Colorful Landscape Staples that Keep Charleston Beautiful

Spring has sprung in Charleston, as evinced by all the beautiful blooms sprouting in area gardens and parks. When planning your own landscape design, be sure to include plants that are well-adapted to the area. They not only blend well aesthetically with other local flora, but more importantly, thrive in the environment.

The South Carolina Lowcountry is conducive to many plant types, from massive Live Oak trees adorned with Spanish moss that add a canopy of shade, to Southern Pines, to a number of spectacular ornamentals and unique grasses. Here are a few excellent choices for plants that not only do well in the Charleston-area climate, but also add beauty to your home.

 

CAMELLIA

These moderately tall shrubs boast colorful flowers that bloom in the winter. One of the most appealing attributes of the camellia family is that they are evergreen. In the Lowcountry climate, the leaf portion of stays green year-round.

While there are more than 3000 individual varieties across the US South, the Japanese Camellia (Camellia japonica) is most popular around Charleston. It was brought to the New World late in the 18th century by French botanist Andre Michaux and earned the name the “Rose of Winter.”

The camellia proves hardy in hot Lowcountry summers, and supplies a vibrant show of color through the winter months. You’ll see versions in hot pink, to pale pink, to white, and combinations of those colors. Many of the shades are the perfect landscape compliment to the primary colors of azaleas. Camellias also come in varieties that produce double flowers.

If you would like to see thousands of camellias in bloom, be sure to attend one of Middleton Place’s camellia walks. These free guided tours take place in early February each year, when the flowers are at their most spectacular. You’ll even visit the 1786 Reine des Fleurs, one of the first camellias planted in America.

Did you know that tea leaves come from a camellia? The Camellia sinensis also grows well in the Lowcountry. You can even tour America’s only tea producer, the Charleston Tea Plantation on Wadmalaw Island. Here, you’ll see fields of the plants growing – and if you come at the right time, even being harvested. While there, be sure to sample some American Classic Tea.

 

AZALEA

The azalea has provided the most popular spring color display in South Carolina for centuries. Each spring, thousands of avid fans across the south flock to Summerville’s Flowertown Festival to see the blossoms at their peak.

While some cultivators across Charleston are indigenous, others were imported from the Orient. The azalea finds an ideal home in the shade under native Live Oak trees. The pH soil levels in the Lowcountry are also next to perfect for growing massive clusters of azaleas.

The shallow root systems of nearly all azalea varieties are excellent for providing quick moisture from minimal rainfall. In isolated landscape planters, some irrigation can be helpful during long dry spells. They rarely need pruning, except in situations where shaping or containment are desired.

 

CREPE MYRTLE

The crepe myrtle is a flowering shrub that can also grow to heights classified as a tree. Like the camellia and azalea, Lagerstroemia indica has a number of cultivators, many brought to the US from parts of Asia.

The name is indicative of the crepe paper-like bark that covers the tree’s trunk. As a crepe myrtle grows more mature, the light and dark spots on the trunk become an important part of its visual appeal. The pink, purple, or white flowers are equally as breathtaking.

Frequently, crepe myrtles are cut back in the late fall and allowed to winter over with virtually no top portion. During the next spring, shoots of limbs multiply. As the smaller crepe myrtles grows into trees, they provide a color spectacle that can last the better part of the Lowcountry summer.

 

DOGWOOD

Another species of flowering landscape foliage prevalent in the Lowcountry is the dogwood tree. Many native species grow wild in surrounding wooded areas. The two most common colors of its flowers are pink and white. Old dogwood trees often have an under layer of azaleas augmenting their spring display. The dogwood’s flowering is a signal of spring.

While not quite as visible as the bark of the crepe myrtle, the dogwood also has a unique texture to its trunk. As the trees mature, definitive bark grain begins to help foretell the years the tree has been alive.

