added for closing costs and lender's fees, which can include loan application and credit report fees, property appraisal costs,

When purchasing a home, you'll encounter plenty of jargon. In real estate, terms like ratification and earnest money are discussed before you even make an offer on a home. Plus, mortgage lenders have their own language to discuss how you'll be paying for the largest investment of your life. Although buying a home can be daunting, learning some of the most common terminology can help with each step of the process.

Earnest Money

When you make an offer to purchase, you'll need to include an earnest money deposit as part of your written agreement to show the sellers that you are "earnest" in your intent to buy their home. The amount is typically 1-3% of the purchase price, so on a $200,000 home you can expect to pay roughly $2,000. This deposit will

In a strong sellers' market, home buyers are told again and again that they have the lower hand when it comes to making offers. However, cash buyers have the strongest negotiating power of any type of home buyer for several reasons. For these cash buyers, it's still a sellers' market - but with more advantages. And in a multiple offer situation, sellers might choose the cash buyer even if his offer price is lower because there are fewer unknowns (and fewer causes for the home to fall out of contract).

Financing is Not a Concern

In our current housing climate of stricter mortgage rules and escalating prices, financing is a very common reason that real estate deals fall apart. Even buyers who have a pre-approval letter in hand when they make an

Some home buyers can’t look past a backyard with neighbors close by. Whether the house backs up directly to the home behind it or the neighbors on either side are closer than you’d like, know that there are ways to create privacy when you have a smaller lot size. All that’s required is a good idea and a vision.

Install Shutters or Curtains on Your Screened Porch

In our Charleston South Carolina market, a screened porch is a must for many home buyers. However, if you visit a listing and worry that the porch is too exposed for relaxation, we have two solutions. The more affordable option is to put up curtains so that you can choose whether to leave them open or closed. This is an easy, do-it-yourself fix that can also help keep your back porch

Many home buyers are eager to purchase a home because they understand that now is a good time to buy: prices are rising quickly, interest rates are low, and the inventory of homes for sale is shrinking. However, not all of these buyers who are willing to purchase are able to at the moment. Perhaps they have a home they need to sell in order to qualify for (or feel comfortable taking on) a mortgage. Or perhaps they need to save money for a down payment, work to improve their credit score, or wait for divorce paperwork to get settled. Although these home buyers want to purchase, a financial or personal setback delays their time frame by 6 to 12 months.

Buyers might consider lease to purchase homes because they seem like an ideal solution. In these

Over 2,300 Realtors recently took part in a study that examined the causes of fallouts for real estate contracts. We’ve included here the most common reasons that contracts fall apart along with tips to keep your closing on track.

Financing: 36%

Thirty-six percent of Realtors in the study cited financing as the cause for their ratified contract not making it to the closing table. To avoid falling into this trap, home buyers should talk with a lender before they start seeing homes. Many buyers think that their credit is better than it actually is, or they have mistakes in their credit report that can be easily fixed, or their self-employed status makes their income difficult to track, or their debt puts them just outside of the magic

Charleston home buyers often ask us about the availability of homes with elevators. Whether they’re looking for a townhouse (for less square footage and maintenance) or a single family home (for privacy), buyers often assume they can find a property with an elevator for under $500K. However, this is extremely difficult to find, and with prices escalating quickly in Charleston’s competitive real estate market, more and more buyers will get priced out of these types of homes. We’ve included below some of the most frequently asked questions we get regarding elevators along with alternative options to consider.

How much does it cost to install an elevator in Charleston?

Elevators cost about $22,000 to $25,000 to install if there is already an

Rainbow Row is made up of Charleston’s most photographed and painted homes. These 14 row houses have addresses that span from 83 to 107 East Bay Street. Every year, literally thousands of visitors flock to see these famous homes located between Elliott and Tradd Streets. We’ve included below a brief history of this Charleston icon along with real estate info for these highly coveted homes.

The History of Rainbow Row is Less Glamorous Than You Might Expect

Most of the homes on Rainbow Row date back to the mid 1700’s (you’ll find dates ranging from 1717 to 1787). Merchants operated stores on the ground floor and lived in the second and third floors. The location – which was waterfront at the time) – made these buildings an ideal commerce center