Those out there that consistently make good money in real estate know the market. That’s why you see a lot of us Realtors purchasing real estate…simply because it’s what we do, every single day. We know the market. But you can also do most of this work as well. Almost everyone out there right now has access to the same information in the Charleston MLS as real estate agents do. Whether you’re looking on Google, Trulia, or my own Charleston MLS Search website, you have basically the same information that we do. Knowing the market before a good deal comes along is critical. Study it, live it, breathe it…so that you know a great deal when you see one.
Look for changing market conditions. For example, look for new developments that are coming up. Anything that might change the infrastructure of an area, or increase the surrounding home values. New roads and new schools being built is a good sign that a community is in for a growth spurt. Buying in this type of area might be very profitable, and should increase your quality of life at the same time. It should be rather easy to spot new developments going up- right from your car window. Look for land clearing, surveying, or the beginning of construction. If you are not from Charleston, get your Realtor to point these things out for you. We are also aware of a lot of the new developments going up.
Check school rankings. Each school area around Charleston tests its students on math and English, and makes these results available to the public. A smart home buyer looks for schools that are at the top of the list. Summerville real estate and Mount Pleasant real estate are examples of areas that parents are very much interested in. Thus, these areas tend to do very well when selling, later on. Quality of education is very important!
Watch the outer areas. A lot of times, the inner parts of the town or city become a little over-priced. This sets up well for a purchase along the outskirts of these areas. As the inner areas become more expensive and congested, the outer areas look to be the more affordable choice. Learn to spot these areas and look for trends.
Like Ben Franklin said, “If I had six hours to chop down a tree, I'd spend the first four sharpening the axe”. When purchasing real estate in Charleston, do your homework!
Mike Ciucci specializes in the Charleston SC real estate market. He has been a Charleston realtor for over 15 years, focusing on quality and attention to detail his clients have come to expect.