Many historic homes in and around Charleston are as known for their fantastic gardens as they are for the actual house. Next time you are strolling through downtown Charleston, be sure to notice these popular landscape trees. Together with annual and perennial flowers, they keep Charleston blooming in vibrant color.

 

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Have Your Best Valentine’s Day in Charleston

Valentine’s Day is just around the corner. Now is the opportunity to pamper your loved ones – and yourself – with some of the best that Charleston has to offer. Here are our real estate agents’ recommendations for the most romantic spots to celebrate your Valentine’s Day in Charleston. Just click on each name to be linked to the individual businesses’ websites for more information.

 

MOST ROMANTIC RESTAURANTS IN CHARLESTON

  • Fulton Five – Consistently rated the Most Romantic Restaurant in Charleston, this cozy Northern Italian eatery located down an alleyway off of King Street earns its marks.
  • R. Kitchen – Chef Ross Webb creates a new four-course menu every night for the 16 lucky guests who sit at the counter in his kitchen in Cannonborough-Elliotborough.
  • Middleton Place Restaurant – Once the daytime crowds have left, enjoy strolling the moonlit pathways of Middleton Place gardens before or after your traditional Southern meal at the restaurant. Don’t miss the Huguenot Torte for dessert! To top your evening off, book a romantic room in the Middleton Inn where you can enjoy champagne and chocolates in a soaking tub or beside the wood-burning fireplace.
  • Zero Restaurant + Bar – Located in a boutique hotel in Ansonborough, this small fine dining spot is the reason why Zero George was named one of Conde Nast’s Top 5 Foodie Hotels in the World.
  • Circa 1886 – Tucked in the former carriage house of the Wentworth Mansion, enjoy the seasonal menu or splurge on the 5-course tasting menu. After dinner, be sure to tour the Wentworth Mansion. If you are lucky, catch a glimpse of the city at twilight from atop their cupola.

 

BEST CHOCOLATES:

Charleston Valentine's Day chocolates & flowers

  • Christophe – Treat yourself to handmade traditional chocolates as well as delicious pastries from French Artisan Chocolatier-Pâtissier Christophe Paume.
  • Market Street Sweets – If chocolate alone isn’t your thing, indulge your sweet tooth with warm pecan pralines and fresh Bear Claws. Originally from River Street in Savannah, this shop also has locations on the Market and King Street. I dare you to walk by the smells wafting out of these shops without stopping for at least a sample!

 

BEST FLORIST:

  • Lotus Flower – Since 2000, the owners have been making some of the most creative arrangements in Charleston.
  • Tiger Lily Florist – The converted service station on Spring Street has become one of downtown Charleston’s premier flower shops, plus they deliver throughout the area.
  • Charleston Flower Market – This long-time shop on Maybank Highway on James Island advertises “uniquely creative” cut flowers and arrangements.

 

BEST SPA:

  • The Spa at Charleston Place – This European-style retreat is located in the Charleston Place Hotel in downtown Charleston. Guests have access to a rooftop pool with retractable glass ceiling. After your appointment, enjoy a poolside lunch. Or have a mommy and me day, treating your daughter to a “Lollipop Manicure.”
  • Earthling Day Spa – Another stalwart of the downtown spa scene, Earthling also houses a Pilates studio.
  • Woodhouse Day Spa – This luxurious spa across the Ravenel Bridge in Mt. Pleasant receives rave reviews. They have also recently opened a second area location in the new WestEdge development on the peninsula.

Remember when two people love each other, anything can be romantic! And if you’re single this Valentine’s Day, why not pamper yourself?

How will you spend your Valentine’s Day in Charleston? What are your suggestions for the most romantic spots? Let us know in the comments.

 

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4 Things to Look for in a Senior-Friendly Home

While not every senior is in the market for a new home, you may find that it’s one of the best options for aging in place. Whether you currently own a home or are renting, there are ways to ensure your comfort and stability well into your golden years. Here’s what to look for in a senior-friendly home—whether it’s a purchase or renovation.

