Working in the greater Charleston real estate market means meeting a lot of folks looking to relocate here. The reasons vary greatly from job transfers, military transfers, retirees and those looking for a warmer climate. Often times, folks from other parts of the country are drawn by the idea of a lower cost of living.
There's a lot to research prior to making a move...what jobs are available? how are the schools? what's the climate like? what kind of shopping and amenities are there? what are taxes like? But sometimes it seems that the most obvious question is overlooked until last...what is the cost of housing like?
I often get requests from people who say they are planning a move to the area and would like to start to see some listings. I'm always happy to oblige. But here's the thing, they often times have very unreasonable expectations about what you can get for your money in the Charleston area.
For example, I once had a someone asking for a single family home on a large piece of property and it could be a little bit of a fixer-upper, but they wanted it to be on the water or with a water view. What made this a difficult request to fill was the fact that they wanted to spend no more than $200,000. Now, you can get a nice home for that price in this area, but waterfront is probably not going to happen. This person really needed to learn the local market.
Here's some things you can do to learn the local market and see if relocating makes sense for you...
First, take the time to talk to several lenders to see what you might be able to qualify for in terms of a new mortgage. You'll need to discuss with them what your current income is, but MORE importantly, what your potential income in a new place would be, so you will need to do some research as to what employers in the area will typically pay if you have not already landed a new job. But until you actually have employment there, most lenders will not approve a loan for you.
Second, you need to ask yourself what's important to you in a home...aside from the obvious things such as square footage, number of beds/baths...do you need a garage? (There are no basements here in the lowcountry, so for most people, this would be important.) Do you need a large yard? (Most newer subdivisions here have very small lots.) How close do you want to be to shopping, an airport, highways, the beach? (Being close to the beach here comes at a premium. For instance, homes in Mt. Pleasant and other areas with easy access to the beach are much pricier than homes in Summerville or Goose Creek where the beach is a 40-45 minute ride.).
Third, contact one (or several) realtors in the area that you are considering moving to and get their take on things. What does the type of home you want or need go for in this neck of the woods? What alternatives are there? Take the time to ask lots of questions about lifestyle, schools, taxes, amenities, commuting, traffic...anything of importance to you.
Lastly, if after all this research you feel this could be the place for you...schedule a visit to the area. Not to house hunt, but to take a good look around for yourself. Drive through neighborhoods, visit schools, pick up the local papers and pick up some of those magazines with listings of homes in the area. If you've made a good connection by phone or email with a realtor, see about scheduling some time to meet them in person and further discuss your needs and get your other questions answered.
Following a process like this can seem time consuming, but with the internet at your fingertips much of it can be done comfortably from your own home. And it will save you time and aggravation in the long run.
Visit these sites to help you research the Summerville and Charleston, SC areas!
For a free search of the entire Charleston area MLS with no registration required:
http://www.summervillerealestateonline.com/Search_MLS/page_1748693.html
For more on the buying process and a basic mortgage calculator:
http://www.summervillerealestateonline.com/Home_Buyers/page_2154263.html
For a cost of living comparison calculator from CNN (there are many others online as well):
http://cgi.money.cnn.com/tools/costofliving/costofliving.html
Maria Pettis
Realtor, ePro, SFR
Century 21 Properties Plus
http://www.mariapettis.com/
(843) 860-3901
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