Life in the #1 ranked city in the US (Conde Nast), Charleston, SC is grand! Those of us who have the privilege of living here know what a good investment real estate is in this area. But if you aren't a local, have you ever considered owning an investment property? How about looking toward expanding and diversifying to another area? How about the South Carolina coast!
As a resident of Charleston, I see that real estate in this market is a tremendous investment opportunity. If you are looking to diversify your investment portfolio, consider this: The real estate market in Charleston, SC is a healthy, thriving market that is solid and exciting!
Why invest in real estate, and more specifically, why in Charleston, SC? Simply put, real estate is easily understood, housing is a basic human necessity, it can generate income and it is a powerful way to build wealth. As the Charleston-area continues to grow economically, in addition to the medical and tourism industry, we can thank currently expanding companies such as Boeing, Volvo, the colleges and universities (College of Charleston, The Citadel, the Medical University of South Carolina, Trident Technical College, the Art Institute of Charleston, Southern Wesleyan University, etc.) in the area for the rising need for housing. If you have ever considered a second home or an investment property for rental income, now is the time!
In 2014, housing prices increased by 8.8% in Charleston. Prices in 2015 have increase 5% since January. Economic predictions show steady growth for at least the next 10 years: Earlier predictions showed that in the next 2 years, 11,000 new jobs will be added to the greater Charleston area and in the next 5 years, an estimated 25,000 new jobs will be added. However, with the recent decision by Volvo to build its first North American plant here, these figures will be even greater, as we will be seeing an
additional 2,000 jobs added to those figures in the next ten years. Predictions are estimating over 250,000 people will be moving to the area in the next 10 years. These numbers obviously indicate a high demand for housing. Those moving and/or visiting the area may be looking for permanent housing to purchase, temporary (long or short-term, furnished or unfurnished) housing to rent, temporary student housing, military housing (Charleston Air Force Base, Coast Guard and Naval Weapons Station), vacation rentals or second homes. The need for readily available rental properties, both in single-family homes as well as multi-family units such as condos, townhouses and apartments, is on the rise. From an investor’s point-of- view, we know this: High Demand + Low Inventory = Higher Price Points.
Not all properties make sound investments and/or bring quick cash flow, so it is important to have the right person working for you to find the most ideal properties to help you to fully diversify and build wealth through real estate. In addition to local investors, I have represented out-of-state clients, many purchasing properties “sight-unseen”, with complete satisfaction.
In helping find ideal investment properties, I look for those that are not only a good value, but those with favorable location, size and amenities. I work to keep baselines low and return on investment high. Working together, my clients have the benefit of my knowledge, experience and expertise in locating, evaluating, coordinating and negotiating in the buying, selling and/or leasing of the properties.
If you have interest in diversifying your wealth portfolio by investing in a thriving real estate market, let’s talk! Life in the Lowcountry----so much to see and experience! Call me at 478-973-2684 or email me at: Janie.pugh@carolinaone.com , and let's get to work!
My mission statement: To live each day to the fullest, with excitement, enthusiasm and a strong desire to build a successful and highly respected real estate business, earned by developing relationships through consistent and predictably high work ethic of always going above and beyond, and always doing so with a creative surprise up my sleeve.
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