 

ENOUGH SPACE (BUT NOT TOO MUCH)

When contemplating a home purchase, your primary concern should be space. You want enough living space to be comfortable, but not so much that you spend all your time cleaning or going up and down the stairs. This means, by default, your ideal home will likely have less square footage than where you’re currently living. Because many older adults have mobility challenges, a single-level home may be your best option.

Senior Couple Living in Charleston, SCWhen preparing to move to a smaller home, downsizing your belongings might be next on the list. Downsizing can help eliminate your home’s need for upkeep and reduce your expenses each month. But if you have items that you’re not sure you want to part with, the process can be tough.

Short-term storage offers a convenient way to clear out your home without giving up prized possessions. You can rent a storage unit while considering what to do with those belongings. It’s easy to find affordable temporary storage units in Charleston. While the cost varies by size, the average price per month is only $91.

 

ACCESSIBLE FEATURES FOR AGING IN PLACE

Part of your retirement plan likely involves living at home for as long as possible—or even forever. Therefore, looking for accessible features is crucial when buying or renovating a home. Unfortunately, more than 95% of homes lack accessible features, which means you’ll either need to buy an adapted home or make changes on your own.

Features like low countertops for seated access when using a wheelchair, wide doorways to accommodate mobility issues, and grab bars in the bathroom may be crucial for the safety and enjoyment of your home. But also consider less noticeable elements, such as ground-level entry and doorknobs that don’t require significant grip strength.

In many newer homes, universal design elements are friendly to people of all abilities—not just seniors. Pulls instead of knobs on drawers, under-the-counter appliances, and varied-height countertops are a few highlights. A newer construction property may check all the boxes for your home accessibility needs.

 

PROXIMITY TO COMMUNITY

Whether you’re moving across town or the country, finding a community is vital for older adults. Especially if you’re single or widowed, being near friends and family can help keep you connected.

Senior Couple Living in Charleston, SC

Research has shown that seniors with strong friendships and community ties are healthier than those who spend more time alone. Conversely, seniors who experience social isolation and loneliness may develop or worsen health issues. Happily, Charleston and its suburbs have numerous public activities and volunteer opportunities to keep retirees busy.

Think about what features you want in your community—such as a senior center, fitness facility, parks, or shops, and then center your home search in areas that suit. Fortunately, Charleston has recently been named the #6 city in the US for longevity. Our walkability, gyms, sports opportunities, dog ownership, and healthy food options all help you live a longer, healthier life.

 

THE RIGHT LOAN TERMS FOR SENIOR HOMES

Wherever—and however—you decide to move, buying a home can be a stressful experience. But the rewards are greater than the drawbacks for many seniors. Owning a home provides security and comfort that renting or even senior community living simply can’t—making it an excellent choice for many older adults.

If you are considering a home purchase, think about using a VA loan. For example, PennyMac VA Loans are an excellent benefit for senior veterans. These loans require little to no down payment, they don’t charge private mortgage insurance (PMI), and the rates are often superior to those of conventional loan options.

Other loan types—including down payment assistance programs and special purchase credits—are also available for seniors. And in some cases, a first-time homebuyer program may be appropriate. Speak to a knowledgeable real estate agent to determine the best choice for your financial situation.

 

Disher, Hamrick & Myers offers a variety of senior-friendly housing options. In-city condos (such as those at Dockside Condominiums) are perfect for those looking to achieve a more maintenance-free lifestyle, yet remain close to everything downtown Charleston has to offer. Many of our listings also include accessibility features, one-story floor plans, or elevators to help you age in place. No matter what type of retirement living is right for you, our team of local real estate agents will help you find the perfect place to call home in your retirement years!

 

Author Jim Vogel is founder of elderaction.org.

