Herman and Davis Properties

Tag: buying

4 Home Buying Contingencies You Should Know About

As real estate agents, we’ve worked with some pretty cautious buyers over the years. If you’re like most people, a home is one of the biggest purchases you’ll ever make. You’re bound to feel at least a little bit nervous about the possibility that your deal will go very wrong. If it does, the last thing you want is to be on the hook financially. That’s where home-buying contingencies come in.

Contingencies are conditions that need to be met—or the transaction you’re involved in will never close. By adding the right ones to your purchase contract, you can make sure that you’re protected if worst comes to worst. Here are the four home-buying contingencies you should know about…

1) Financing contingency

Worried that your mortgage financing could fall through after you’ve agreed to purchase a home? It happens. The good news is, adding a financing contingency can help you avoid serious financial consequences if it does. Let’s say you receive mortgage pre-approval and enter into an agreement to buy a property. You still have to go through the underwriting process before you receive your loan—and it’s entirely possible that you’ll hit a snag and be denied along the way. If you have a financing contingency, you can use it to get out of your purchase.

2) Appraisal contingency

If you need a mortgage to buy a home, you may want to include an appraisal contingency in your contract. Here’s how it works. Before you can receive a loan, your lender will have the home that you’re planning to buy appraised to determine its fair market value. Put simply, you can’t be approved for a mortgage that equals more than the appraisal amount. So what happens if you and the seller have already agreed to a purchase price that’s above fair market value? Without an appraisal contingency, you may be out of luck. If you have one—you guessed it, you won’t have to go through with the purchase.

3) Inspection contingency

Usually, having a qualified inspector give a house or condo the once-over is a wise decision. For added protection, you might also want to make the completion of your home purchase dependent on a successful inspection. If a serious issue turns up during the process, you can back out of the deal—or negotiate with the seller to have them perform the necessary repairs. Buyers who include an inspection contingency will want to use a Due Diligence Addendum. Doing so will give you an agreed-upon number of days to find the answers to any relevant questions before you move forward confidently with their purchase. A knowledgeable real estate agent can explain the specifics.

4) Home sale contingency

A home sale contingency allows buyers to get out of a home purchase if they aren’t able to sell the house or condo they’re in now. It’s worth noting that this contingency isn’t used often anymore, especially in hot markets. As a result, many sellers refuse to accept it—and including one in your offer could make it significantly less appealing. The good news? Well-maintained properties on Hilton Head tend to attract plenty of buyers. This means there’s a good chance you’ll be able to sell your home after you sign a purchase contract. Of course, things don’t always turn out that way, so it’s best to talk to your agent before taking this step.

The bottom line

Home-buying contingencies offer a certain level of protection for buyers. That said, if you’re making an offer on an in-demand property, including too many of them (or any all) could mean losing out to a buyer who doesn’t. A knowledgeable real estate professional can help by looking closely at your specific circumstances and helping to determine which action to take.

Have questions about buying a home on Hilton Head? Get in touch—we’ll walk you through the process and give you an idea of what’s available on the market!

October 22, 2021
Is Hilton Head Real Estate A Good Investment?

We’re all aware that the island is a wonderful place to live, as well as a beautiful vacation spot. What many potential buyers don’t know is that the homes here are also an incredible investment. The right piece of Hilton Head real estate can provide years of personal enjoyment, not to mention some impressive supplementary income to help fund your current lifestyle—and your future retirement!

If you’re looking for the ideal place to invest in property, here are a few reasons why Hilton Head should be high on your list…

High demand

Not all real estate investments are created equal. If you’re looking to maximize your returns, choosing the right location is key. What makes Hilton Head such a great option is the high demand for local vacation rentals. Our little piece of the Lowcountry is extremely popular among those who want to get away for a while, and that’s not going to change.

Visitors flock to the island for the world-class golf courses, pristine beaches, charming retail and dining options, and thriving art and cultural scene. These attractions set us from vacation hotspots that only cater to families with young children, couples, or retirees. There’s something for everyone here, and many high-net-worth individuals are willing to pay a premium to experience it!

Impressive property values

Wondering what will happen when it comes time to resell your investment? You’ll be happy to learn that there’s a whole lot of Hilton Head property changing hands—and sellers are seeing fantastic returns. Recent figures show that average real estate prices are rising, and there are a growing number of successful professionals snapping up local property. We can thank all of the companies that offer work-from-home options for that!

