When it comes to real estate in Charleston SC there are some things that make it a little different than your average run of the mill metropolitan city. On a macro-level, owning property in the Charleston SC tri-county area will most likely require you to have flood insurance as well as wind and hail insurance which you may not be used to carrying where you are moving from. Although our property taxes are fairly cheap as compared to a lot of cities, the insurance expense off sets it. There are ways to decrease your house insurance in Charleston SC, so make sure to consult with a reputable agent to take advantage of the possible discounts.
Another factor to consider about buying a home in Charleston SC is that the town is one of the busiest, and most loved cities in North America, from a tourism standpoint, thus living here year around sometimes gets frustrating in the height of the season. Honestly, there really isn't a "tourist season" anymore because it's pretty much all year now, whereas just 15+/- years ago it primarily was mostly April-Oct.
Lastly, real estate isn't cheap here as you might expect, I feel like a lot of people from around the U.S. think because it's South Carolina that property must be cheap. Yes, depending on where you are coming from it is (except NY, NJ, CT, DC, Boston, California, Chicago, Miami, etc), but to everyday middle America, and the midwest; real estate is out of reach for most. Doesn't mean you can't find a home, but you will be limited on the size of land (usually very small lots), size and quality of home as well unless you can spend at least $500k for a modest home.
If waterfront properties are your thing, then don't even consider Charleston if you don't have a least $400,000 and then you'll likely only be getting a small condo. For this reason fractional homes in Charleston SC are very popular because if you only wish to visit a few times a year then why not get something like partial ownership.
Beachfront homes in the Charleston SC area usually start well over $1 Million as you might expect, and if you find one just over the $1 Million mark you had better scoop it up. There are beachfront condos available as well that offer you more affordability but be aware that most of the condominium and villas have hefty HOA and regime fees since most are in gated resorts.
James Schiller
Charleston SC Area Real Estate Broker
P: 843.478.8061
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