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Advice for Downsizing Seniors to Help Decide the Fate of Their Home

Are you or someone you know looking at downsizing your home? At times, moving can seem more like an onslaught of decisions than an exciting transition. Even after you’ve decided on a new home, you’re still left with the fate of the old property. You could sell it to boost your savings, rent it out to earn a monthly income, or hand it over to a family member for safe keeping.

While each option comes with positives and negatives, the best choice will depend on your unique situation. Let’s dive into some of the details of each scenario to give you a better perspective on what’s best.

 

SELL IT TO BOOST YOUR SAVINGS

The natural process of moving usually sees the owner of the home sell their previous house and put the earnings towards the purchase of their next home. This tried-and-true option usually yields the smoothest transition. Downsizing seniors are particularly fond of this choice. If the current home is paid for, they often don’t have to worry about taking out a loan or managing another mortgage. They can simply sell their old house to pay for their new one.

Before placing your home on the market, it’s important to scan local listings for some information. You need to note the average cost that homes are selling for, and think about what your own home might be worth. For example, Redfin notes the average home in Charleston is selling for around $350,000. Make some comparisons, and if the price is something you’re comfortable with, you can move onto the next step of hiring a real estate agent and preparing your home to sell.

 

Downsizing Seniors in Charleston, SCRENT IT OUT TO EARN MONTHLY INCOME

It’s no secret that living on a fixed income can be challenging. When you’re in this position, renting out your old home can be a great way to enjoy some passive income. Just be sure the rent you charge is sufficient to cover the expenses of ongoing homeownership – such as property taxes, upkeep, and utilities – and still enough to pad your nest egg.

Don’t forget that having a rental property is an investment and a business. You have to front costs for updates and renovations to make the home more appealing to potential tenants. You also have to be proactive about finding reliable renters with clean records and little-to-no debt. If you’re interested in the income but don’t want the hassle of managing the property, you can hire a professional property manager to handle all of the details.

 

TRANSFER IT TO A FAMILY MEMBER

For some seniors, no amount of money or monthly income can convince them to let go of their beloved home. Too many good memories and meaningful experiences are tied up in the house to simply give it away. If this is how you feel about your old home, you don’t have to sell it or rent it when downsizing. Instead, you may wish to hand it over to a family member for safe-keeping.

Bear in mind, transferring a large asset like a house can have some complex tax ramifications. It’s best to discuss this option with an elder law attorney before jumping in.

On the upside, having someone living in the house ensures it will be maintained. Also, an empty property is more likely to fall victim to theft or vandalism, so you avoid those concerns as well. What’s more, if it’s left empty for long, insurers may void your policy.

It’s not easy to decide the fate of an old home when your circumstances require a downsizing. To help make the decision easier, take note of all your potential options and weigh the pros and cons of each. Once you sort your options, you’re sure to find the best choice for your circumstances.

 

Author Jim Vogel is founder of elderaction.org.

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Spoleto Festival Insider Tips & Tricks

The 43rd annual Spoleto Festival USA runs from May 24-June 9 this year. Charleston residents and visitors alike will have the opportunity to enjoy world-class theatrical and musical performances. Want to know how to enjoy the festival like a local? Whether this will be your first Spoleto or you are a regular, here are some insider tips and tricks to make the most out of your visit to the festival.

 

SPOLETO ON A BUDGET

  • Piccolo Spoleto posterTickets are less expensive for weekday performances than for those on the weekends.
  • Some city garages offer free parking during the performances.
  • Select events offer senior, military, student and group discounts.
  • Piccolo Spoleto is a complementary festival with regional rather than international artists. Many Piccolo events are free or have a minimal charge.
  • Free events include afternoon concerts at the Festival of Churches and Synagogues, Family Day at Marion Square, the opening weekend concert at the Customs House and the Festival Finale at Hampton Park.

DINING CONSIDERATIONS

  • Restaurants and bars tend to be full before and after performances. Take this into consideration when scheduling your meals out and plan accordingly.
  • Allow more time than you think you need if dining before a show.
  • If you’re not attending a performance, choose to dine during those hours. Reservations are much easier to get at those times.

