For years, my wife and I visited the Isle of Palms annually for vacations. We dreamed of owning a second home here and even living here full time some day. Each year we visited the Island and even made “half-hearted” offers to buy a condo or house. Maybe we weren’t ready or more likely, we were trying to pay way below market and “steal” a deal. The problem was that each year we waited to get serious, it cost us about 10 percent or more as the market increased. Well, we did finally buy that place and even live here full time now. Our home has appreciated dramatically and we have even bought another residence and rent the first one. It pulls in some nice rental revenue!
When we bought, there were very few choices of homes, they were actually scarce, and we paid a premium.
Today, there are more choices in every price range and even some homes that are being sold at “deep” discounts because some folks stretched a little too far to buy. These opportunities offer some immediate returns on your money, but if you find the perfect spot for sale, odds are that you’ll be able to negotiate a great price too!
I invite you to join my family here on the Charleston Coast. It’s a great lifestyle whether you by a vacation home or move here for a lifetime. You’ll be GLAD you did.
-Mark Mitchell