Buying a home in Mount Pleasant priced under $400K has become increasingly difficult in the past few years. Although the inventory in this price bracket has shrunk drastically, there'ss still a huge demand from home buyers who want to live in this hot real estate market with some of the best public schools in Charleston, fantastic shopping, and upscale neighborhoods. If you find yourself sorting through few listings as you search the Charleston MLS, here are some pointers to give you more affordable options to consider:
Condos and Townhouses are the Most Affordable Homes
As buyers look to lower their maintenance and costs, condos and especially townhouses have become more popular. Mount Pleasant condos generally come with no yards but sometimes offer a private patio or screened porch. Some buyers say that this is more like apartment living and rule this option out. However, townhouses can give you the 3 to 4 bedrooms that most buyers desire and usually have a fenced yard or a yard that can be fenced with HOA approval. Having this private outdoor space makes a townhouse feel more like a single family home because it serves the same function for outdoor entertaining, space for pets, or a safe place to put kids' swings or play toys. Also, keep in mind that if you purchase an end unit, you'll share only 1 common wall with your neighbor which gives more privacy. Many Mt Pleasant townhouses for sale also come with garages, providing a house-like feel in the under $400K price range.
Some New Construction is Not on the MLS
Mount Pleasant new homes in builder-developed neighborhoods and subsections offer a price that is hard for pre-owned sellers to compete with. Builders often have listings or lots that are not included in the MLS - meaning that you won't see these in your search results. Contact us for recommendations or to check on current availability because this is the best way to make sure you're seeing all of your options!
Prepare to Renovate
The very few pre-owned houses that are listed in the Mount Pleasant area generally require a lot of work and out of pocket expense, or they're technically located in the rural town of Awendaw just north of Mt. Pleasant. If you're handy (or are willing to hire contractors to do the work for you), these listings are a third option to consider in order to meet your contract price goal. We typically don't recommend buying homes with structural/foundation problems or excessive damage/rot due to termites or moisture because these can be costly issues to inherit from the previous seller. However, projects like kitchen rehauls and new windows are reasonable for this price range and are to be expected if you have the cash and time to spare. And know that at The Keadle Group, we're happy to recommend electricians, plumbers, painters, and more to help get you started on renovating your home!