DOWNTOWN PARKING

  • Parking is always difficult. Be prepared to drive around to find a spot and then walk a good distance to the venue. The earlier you arrive, the better chance to find a good parking spot.
  • On-street parking meters are free after 10:00pm and on Sundays.
  • Neighborhood parking is usually limited to an hour or two. If you park in a residential area, you will be ticketed if you stay longer.
  • Some garages offer flat rates for the evening.
  • If possible, leave the car at home and walk or Uber.

Spoleto posterSPOLETO VENUES

  • Indoor venues tend to be very cold, so despite the usual Charleston heat and humidity outside, be sure to bring a wrap or a jacket with you.
  • You can purchase last-minute tickets at the venue an hour before the show. They are not discounted, but are often available, especially for shows at larger venues such as the College of Charleston Cistern and the Gaillard Center.
  • Go to the festival office at the Gaillard Center to get information and brochures on Spoleto and Piccolo Spoleto. They will provide all the information on times, dates, length of productions, maps, etc.

 

And if you enjoy your trip to Charleston so much you’d like to move here permanently or invest in a vacation home, Disher, Hamrick & Myers can help you find the perfect place! Call us at 843.577.4115 to start your Charleston home search.

 

Do you have any additional insider tips for Spoleto? If so, please add them in the comments.

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Housing Your College Student in Charleston

If your daughter or son is attending one of the many colleges in Charleston, SC, you have several housing options. While many students will choose to live in a dormitory or rent an apartment, you should also consider buying a home near campus. Owning a rental home can be a worthwhile financial investment, as well as an educational experience for your child. Purchasing the property your student lives in while attending school offers many benefits:

  • Stability. Your student will be in the same location during their college years. There will not be a need for yearly apartment hunting.
  • Storage. Furniture and other belongings can remain in the home while you own it, saving both time and money.
  • Fixed expenses. Generally, rent in Charleston increases every year. The average rent for an apartment in the downtown area is over $2300 per month. By buying your property with a fixed rate mortgage, the housing expense will be fixed for the duration of ownership. Keep in mind, you will also avoid paying security deposits and moving utility services.
  • Responsibility. Your child receives a lesson in real estate investing as well as the responsibility that comes with owning property.
  • Financial benefits. Your financial gains include possible appreciation in value, equity build up and the opportunity to charge rent to housemates.

Of course, there are some things to watch out for when considering buying a home for your student. College students are generally on the move, so staying in one location for four or five years could present a challenge. If you rent rooms in the home, you become landlords and your student may have to deal with irresponsible housemates. General maintenance costs are also something to remember when purchasing an investment property. Be sure to factor additional expenses into your formula.

 

FINANCING OPTIONS

When it comes to the actual purchase of your investment property, there are many options available for the title and financing. Some parents include the student’s name on the title for owner-occupied tax benefits, while some opt to buy strictly as a rental property. There are several ways to hold the title, so speak with your attorney and tax advisor to determine the best route for you.

When you have decided to move forward with a purchase, your lending institution should offer several strategies. If your student will be named on the title of the property, using a FHA “kiddie condo” loan is a good option. This program allows your student to qualify for the loan as a co-borrower with a blood relative. There is a maximum loan amount, so check here for limits in the location of interest. Another option is to use a non-owner occupied loan with conventional financing. Interest-only loans are also available that may have a lower monthly payment.

Should you wish to rent extra rooms to supplement the mortgage payment and share expenses, have each housemate sign a written agreement. Standard rental agreements can be obtained through your real estate agent or lawyer. The rental document needs to address the term of the lease, rate and due date for payments, security deposit, parking, pets, utility payments, maximum occupancy and notice to vacate.

college student graduationWhen your student graduates or is moving on, you have several options. You can keep the property as an investment rental. If you have another child who attends the same school, you can make a similar arrangement with him or her. You can also exchange the home for another investment property in another location in a 1031 exchange. Or you can always sell the property and realize any profits from increased value.

