The Lowcountry is home to some of the most picturesque real estate in the country, boasting beautiful waterfront homes with classic Charleston style. As a region known for spectacular year-round living, it’s no wonder more and more people move to this slice of paradise every year.
While purchasing luxury property in the Lowcountry is on many people’s bucket lists, it shouldn’t be rushed. There are many critical aspects to consider before buying a home on the South Carolina coast. Read on to learn about the six things you should consider before purchasing luxury property in the Lowcountry.
1. Grow Your Knowledge of the Lowcountry Luxury Market
Due to the Lowcountry’s popularity growth, the market can often be competitive and dynamic. Whether you’re looking for a classic downtown Charleston home, or a spacious waterfront oasis on Kiawah Island, homes generally start at around $1 million and can climb up to about $20 million. So, knowing your price range, and the different areas that may accommodate your budget, is essential to any property search here.
However, one significant benefit of the luxury Lowcountry real estate market is that although it can be competitive, you will receive tremendous value with your purchase. Homes here provide space and access to bountiful nature and are always close to great dining and entertainment options.
While it is recommended to do initial research yourself, you will eventually reach a point where expert advice is needed. If you find that Kiawah Island interests you, our experienced real estate sales team, focused solely on Kiawah Island real estate, will help guide you through the local market, allowing you to make the most informed decision possible regarding your luxury purchase. Reach out to our team below!
2. Find a Location that Fits Your Lifestyle
While all of the Lowcountry is beautiful and offers a thriving lifestyle, there are certainly different parts of the region that better suit specific tastes. For example, if buyers want to be next to the action on King Street, a classic downtown Charleston home may be best. On the other hand, if buyers want more space and proximity to nature, a property on Kiawah Island might be best.
In general, it’s important to map out your priorities before speaking to a real estate professional. By explaining your wants and needs in terms of proximity to water, accessibility to dining options, and other lifestyle aspects, a real estate agent can use their knowledge to determine which region of the Lowcountry is best for you.
Related: Five Hidden Gem Locations on the South Carolina Coast
3. Schedule Private Showings
The properties in the Lowcountry show their true beauty when you see them in person. Once you have a few general areas in mind, schedule tours with properties that pique your interest. Regardless of the time of year, each season offers something beautiful to homeowners in the area.
Touring luxury properties requires a keen eye, so check for quality of construction, architectural details, and any custom features on your list of necessities. On Kiawah Island, homes are constructed with the highest quality of materials and great attention to detail. Our new developer releases are a perfect example of the quality of residences found on the Island. Check them out below!
Check out our New Developer Releases.
4. Secure Financing Options Early
When buying luxury property, specialized financing is often necessary—especially in a competitive market. If not planning to purchase in cash, getting pre-approved for a jumbo loan is critical for higher-priced properties. We recommend working with lenders experienced in larger loans to ensure you experience the most efficient process possible.
It’s also important to keep in mind that the financial documentation for these types of loans can be extensive, so starting the process early is best. Consult your financial advisor to better understand the tax implications and investment benefits of buying luxury properties.
5. Conduct Due Diligence
Luxury homes, especially in the Lowcountry, will often come with unique considerations, such as historic preservation rules, flood zones, and HOA restrictions. Ensure your agent walks you through these factors to avoid any surprises when closing on a home.
It’s generally recommended to hire qualified inspectors to assess the property’s condition in areas such as structural integrity and plumbing. While it varies for each residence, inspectors help avoid any unwelcome surprises later for homebuyers. Mitigating these risks prior to purchasing a luxury home ensures the most positive outcome.
6. Consider Long-Term Goals
Determining your vision for the property you are purchasing is an essential consideration in the luxury market. Will this be a second home? Do you plan to sell it in the future once you’ve increased the value?
Possibly, you are planning ahead for retirement. In this scenario, you would want to go after a property with a more peaceful location and convenient amenities. Whatever your vision may be, it’s important to have a solid plan laid out before purchasing a luxury property. Understandably, priorities may change during ownership, but making those adjustments later based on lifestyle needs is easier done when there is an original plan to pivot from.
Find Your Luxury Lowcountry Home on Kiawah Island
Whatever you’re looking for in a Lowcountry home, Kiawah Island truly has something for everyone. From views of the beach, Kiawah River, marshes, maritime forests, and pristine golf courses, the beauty and opportunities are endless.
As experts on luxury real estate on Kiawah Island, we have helped more than 10,000 families call Kiawah home. If you’re interested in what the Island has to offer, view our available properties below.
Via KiawahIsland.com