Hilton Head is also home to a thriving luxury market, which is great news if you’re thinking of investing in high-end property. Last but not least, the new airport expansion will only make the island more attractive to future buyers—no matter their price point.

Vacation savings

One of the biggest benefits of renting out a vacation home? You get to choose when you use it. If you feel like hitting the links in the fall, you can. If you’re hoping for some beach time in July, it’s very doable. Owning an investment property on Hilton Head will allow you to create a schedule that works for your family—and save you money in the process!

Think about it. Paying for a rental every time you need some rest and relaxation adds up quickly. In contrast, investing in a vacation home will allow you to enjoy the island for less. If you ask us, it’s a win-win.

A place to retire

Imagine having Hilton Head’s 12 miles of beaches—and the time to explore them—at your disposal. Picture yourself strolling through our charming downtown whenever you feel like it, or enjoying freshly-caught seafood lunches on our local patios. Put simply, we can’t imagine a better place to retire. If you don’t live here fulltime yet, securing an investment property today could help you do so cost-effectively.

Not sure what the future holds? Buying Hilton Head real estate may still be a very smart move. An increase in your property’s value, even if it happens slowly over time, could help you fund a comfortable retirement!

Real estate can be a very lucrative investment, especially when you purchase it in an in-demand location like Hilton Head. While you may be wary of taking the first step, a knowledgeable local agent can help you minimize the risk—and maximize your return. Are you ready to learn more?

Preparing to find your ideal investment property on Hilton Head? Let us help you locate the perfect place. Get in touch—we’d love to answer your questions!

March 16, 2020
5 Tips For Finding Your Dream Home in 2020

Are you ready to find your ideal living space? Many buyers begin their search by perusing online listings. While there’s nothing wrong with starting things off casually, there are a few more steps you’ll want to take once you’re ready to get serious about the home hunt. There’s no better time to do that than in January and February of a new year!

From careful budgeting to identifying your must-have features, here are five tips for finding the perfect Hilton Head property in 2020…

1) Know what you can afford

Take it from us: one of the biggest mistakes buyers make is believing they have more to spend on a home than they actually do. Falling into this trap is all too easy. Fortunately, it’s also avoidable. Start by getting familiar with average prices for properties within your communities of interest.

Next up, figure out how these numbers match up with your budget. That means looking at your annual household income and tallying up your ongoing expenses to figure out how much you can spend. You’ll also need to factor in all closing costs—from the property appraisal you’ll need to pay for to your upcoming legal fees. This step can be daunting, but a Hilton Head real estate expert can help ensure that your budget is realistic based on current housing prices.

2) Save for that down payment

If you don’t quite have enough for your home down payment, make 2020 the year you save up for what you need. Conventional wisdom suggests that 20 percent of your purchase price is ideal—plus you won’t have to pay private mortgage insurance if you put down this amount. Having said that, you have options, and the right financial expert can help you explore them.

Once you know how much you need (based on your preferred home type and community), set a reasonable monthly savings goal. Cut down on your spending if need be, and consider setting up an automatic savings plan so you don’t have to think about setting the money aside yourself.

3) Get to know the lending landscape

Before you apply for a mortgage, get prepared by familiarizing yourself with the financing landscape. Exploring your options is a great way to get ready for that major purchase you’re planning to make this year. While your bank offers several potential advantages, they can only provide you with their financial products and services. In contrast, a mortgage broker can shop around on your behalf.

You should also make sure you understand the benefits of obtaining pre-approval. By taking this crucial step before you jump into the home hunt, you can assure sellers that you’re a serious buyer.

Remember: the lender that’s right for you will depend on your circumstances, which is why it pays to do your homework!

4) Keep your eye on the prize

We can’t over stress the importance of getting pre-approval. That said, you should know that it’s not the same as being fully approved for a mortgage! A lot can happen between the moment you get your pre-approval letter and closing day—and some changes could have an impact on whether your deal closes at all.

To help ensure that the purchase process goes smoothly, try to maintain your financial situation after you’ve been pre-approved. That means no major purchases and no new lines of credit. Don’t forget to check in with your lender leading up to closing day, just in case they require any additional paperwork.

5) Find a qualified agent

If you’re planning to buy a home in 2020, finding the right guide is one of the best gifts you can give yourself. Your agent will be with you from the beginning of your search right up until the end—so make sure the professional you choose is the best person for the job!