Disher, Hamrick & Myers has homes for sale near the College of Charleston and MUSC that would make ideal student residences or investment properties. Buying a house for your college student has many advantages. To learn more and decide if this is the right strategy for your family, call Katherine Falls at 843.478.0495 today.

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Tax Tips for Homeowners in Charleston

It’s that time of year again, but don’t wait for tax time to save money. You can do it year round by keeping in mind your qualified deductions. One of the best tax tips to save money is with good organization and planning. Keep records and notes on what you can write off so you are prepared to file at the end of the year. Here are some tax tips homeowners and residents of Charleston, SC should keep in mind this year:

DISASTER RELIEF

hurricane tax tipsIt was a stormy year for the Charleston area. Flooding and damage from Hurricane Matthew affected lot of homeowners. Did you know that homeowner losses that are not covered by insurance can be deducted on your taxes? If you went through a natural disaster and suffered a loss on your home that led to receiving federal aid, then you may be able to deduct costs that were not covered under your insurance. Likewise, if you experienced a wildfire, flood, hurricane, tornado or anything similar that created major property loss, you’ll want to consider ALL write-off options with a tax professional.

 

MOVED TO CHARLESTON?

Did you move to Charleston for a job? Then you can deduct moving costs for that new job. The new job has to be at least 50 miles from your previous home. If you used your vehicle as transportation for the move, you could deduct mileage costs, parking and tolls. Be sure to calculate the costs of your move and save.

 

GREEN ENERGY

If you installed alternative energy in your southern abode, you can deduct some of the cost through a renewable energy tax credit. You’ll receive a 30% rebate on money spent on green items like solar, geothermal and wind. There is no cap.

 

MORTGAGE INTEREST

Homeowners can also deduct some of their mortgage interest, as well as property taxes, for year-end savings.

 

HOME OFFICE/SELF-EMPLOYED

home office tax tipsIf you are self-employed and have a home office in your Charleston house, you can get a tax deduction on a portion of your utilities, rent/office, as well as other items such as career memberships, education and subscriptions. Save your receipts for all your qualified business deductions and make sure to write it all off when filing your taxes. The self-employed may apply for tax deductions that regular business employees can’t. They can deduct items like part of the rent and utilities as well as equipment, work trucks, cars, vans and more.

 

DON’T WAIT FOR THE BIG REFUND; MAKE YOUR MONEY WORK NOW

If you normally get a big refund, it may mean you are having too much tax taken out of your regular paycheck. It’s like giving the Federal government a free loan! An important tax tip is to adjust your W4 with your employer to get more of your money upfront. Then utilize it immediately and invest it better. There are many online withholding calculators you can use to run different numbers and figure out what works best for your situation.

 

FUND YOUR 401K

You can lower your taxes by reducing the actual income that is taxable. One of the best and most productive ways to do this is to invest in your employer’s 401K plan. There are limitations on the amounts you can invest. In 2016, if you are under 50 years old, you can contribute up to $18,000. Employees that are 50 or older may contribute an additional $6000, for a total of up to $24,000. This extra amount allows a graceful catch-up period to improve retirement outcome. 401K deductions are taken out of your paycheck before taxes, but you will pay a tax later when it becomes your retirement income.

 

IRAs

Another tax tip is to fund a Roth IRA or Roth 401K. These make good investments if you are worried about your taxes increasing over time and having to pay them on retirement income. You don’t get an upfront tax break with a Roth contribution, but when you start tapping into your retirement later, Uncle Sam can’t tax that income because he already did.

 

NO RETIREMENT PLAN OR SELF-EMPLOYED?

