Today's market benefits two groups of buyers: first-time buyers, and buyers moving up. It is an excellent market to buy, especially if you don't have a current home to sell. For this reason, we're seeing a lot of first-time home buyers opting to buy instead of rent. Since these first-time buyers are not having to make contingencies to sell a home before buying another, they are able to use that negotiating power elsewhere (price, for example).
Even if you have a home to sell, it's a very good time to move up. It may take a little while to sell your current home if you're moving from a cooler market than Charleston's. But, remember that you'll also be relocating to a market with considerably higher gains. Some of Charleston's areas have seen 8 to 11% gains year over year, so keep these numbers in mind from an investment standpoint.
Many buyers are using this opportunity to move up, since they're able to use the equity they've accumulated over the past few years. This is a great time to buy with Charleston's strong buyers' market.
In short, today's market is ideal for first-time home buyers and buyers looking to move up. First-time buyers can also take advantage of loans with as little as a 3% down payment depending on the lender they choose!
Lee has worked for over 14 years as a Charleston South Carolina real estate agent. On his website, you can search the MLS for free and learn what it's like living in Charleston SC!
Comments(0)