Tuesday, October 14, 2014
Waterfront homes can consist of three different kinds in the Charleston SC: riverfront homes, beachfront homes, and then just generic waterfront properties, which are comprised of houses on a tidal creek, or lake. Charleston SC lake front homes don't really exist, but it depends on what you consider a lake, and unfortunately some real estate agents will label a pond a lake. About an hour outside of Charleston is Lake Marion and Lake Moultrie, two HUGE lakes where you can't see land in some instances if you in the middle.
Depending on how the listing agent inputs the property listing in our local MLS will dictate how your search will display results. For instance: if an agent lists a property for sale that's on a small pond, but labels it waterfront then you'll see that property, although to me it shouldn't be allowed as it's misleading and a grey area.
Properties labeled "waterfront", in Charleston SC in my opinion should be reserved for homes that are on either beachfront or deep water where a dock can be installed. The problem is that will thousands of listings there really isn't a way to police this. Waterfront homes in Charleston SC as you can imagine will range in price, but usually for "real" waterfront like most people want you're going to have to spend at least $450,000 for a small older property.
Condos: We have many beachfront condos in Charleston as well as waterfront condos that are on the harbor or river. You can sometimes find a condo in the area starting in the $250k's with water view on Folly Beach, maybe West Ashley or James Island, but most will be $350k minimum. Anything with beach views, ocean views, on the riverfront, or deep water that you find with prices under $100,000 will almost always be a fractional home ownership.
Thursday, October 17, 2013
Every year thousands of people visit The Isle of Palms, and to purchase Wild Dunes real estate and enjoy the lifestyle of living or owning a home in the Wild Dunes resort on The Isle of Palms in beautiful South Carolina. This gated resort featuring two stellar golf courses, sand tennis courts, elegant landscapes, beach access, swimming pools all over, Wild Dunes offers a vacation lifestyle anyone could love. From an investment standpoint having a vacation rental on the island isn't a bad choice either, and the market values usually perform very well as compared to other coastal towns. Many of the homes on the Isle of Palms rent for $5000+ a week. Yes, I said a week, for the oceanfront homes. The villas on Isle of Palms still get a hefty penny even for smaller one or two bedroom condos. If you are a regular vacationer to the island it would be a better investment to just buy your own, make some money throughout most of the year renting it, and then enjoy it as much as you want, when you choose. Building memories with your family, Who can put a price on that? Prices range from about $250,000 for a very small one bedroom condo to well over $3 Million for oceanfront homes on the Isle of Palms and Wild Dunes. Don't get confused because you may see some homes for sale here that as low as $30-40k, those are for shares or fractional ownership where you only get one or two weeks of usage. It's not a time share per-say, but you do share time.
There are 18 little "off-shoot" pockets within the Wild Dunes gates and resort and included in that are 12 Condo/Villa buildings all with their own differences. You must be aware of what it takes to buy in a gated resort. Unlike purchasing a home in a "normal" area owning in a resort comes with some extra costs you might not be used to. First, there is usually a transfer fee of either half of 1% or full 1% of the purchase price. Which goes in the the HOA of the building or regime of the community.
Search By Neighborhoods in Wild Dunes:
This helps pay to keep up the area (in addition to your monthly regime payments), and HOA dues. Which ALSO go to help keep up the maintenance of the building (if SFA), grounds, amenities, insurance, clean up, etc. The HOA monthly payments usually range from $350 month to well over $1000 depending on the building and area. Regime dues can be monthly, quarterly or yearly and vary greatly. The good news is that these payments also cover your insurances on your unit for the wind coverage, flood, and hazard (especially when pertaining to condo/villa). Not SFD. These fees do not give you free golf in the resort, however most times ownership in a resort does get you some privileges and discounts for use of golf, and tennis amenities.