Perhaps you have no retirement plan through work or you are self-employed. No problem. You can fund your own retirement plans with an IRA or a Roth IRA as well. People under 50 can contribute $5500; over 50 can pay in $6500 a year. For help getting started, contact a financial planner. Financial experts like Dave Ramsey keep a directory of endorsed local providers that can teach you more about retirement planning and investing. He also has ELPs for taxes as well. You can also learn more about retirement resources through AARP.

 

FLEX PLANS AND HEALTHCARE

medical costs tax tipsIf your employer offers a health flex plan or medical reimbursement account, you can save up to 35% on taxes. You can use the pretax dollars in the account towards medical costs, prescriptions, coinsurance, copays and more — up to $2500.

 

CHILDCARE COSTS

Paying childcare costs with a childcare reimbursement account offered through your job can save you about one-third of the cost. You will not have an income tax or social security deduction on that portion of your salary. Don’t wait to deduct those bills later. Set up an account and receive the full benefits your company offers you.

 

CHARITY

donation tax tipsYou can claim any charity money donated to a tax-deductible charity as a deduction. Transportation to charitable events is also deductible. Track mileage and deduct it come tax time. You’ll feel good about giving back, and the government will give you a break for doing your part.

 

WRAP-UP

Always consider your expenses, lifestyle and costs when approaching your taxes. Many Americans leave hundreds of dollars on the table that they could claim in deductions when filing. Don’t make the same mistake. Follow these tax tips to save yourself money this year.

*Note: for information only. Not to be regarded as legal advice.

 

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Mortgage Rates – Should You Buy A New Home Now?

Near record low mortgage rates are causing many families to consider if now a good time to buy a home in Charleston, SC. Financial experts may advise waiting until you have enough money saved for a down payment, but that could be hard to accomplish for first time buyers. With today’s interest rates being so low and tempting, many people want to buy before the rates change.

2019 mortgage rates in Charleston, SC have are hovering around 4.5%, but may crawl up a bit. Any hike in interest rates could change the housing market. The decision for many consumers is whether to buy now while mortgage rates are still low or risk an increase. Nobody knows for sure when the Federal Reserve will raise rates again, but if you are well-prepared, now may be the perfect time to buy a house in Charleston, SC.

GETTING THE BEST MORTGAGE RATES

To get the best mortgage rate, make sure you know your credit history. Your credit report is essential when dealing with lenders, and you can obtain it free from all three credit bureaus. Before shopping for a mortgage, make sure all of your bills are paid on time and your debt to income ratio is on the lower end. It is best to pay off your monthly credit card bills or at least go above the minimum payment. You should also know your FICO score, which you can order online. Some credit card companies even post it on your account for free.

DOWN PAYMENTS

Having a solid down payment when applying for a mortgage has its benefits. Lenders will want to know what you can put down to help them figure out what they can lend out to you. Most lenders require at least 3% and FHA loans require 3.5%. Of course 20% down is always the best choice if you can afford it, as it allows you avoid PMI (private mortgage insurance) payments.

BUDGETING FOR YOUR NEW HOME

Most lenders will base your monthly payment on 28% of your take home pay. They refer to this as the housing ratio. Financial experts recommend to budget about the same percentage of your salary to be able to afford your new home. Your monthly payment will include the principal, interest, taxes and insurance (PITI) costs. Most people will qualify for a loan amount of 3 times their annual income. For help in calculating mortgage payments, use this handy online tool.

GETTING PREAPPROVED

signatureBefore you shop, it’s best to get preapproved for a loan. You won’t know what you can afford unless you know what banks are willing to loan you. You will have a more successful home search if you have a clear budget in place and know what your price range is. With the right data available for review, many lenders can preapprove you for a mortgage quickly. To be prepared to apply, first gather the following information that most lenders will require:

  • Name and Address(es) for the last 2 years
  • Estimated household income
  • Estimated household expenses
  • Employment and income history
  • Paycheck stubs from the last 30 days
  • W-2 or I-9 tax forms from the last 2 years
  • Personal assets such as CDs, IRAs, property, savings and checking accounts
  • Personal debt

WHICH LENDERS?

