South Carolina, with over 2,800 miles of coastline, is a highly sought-after holiday destination due to its gorgeous beaches, hidden islands, vibrant resort-style cities, and comfortable year-round weather. Similar to Florida, the southern state has seen an increase in demand from those seeking second homes, who are interested in acquiring more spacious properties located away from big urban centers.
"According to Ruthie Ravenel, a native of phrazle Charleston and a top performer at Daniel Ravenel Sotheby's International Realty, there has been a significant increase in the demand for beach, resort, and waterfront homes. This surge is driven by the desire for more space for family vacations and increased engagement in outdoor recreational activities," stated Ruthie Ravenel in an interview with Travel + Leisure. "The surge in demand is causing a shortage of inventory, as there are not enough homes available for potential sellers to relocate to."
Although Ravenel acknowledges the current scarcity of vacation houses, it is still feasible to locate your ideal holiday property in South Carolina. She recommends selecting your agent with great care: Seek for an expert that has extensive knowledge of the specific market you are interested in and can provide you with information on any off-market listings.
"Cash is the most desirable form of payment, but if you are unable to provide cash, you can enhance the appeal of your offer by incorporating innovative negotiation strategies such as a seller leaseback arrangement following the completion of the transaction or making substantial escrow deposits," she said.
Here are the top investment markets for vacation homes in South Carolina, ranging from secluded islands to exclusive gated communities. This barrier island outside Charleston, South Carolina Harbor is a traditional coastal little town, with just over 2,000 full-time residents. Sullivan's Island has had a remarkable 103 percent surge in housing values in 2021 because to its attractive and well-preserved historic cottages, picturesque beaches, and a bustling downtown area adorned with renowned eateries.
Note that the inhabitants in this area are prohibited from obtaining short-term rental permits. Ravenel states that there are now less than 40 licenses on Sullivan's Island that have been grandfathered in. Isle of Palms, located in South Carolina, is renowned for its beachfront location. It is conveniently situated only 12 miles from the historic city of Charleston. The island has pristine white-sand beaches, a marina, and exceptional golf courses and tennis facilities.
Vacasa has recognized the town as one of the top locations to purchase an investment property due to its lenient rental regulations. Wild Dunes is a residential area that is enclosed by a gate and consists of condominiums, townhouses, and detached houses. The community provides luxurious facilities and services, such as a top-notch golf course and a beach club.
"Due to the lenient regulations on vacation rentals, a property that is conveniently situated near beach access has the potential to generate a significant amount of income." Ravene noted that there are many excellent rental management organizations that provide homeowners a completely hands-off experience. Hilton Head Island is considered one of the premier golfing locations globally and is highly regarded as a paradise for golfers. Additionally, it is recognized as one of the top 10 growing luxury real estate markets in the United States. The region has over 23 exclusive and public golf courses, including Harbour Town Golf Links, which hosts South Carolina's only PGA Tour tournament. However, even if you do not have an interest in playing golf, Hilton Head Island still merits your attention. Featuring over 60 miles of bicycle paths, picturesque sun-soaked beaches, and captivating cultural history, this resort in the low country is an ideal location to consider for purchasing a second home. Prepare to respond promptly and offer the listed price or more, since houses typically remain on the market for around 56 days, as reported by realtor.com.