Buying a Second Home in Charleston SC

Posted by on Friday, May 11th, 2007 at 8:42am.

Many people choose Charleston as their getaway destination.  Some people want a second home in Charleston so that they can have a home near the beach, so that they can have a home near family living in Charleston, so that they can have a private place to stay for business trips, so that they can have an investment that will provide plenty of enjoyment, or so that they can use the home first for vacations and then for retirement in the coming years. 


If you’re looking into buying a second home, try to get a good location.  This is especially important if you plan to use it as a vacation home.  If you want a home near the beach, look in areas that are actually close to the beach, like Folly Beach, James Island, Isle of Palms, Sullivan’s Island, Mt. Pleasant, Kiawah Island, and Seabrook Island.  It would be better to get a town home or condo that is in one of these areas (usually less than a 15 minute drive from the beach) than a single family home that is in, say, Summerville (almost an hour’s drive to the beach).


If you’re looking for a home near downtown Charleston, you may want to consider the Charleston Peninsula, Mt. Pleasant, Folly Beach, James Island, and parts of West Ashley.  These areas are for the most part less than 15 minutes from downtown Charleston.


Location is important when looking for a second home for several reasons.  If you only plan to stay in the home on weekends or for several weeks out of the year, you will probably want to be close to the things you want to do (like going to the beach or going to downtown Charleston).  And, if you are close to the places you want to go, you may use the home more often and get more enjoyment out of it.  A second benefit of good location is that the property should appreciate at a higher rate.  So, spending a little more money now can produce bigger results in the future when it comes time to sell it.  And third, depending on how much you plan to stay at the home, you could rent it out as a vacation rental (especially if it is close to the beach).  Doing this would provide some additional income that could pay for taxes, insurance, and upkeep.

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