Buying a Home in Charleston, SC

When a homeowner starts considering selling her property, she often visits one of the top national real estate websites like Zillow or Trulia in order to find her home’s value. When she finds that her Zestimate (or Zillow estimate) is $480,000, she’s thrilled! And she’s determined to get that exact price when she sells her home.

As we’ve written about before, online estimates such as the Zestimate have a 7.4% median error in our Charleston SC real estate market. This error in the algorithm can go above or below the actual value, meaning that the $480,000 could be off by $71,040! Online home value estimators are helpful for using as a starting point, but their algorithms don’t take into account factors such as:

• Upgrades (the $30,000 kitchen

So you’ve found the perfect home to buy and are getting ready to make an offer with your Realtor. She explains to you that you’ll need to include an earnest money deposit with your contract to purchase, and this amount is usually 1% of the offer price. Before pulling out your checkbook, you should understand that this deposit will go towards the amount you pay at closing. In South Carolina, this money sits in an escrow account, usually with your Realtor’s company, until the closing is ready to take place. However, there are 3 ways you can lose this money (meaning the seller gets to keep the entire amount). Pay attention so that you can ensure every dollar comes back to you on closing day!

Your Offer Included No Contingencies

A real estate

If you’ve checked out the latest Charleston real estate statistics, you’ve seen that last year was one of the strongest years in our metro’s recorded history. Although the average home lasted 58 days on the market before it went under contract, the listings that are most desirable often go under contract within just a few days for full list price. The homes in Charleston that sell the fastest are: priced well from the start, in good condition, newer, located closer to Downtown Charleston and the beaches, and zoned for good public schools.

Most buyers don’t realize how fast paced the market is now, especially if they’re relocating from another part of the country where it’s a more balanced market. Charleston currently has one of the strongest

According to the National Association of Realtors, millennials make up 31% of home buyers. This group of buyers could make up a substantially larger percentage over the next year. We’ve put together these quick tips specifically with millennial home buyers in mind:

• Resale is especially important since this will probably not be your forever home: Think of real estate as an investment. Chances are that you’ll sell this home and buy another one that’s larger or in a different area within 5 to 7 years. You’ll want your home to appreciate as much as possible so that it will sell easily (and for a good profit) when the time comes.
• Financing might be harder than you think: When you know that purchasing a home is in your near future, go ahead and

For many home buyers, public schools are not a factor in finding a neighborhood or home. These buyers assume if they don’t have kids, the quality of schools won’t make a difference in their home purchase. However, every buyer should consider resale and overall value when purchasing. For most people, a home is the single largest investment they make in a lifetime, so it’s important to choose a property that will increase in value as much as possible. Here are 3 reasons why you should take into account the public schools for an area – regardless of whether you have school aged children.

Obvious Demand from Parents and Teachers

Homes that have more buyers viewing their listing go under contract faster (and usually for more money). Selling a home is

As real estate prices increase around the country, home buyers are having to make tough decisions regarding their needs and wants. As Realtors, we hear some of the same questions over and over when buyers discuss two different lifestyles. We’ve included below pros and cons of each lifestyle to help home buyers whittle down what is most important to them for their next purchase.

Upscale Home or Upscale Location?

When relocating to Charleston or any other city, it’s hard for buyers to know which are the best areas to live. The most sought after areas are always the most expensive due to the high demand for real estate. In Charleston, areas like Downtown, Mt. Pleasant, and James Island give the best possible proximity to historic sites, the

When home buyers find their perfect match and make an offer, it can be devastating to find out that the offer was rejected. Many buyers right now are underestimating their market and don’t understand how strong of a sellers’ market we’re seeing in most cities around the country. Especially when buyers are coming from a slower paced market, it can take missing out on a home or two before they realize they’re going to have to pay close to full price to get the home they really want. As buyers’ agents, it can be tough on everyone involved when our clients have to learn the hard way.

If you’re a buyer actively searching in a sellers’ market, we’ve got all the info you need to make your offer count! If you’ve found your perfect home to purchase, don’t

College of Charleston students, parents, and the occasional staff often ask us for recommendations on investment properties. Regardless of who’s purchasing the home, they all seem to have the same 3 criteria:

• It must be within walking or biking distance to campus.
• The home must be in a safe area.
• The property needs to hold its value (whether it’s going to be sold in 4 years or held until retirement, it needs to be a good investment).

The Downtown Charleston real estate market is notoriously fast moving, and the best listings priced under $500K tend to go under contract the same day that they’re listed. Because Downtown homes are so unique, it also completely depends on what’s currently on the market. Unlike other go-to communities

As home insurance rates continue to rise, owners are looking for discounts and competitive premiums now more than ever. In an effort to save money, some home owners opt to reduce the amount of coverage which can be risky. For example, if you purchase a home for $300,000 and know that about $100,000 of the price is land value, we’d recommend coverage of $200,000. However, the buyer can compare rates and pay usually a hundred or two dollars less each year by covering only $150,000. If the buyer doesn’t have an extra $50K in his/her account to part with at any given time in the case of an emergency, this can be a huge mistake.

We’ve included below 5 legitimate ways to save money on your insurance policy that don’t involve gambling with your home. And

It’s tempting to get inspired by a home renovation show and try to save money by doing house renovation projects yourself. However, some tasks absolutely require a professional.

Refinishing a Wood Floor

Home improvement shows love to show before and after footage of worn, wooden floors in an old house followed by the gleaming, smooth planks after refinishing. However, if a floor isn’t properly sanded and timed just right during the staining process, the result is a patch work of staining that requires an entirely new refinishing. Many homeowners with painting experience assume they can tackle a floor refinish project, but they don’t take into account that paint jobs can simply be painted over again if there’s a mistake. When it comes to staining