How does Charleston compare to living in....... (2014, lender)
Charleston areaCharleston - North Charleston - Mt. Pleasant - Summerville - Goose Creek
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Easy to fall in love with these towns in September, not easy to live with the prices all year long, and the isolation in the winter. It's run its course.
Sounds like you've had great road trips. We've been to a lot of the same places. I've been in a coastal seasonal town the last 15 years, we have crazy summers and long quiet winters, so year round normal action sounds better to me. Budget is a major concern (only 1 of us is semi retired) so Mount Pleasant is better for us. We are looking at the real estate, hoping to move sometime next year.
Do you have any idea of the cost of home owners insurance? I don't want any surprises.
I asked my mortgage agent that question last week. She said it varies so much that your neighbor could be paying thousands more than you just because of the variance in elevation and how the house was built. Generally inland, not on the water, not in a flood zone, it will be 500-1200 a year for flood insurance. Near the water or rivers it can run you 2000-10000. IOP or Sullivan's, 20000-50000.
So yeah, living by the water is nice, but there certainly is a premium.
If my numbers are off, I'm just trying to remember the intervals she mentioned. I definitely remember that 50k one though.
September here can't be beat, but the summers are crazy, and the winters are long and isolating. It's too expensive for the year round people. I am happy my son grew up surfing and climbing trees, but there's very few industries here, so the kids leave. Then it gets too quiet, and definitely too expensive.
Rory, isn't there also wind & hail insurance on top of the flood insurance?
So are there 3 pieces to the insurance? - regular homeowners (in case your house burns Dow ), flood insurance & wind. & hail insurance?
It depends on the insurance company. Some lump it all together. Some separate just hurricane, some wind and hail and hurricane are separate, sometimes everything is separate. SC seems to be a field day for insurance. Not that you will get ripped off, but that anything goes.
Keep in mind, the deductible. Insurance companies seem to have it so that you're basically not entitled to a free roof every time a hurricane arrives.
So you have to pay for flood insurance if you're not in a flood zone?
I appreciate you sharing your info.
No, not if you're in a flood zone. Sorry for any misleading comments. Sometimes when you're in a flood zone it will vary per location. But when outside of it, it's not required.
Honestly I don't know. There are like 25 flood maps for Mount Pleasant and I've only seen like 6 of them.
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