While an impressive track record is crucial, so is a complete knowledge of Hilton Head, its communities, and the local market. To get started off on the right foot, get in touch to learn more about our approach to buying a home.

Ready to find your ideal home on Hilton Head? Let us help you find the perfect place. Get in touch—we’d love to answer your questions!

January 22, 2020
Hilton Head Vs. Charleston: Where Should Your Next Home Be?

There’s no denying that South Carolina is a wonderful state. Whether you’re looking for a heavenly vacation spot or the perfect place to settle down, there’s no shortage of great options here. Two of the most in-demand areas are Hilton Head and Charleston. As islanders, we admit that we may be a little bit biased. After all, there’s no place we’d rather live than in our Lowcountry paradise. That said, we know that Charleston has a lot to offer—which is why we’re providing a side-by-side comparison of these two South Carolina hotspots.

If you’re wondering which place is better for your family—Hilton Head or Charleston—here’s what you should know…

The basics

Charleston

Population: 131, 204

Density: 1,159 people per square mile

Median household income: $61,367

Hilton Head

Population: 39,666

Density: 959 people per square mile

Median household income: $72,569

The breakdown

Hilton Head has fewer people and a lower population density than Charleston, making it a great place to spread out, relax, and put down roots. Residents of both places enjoy a relatively high household income, though professionals on the island tend to bring in more money annually.

Real estate

Hilton Head

Median home value: $454,300

Median listing price: $455,000

Charleston

Median home value: $286,200

Median listing price: $315,000

The breakdown

Home values and listing prices are typically higher in Hilton Head than they are in Charleston. While there’s good value to be found in both places, there are some key differences between the two.

Hilton Head is home to an impressive luxury market, which boasts a large number of high-end estates. While you’ll find multi-million-dollar mansions here, there are also plenty of more modest options available—including a variety of stylish condos and villas on the water. Price points vary on the island, but there’s plenty of value in the market. And because properties are in demand, homeowners tend to see high returns when they sell.

If you’re looking for newly-built homes, there’s a wide array of them in the subdivisions of Charleston. You’ll also find some attractive historic properties, ranging in style from Georgian to Queen Anne and beyond. For ambitious buyers, there are some major opportunities to restore homes built in the 1800s (of course, this type of commitment isn’t for everybody). Unfortunately, one of the big drawbacks of living in Charleston is traffic congestion.

Golf, tennis, and other attractions

Hilton Head

• Harbour Town Golf Links

• Palmetto Dunes Tennis Club

• Hilton Head Island Bike Trails

• Coastal Discovery Museum

• Pickney Island National Wildlife Refuge

• Sea Pines Forest Preserve

Charleston

• The Ocean Course (Kiawah Island)

• Links Course (Wild Dunes)

• Charleston Tennis Center

• Maybank Tennis Center

• The Aiken-Rhett House Museum

• Magnolia Plantation and Gardens

The Breakdown

Hilton Head is home to some of the best golf and tennis facilities in the country. Favorites include Harbour Town Golf Links (an award-winning course that hosts the RBC Heritage on the PGA Tour) and Palmetto Dunes Tennis Club (which is designated number 2 on the planet for instruction and events). The island is also home to pristine nature preserves, historical and cultural attractions, and a number of charming restaurant and shopping districts.

Charleston doesn’t host an event like the RBC Heritage (South Carolina’s only PGA tour event), but it has some impressive courses all the same. The top choice for golfers is the Ocean Course on Kiawah Island. For those who prefer rackets to clubs, the Charleston Tennis Centre is the way to go. You’ll also find several museums that speak to the area’s rich history, and a lively downtown (just beware of common city problems like insufficient parking and noise).

Beaches

Hilton Head and Charleston are both known for their beautiful beaches. The key to finding the sandy stretch that’s perfect for you is knowing what each area has to offer.

Folly, Sullivan’s Island, and Isle of Palms are some of the top beaches in Charleston. Whether you’re looking to relax by the water or try out some water sports, any one of these options will serve you well. Potential downsides include the crowds, as well as humidity (which tends to collect in this part of South Carolina).

Hilton Head is also blessed with its fair share of sandy coastline. The variety on the island is truly incredible—from vibrant Coligny Beach to peaceful Burkes Beach. Whether you’re looking for a private (community members only) spot or something a bit more lively, you’ll find it here. The island also boasts extensive bike trails, and they make getting to and from some of Hilton Head’s best beaches a breeze!

