Charleston - A good place to live or visit (Columbia: real estate market, insurance)
Charleston areaCharleston - North Charleston - Mt. Pleasant - Summerville - Goose Creek
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I've been to SC in the past but have never been to Charleston. I've heard a lot of good things about the city and nothing bad.
Is it a good place to live or is it just a good place to visit? Is it an affordable place to retire? It's next to the ocean so are several insurances required to buy like flood insurance? For instance, in Galveston, Tx that I have also checked out, the housing is fairly affordable but by the time one buys 5 different insurances, it puts the average person in the poor house.
If you live near the beach, chances are you'll have to buy wind and flood insurance. The Charleston area extends inland, so many neighborhoods don't require any additional insurance.
The might sound like obvious advice, but you probably should visit Charleston. I'd recommend the summer months because those are the best and worst of times here. On one hand, the beaches are great and there are festivals aplenty. On the other, it's torrid, the mosquitoes are swarming, and the roads are packed with traffic.
As far as housing prices, I read that Charleston is one of the top 10 most overvalued real estate markets in America. Housing isn't cheap here.
The quality of the beaches themselves are much nicer than Galveston. Housing prices are much higher as well, but property taxes are much lower than Galveston's.
The heat is pretty bad for 3 months out of the year as it is in most of the South. Winter is decent with no snow and few days that hit freezing. Spring and fall are perfect.
Housing here is considered over valued because it doesn't match up with local wages. The reason for that is there are so many people who either retire here or have second homes here from somewhere else so it throws off the statistics. The good news is if you're not on the beach itself, pretty much everyplace is close to some kind of body of water.
If you're living in a condo, your insurances will most likely be covered in the condo association fee (usually called "regime fee in SC). You would need to confirm that for any condo you consider purchasing but that's the most common scenario. You would just be responsible for an HO-6 policy which would cover your condo for everything in the interior. HO-6 policies are generally pretty reasonable but the regime fees can vary quite a bit from condo to condo. That would all just be something you would have to look at as part of your due diligence when looking to purchase.
With a townhouse that doesn't have a regime providing insurances and maintenance, you would cover those costs and they can be high... or not, depending on a lot of factors including the age of the building and whether the property is in a flood zone. Anything on the beach is going to be in a flood zone but if the structure is built high enough off the ground, the flood insurance might still not be very expensive. It has to be taken on a case by case basis.
Property taxes on your primary residence are generally not high in Charleston county and if you're 65 or older, you would qualify for the homestead exemption which exempts the first $50,000 of your homes value from property taxes.
Ziggy100 is right, the affordability of Charleston is all relative to your income and to what housing prices are like where ever you're comparing it to. Folks coming here from San Diego find it hard to believe that things are so cheap, while someone coming from Buffalo will think it's expensive here.
Traffic is similar... it depends on where you're comparing it to. If you're retired and don't need to be driving somewhere during rush hours, it isn't bad.
Most people find the summer heat/humidity pretty oppressive here but I doubt it would be any worse than Galveston. The biting bugs can be pretty bad but not intolerable. You will find yourself using bug spray at times especially if you spend a lot of time outdoors other than the beach.
As Chas4Life said, visit if you can. There's a good reason Charleston is both a top vacation destination and a top choice in relocations. We have a lot going for us here though it isn't the right fit for everyone.
We have been leaning toward the Ozarks to retire but we'd like to be by the coast too. We're just trying to keep an open mind. We've decided a while back that Galveston is out.
We are in our late 50's, just looking for a nice place to retire. We are far from being wealthy as we live on fixed incomes from the military.
It doesn't have to be in Charleston. In fact, we'd like to be no more than 15 to 20 minutes from Charleston for all the amenities but live in a quieter place and still close to the water.
We are coming to either NC or SC for a family reunion in June. My brother hasn't picked a beach yet but at least we'll be close enough to check in out.
I love the Ozarks! If you want beautiful mountains but a closer trip to the coast, Asheville and surrounding areas might be a good choice or the Greenville SC area has some beautiful terrain too.
For Charleston to be close to the beach and close to downtown, you might look at James Island too. A bit more affordable than Mt Pleasant and condos/townhouses do come up from time to time that are pretty affordable especially if you can handle a fixer-upper.
I love the Ozarks! If you want beautiful mountains but a closer trip to the coast, Asheville and surrounding areas might be a good choice or the Greenville SC area has some beautiful terrain too.
For Charleston to be close to the beach and close to downtown, you might look at James Island too. A bit more affordable than Mt Pleasant and condos/townhouses do come up from time to time that are pretty affordable especially if you can handle a fixer-upper.
Charleston is a very expensive place to live now. Coming from New Mexico you will be shocked. Many new firms have moved here, like Boeing for one, and have driven the cost of housing through the roof. It is much cheaper in the Columbia area, which is about 2 hours from Charleston. If you really want the beach, I suggest FL.
Charleston is a very expensive place to live now. Coming from New Mexico you will be shocked. Many new firms have moved here, like Boeing for one, and have driven the cost of housing through the roof. It is much cheaper in the Columbia area, which is about 2 hours from Charleston. If you really want the beach, I suggest FL.
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