Top local areas worth investing in
If you’re looking to invest in some property in the Charleston area, there are many neighborhoods and areas to consider.
Not only does Charleston’s population grow by approximately 30 people a day, it is known as being one of the top vacation destinations in not only South Carolina, but the entire nation.
Charleston is also attractive to investors because of the favorable climate, reasonable tax rates, safety, activity variety, and so much more.
According to Leasingandmanagement.com, investment properties in Charleston are also still relatively affordable compared to other popular cities in America. While real estate professionals predict that prices will continue to climb even with the rising inflation rate in 2023, there will still be plenty of investment activity throughout the Lowcountry.
Charleston is a place that many people want to live, visit and simply enjoy all that there is to offer.
So, which areas in Charleston are worth investing in? The most popular area for potential investors is typically Downtown Charleston. Aside from the constant tourist activity, Downtown has a wide range of demographics living in the area.
This makes it an attractive area for those looking to invest in homes to use as rental properties (both long and short term) and those who want to invest in commercial property. This area’s growth is continuous and won’t slow down anytime soon.
The Mount Pleasant area is a growing suburb that is up and coming; making it attractive to investors who want to get their foot in the door before it explodes in growth (more than it already has).
This area has great public schools, many commercial developments and properties, and is thought of as a midway point between popular Charleston beaches like Isle of Palms and Sullivan’s Island as well as a quick drive into Downtown.
Along with Mount Pleasant, Summerville also boasts reputable school districts, making it an attractive place to invest. Summerville is located along I-26; a convenient location for those commuting into the city or elsewhere. It’s known as more of a residential neighborhood, with a lot of up-and-coming growth and opportunities on the horizon.
If you’re looking to invest in waterfront property, James Island is a great area to look into. Many people are looking to invest in homes in this area because of the slow, quiet lifestyle and close proximity to Downtown and Folly Beach.
James Island also has a downtown area of its own. While this is mainly a residential area, the influx of renters moving to Charleston, patterns show more people are beginning to migrate to James Island. The majority of homes in the area are one-story, sturdy brick and mortar houses ranch-style homes that are generally considered to be high-quality builds.
While it may be expensive to obtain a residential investment property in the area, you will most likely not have too much maintenance to do on the home once purchasing.
Even though property rates are currently on the rise, it’s still a great time to invest in the Lowcountry and get your foot in the door of its bustling real estate market. With the constant influx of people moving to the area and recognition of Charleston as one of America’s most charming historic cities, investors will see a return on investment in no time.