There are many lenders to choose from in today’s mortgage business. Your Disher, Hamrick & Myers real estate agent will present referrals for stable, reputable lenders. You may also find a good mortgage through your local bank or private credit union. Either way, you should shop around to see who offers the best and most appropriate loan for your situation.

FINDING THE RIGHT HOME TO BUY

The important thing when shopping for a mortgage and a home is to explore your options and get the right payment and home for you. At Disher, Hamrick & Myers, our experienced team of Charleston REALTORS® will guide you through the process of selecting the right home and discuss any concerns about proper financing. To get the help you need, call 843.577.4115 today.

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Increase Your Property Value with Home Staging

Need to sell your home as quickly as possible and for the best price? Have you considered home staging? If not, you definitely should. With the proliferation of TV shows that highlight carefully staged homes, buyers’ expectations have increased. Homes that are staged sell faster than homes that aren’t staged. Why wait around for someone to see the potential in your home when you can reveal it through some simple staging methods?

WHY STAGING HELPS BUYERS

Many buyers have trouble visualizing a home the way it could be for their family. If your home has clutter and personal knickknacks and photos throughout, it may be difficult for the buyer to see the house as their future home. Removing excess furniture and giving each room a clear purpose can really make a difference. According to the National Association of Realtors® Home Staging Report, homeowners should always do the following before putting a home on the market:

  • Thoroughly clean the home.
  • Remove all clutter from the home.
  • Repair any aesthetic issues.
  • Remove any personal photos and memorabilia.
  • Make sure each room serves a purpose (i.e., a designated family area, eating area, guest room or master bedroom).
  • Be sure not to neglect the outside of your home: pressure wash; blow the roof, driveway and decks; maintain landscaping and add colorful plants; create an outdoor living space.

HOW TO GET STARTED

Youhome staging example at 20 Murray Blvdr real estate agent can help determine what needs to be accomplished to show your home in the best light. Disher, Hamrick & Myers’ agents are experts in the Charleston real estate market and know what buyers are currently seeking. They also have eyes trained to see what you may not. DHM is even the first real estate agency in Charleston to offer in-house virtual staging!

CONSIDER THIS

Here’s a real life example of something you might not consider would affect your home’s salability: a homeowner was a big fan of a local college football team and showcased sports memorabilia throughout the home. That particular team has some pretty big local rivalries and even seeing that school’s color and logo might cause a visceral reaction in fans of the other team, subconsciously giving them a negative vision of the home. Although you might not like fans of a rival football team, you certainly wouldn’t exclude them from buying your home! Simply removing the memorabilia made the home more welcoming to all and didn’t cost a penny.

If you and your agent decide to stage your home, put your focus on the following rooms:

  1. Living room
  2. Kitchen
  3. Master bedroom and bath
  4. Dining area

HOME VALUE INCREASES

According to the NAR report on home staging, 25% of Realtors® believe that staging a home could garner a 1-5% price increase. 19% believe the price increase is closer to 6-10% or more for staged homes. The median cost of staging according to the NAR is $400. Think of it: in 2018, the median sales price in the greater Charleston real estate market was $266,500. That means a potential increase of $2665 -$26,650. That’s a minimum return of over 660% on your staging budget! And if your home is in downtown Charleston where the median sales price is over $1 million, your return is even greater.

DHM REAL ESTATE CAN HELP

At Disher, Hamrick & Myers in Charleston, we won’t leave you in the lurch when it comes to figuring out how to present your home. We know what buyers are looking for today and can guide you through the process with our real estate services. If you decide professional home staging is the right option for you, we can also refer you to a proven, reputable staging company. We’ll even help coordinate the staging process. For ideas on how to get started with staging, or to buy a home that works for you, take a look at some of our beautifully staged properties for sale.

Download your FREE copy of our ebook “How to Get Your House Ready for Sale in 6 Easy Steps!”ebook-cover

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