Making a decision

At the end of the day, Hilton Head and Charleston are both great places to live. It really comes down to preference. While Charleston has a city feel, Hilton Head is known for its friendly village vibe. Of course, we’re partial to the island—where every day feels like a vacation.

If you’re ready to learn more about what Hilton Head has to offer (and some of the gorgeous properties on the market here) don’t hesitate to get in touch. We’d love to show you around!

Thinking about making a move to Hilton Head? Let us help you decide whether the area is right for you. Get in touch—we’d love to answer your questions.

December 18, 2019
5 Benefits of Working with a Full-Service Real Estate Team

If you’re ready to buy or sell a home, you may be wondering how to choose an agent. There’s no shortage of real estate professionals out there, and deciding who to work with can be challenging. While there are many factors to consider, we believe that one of the most important (and most frequently overlooked) is whether an agent works as part of a team. No real estate professional is an island—and the talent we surround ourselves with can help us provide the highest possible level of service!

If you’re looking for the right real estate agent to partner with, here are five reasons to choose someone who works with a full-service team…

1) A more efficient process

The truth is, real estate transactions run smoother when there’s a team of professionals working to make them happen. It’s not all about the agents involved—the support staff is also invaluable. As just one example, a great closing and listing coordinator will make the process more efficient by coordinating next steps, preparing crucial documents, and verifying important legal and financial details. Put simply, they help ensure that there are fewer hiccups on the road to getting the deal done!

2) Better connections

When it comes to serving clients, relationships are key. The more close professional connections we real estate agents have, the better your experience is going to be. Looking for the ideal buyer for your property? We may already know them. Searching for someone to do minor repairs before you sell? We can help you out. Having a caring and personable team helps us strengthen these relationships. That often includes a licensed personal assistant—someone who’s just as comfortable coordinating with professionals as they are greeting and assisting clients.

3) Step-by-step guidance

The more attention an agent can spend walking clients through the buying or selling process, the better. Buyers, in particular, tend to appreciate this type of guidance—especially first-timers. Luckily, a trustworthy team will take some of the pressure off so that their agents can focus on what matters most (the clients). And when it comes to giving home hunters a straightforward, low-stress experience, nothing beats having a dedicated buyer’s agent on staff!

4) Marketing expertise

Effective marketing is hard work. Sure, anyone can snap a few photos on their iPhone, jot down some property details, post them online, and call it day. But it takes strategy to do it right—which includes perfect timing. By taking care of campaign details, real estate marketing coordinators ensure that homes receive the exposure they deserve. We can’t tell you how much it helps to have our expert assistants working as part of our extended team.

5) A one-stop-shop experience

As you can see, a successful home sale or purchase comes down to more than just a talented agent. When you work with a full-service team, you’ll benefit from the combined skillsets of numerous real estate professionals. You’ll get everything you need—all in one place. So forget about the leg work and get ready for a simple, smooth, and enjoyable transaction. With some of the best in the business working together to serve you, a fantastic outcome is right around the corner!

Ready to buy or sell a home on Hilton Head? Get in touch to learn how our team can help—and take the first step towards a great real estate outcome. Send us a message to discuss your needs today!

November 21, 2019
5 Reasons to Get Pre-Approved for a Mortgage

Not sure if you should obtain mortgage pre-approval before starting your home search? You’re not alone. We can’t tell you how many buyers have asked us about this crucial step in the purchase process. Put simply, getting pre-approved by a lender is a sign that you’re well-positioned to receive a mortgage. While it’s not a guarantee, it will bring you closer to full approval – and give you a very good idea of how much you can expect to receive. As far as we’re concerned, the benefits of completing this process far outweigh the effort involved.

If you’re about to start your search for a home, here are five reasons to get pre-approved beforehand…

1) Sellers will take you seriously

Purchasing a home is a big commitment, and buyers don’t always make it to the finish line. So it’s understandable that sellers are sometimes hesitant to make a deal. Fortunately, there are things you can do to boost their confidence in your offer. Obtaining pre-approval is a great first step. By going through the process with a lender, you’re sending the message that you’re a serious buyer. You’re showing home hunters that you’re ready, willing, and financially prepared to buy. Trust us, it can go a long way!

