Did you know that more and more prospective homebuyers in the Charleston, SC area are choosing to purchase new homes to start their next adventure in the Lowcountry? Earlier this past summer, our New Homes Division here at Carolina One Real Estate released its first issue of the Charleston New Homes Snapshot for 2016. The Snapshot included great news for the real estate market in Charleston in general, but new homes sales really stood out. At the time of the creation of the publication, 29% of all closings in Charleston in 2016 were new homes. You can check out the entire first edition of Snapshot for 2016 here.
There are a number of reasons why new home sales are thriving right now in Charleston. First and foremost, the area has experienced job growth for some time. According to a summer survey, Charleston's metropolitan region ranked third in the country for job growth. Nearly every industry in the area planned to add new hires over the course of the summer, and this is expected to continue for the foreseeable future. Unemployment fell to 4.2% in Charleston, which is well under the national average. This job growth has enabled new families to move into Charleston and helped current Charleston residents make the decision to stay, perpetuating the boom in new home sales.
In addition to that, many retirees are relocating to Charleston to take advantage of the beautiful beaches, amazing history, and great weather. More baby boomers are reaching retirement age, which means they are beginning to look at places where they want to retire. Charleston was recently named "The World's Best City" by Travel + Leisure Magazine. The rankings were determined by actual readers, confirming what we already know: Charleston is an amazing place to live. Charleston is a regular on most publication lists for "Best Places to Retire," making it a great choice for retirees as well. Given the strength of the Charleston real estate market, some retirees are investing in new homes.
If you are considering moving into the Charleston area or currently live here and are in the market for a home, here are several reasons why purchasing a new home may make a lot of sense for your situation:
1) You'll Have More Room to Customize the Home as You Wish.
2) Your Home Will Be More Energy-efficient and Feature the Latest Green Technologies.
3) You Will Have Fewer Repairs to Worry About and There Will Be Less Maintenance as Well.
4) You May Have More Financing Options and Concessions Working with a New Builder than You Would with a Seller.
5) You May Qualify for a Warranty if Repair Work Is Needed Early On. This Is Usually Never the Case with a Resell.
Obviously, there are advantages to buying a pre-owned home as well, so the best thing to do is consult with your real estate agent and speak with loved ones about what you want out of a home in South Carolina. Either or, there are great new and preowned homes available right now in the Charleston, SC area. Contact us today to get started finding the Charleston home of your dreams.