2) It can help you set your budget

It happens all the time. Buyers think they can afford more square footage than they can, so they wind up looking at homes outside their price range. The best way to avoid this outcome is by creating a thorough home-hunting budget. You’ll want to factor in all your ongoing expenses, but the amount you’re pre-approved for is a great jumping-off point. Many buyers find that pre-approval is just what they need to get the process started.

3) You’ll be equipped if there’s multiple offers

In a competitive-buying situation, it’s important to put your best foot forward. That usually means making an impressive bid – and showing that you’re capable of following through on it. Unfortunately, when a property is in demand, it’s all too easy for buyers to get caught up in the excitement and make offers they can’t afford (or receive financing for). Sellers know this, which is why they’re often more comfortable going with a buyer who’s already been pre-approved.

4) It can help you get prepared

Home buyers who don’t get pre-approved run a much higher risk of having things fall apart due to a financial issue. It’s possible to be completely unaware of credit errors that could impact your mortgage application, for example. Having a lender comb through your finances as part of the pre-approval process will highlight these problems early on. It could save you a lot of heartache – and help you decide if there are steps you should take to improve your situation before jumping into the search.

5) You’ll be one step closer to closing

Another reason to get pre-approved? Once your offer is accepted, you’ll be closer to completing your transaction than a buyer who’s only pre-qualified. Put simply, there’s a lot of financial background checking involved in obtaining a mortgage. Luckily, if you’ve gone through the pre-approval process, a lender has already done a lot of the leg work. The result is usually a more efficient purchase process – and less time before you close!

There are few things as exciting as buying a home, but there’s no denying that the process can be stressful. That’s why it’s so important to get started off on the right foot. Fortunately, obtaining mortgage pre-approval can lay the groundwork for an easy, low-stress purchase!

Have questions about buying a home on Hilton Head? Get in touch—we’ll walk you through the process and give you an idea of what’s available on the market!

August 26, 2019
Negotiating To Get Your Dream Home: Our Top 5 Tips For Buyers

Ready to buy a home? Wondering how to negotiate with a seller during your purchase? Try these five tips to get the most out of the process…

For many people, the word “negotiations” calls to mind corporate boardrooms and cheesy car dealerships. But when it comes to real estate, the bargaining table is the best place to make your wishes known. This is where counter offers are made, helpful discussions happen, and the stage is set for a smooth closing. Best case scenario? You walk away with a purchase price and set of home-buying conditions you’re truly happy with.

Of course, getting what you want during the negotiation process is no easy task. But with these five tips, you’ll be well on your way to achieving a great result.

1) Do your homework

It’s impossible to negotiate successfully if you haven’t done your research. That’s why a good agent is always prepared when they go to the bargaining table. They know the seller’s community, inside and out. They also know how much buyers have recently paid for similar homes in the area. This information is priceless. Pointing out that your neighbor got a much better deal than you’re being offered can result in a far more reasonable selling price—and more money in your pocket.

2) Know the seller

When we’re creating a negotiation strategy, it helps to find out as much as we can about the seller involved. Do they have to relocate quickly, or would they rather take their time moving? Is it convenience they’re looking for, or are they motivated purely by cold, hard cash? A good agent can often learn the answers to these questions through a bit of casual conversation. That’s good news, because once you know what a seller wants, you can put together an offer that truly appeals to them.

3) See the other side

Compromise is a part of life, and it’s certainly a part of the home-buying process. As much as we enjoy helping the buyers we work with get the best price possible, we also know that it’s not all about winning. It’s about making sure the purchase process is smooth—while coming to an agreement that ultimately works for both parties. The only way to do that is by seeing the seller’s point of view. Take it from us: the results are better for everyone when both sides work together!

4) Know what’s negotiable

Did you know you can negotiate for a lot more than a lower purchase price? If you didn’t, you’re not alone. Many buyers aren’t aware that they can ask for all kinds of things during the negotiation process. It doesn’t matter whether you want to have a major repair completed, obtain a later closing date, or keep those elegant light fixtures in the living room. More often than not, the things you’d like are worth asking about. Make sure your agent knows what a successful purchase looks to you—that way, they can put their efforts towards making it a reality during the negotiation process.

5) Find a negotiation expert

Unfortunately, negotiating isn’t the easiest skill to learn. Most people aren’t very good at it, and that’s okay. If you work with the right agent, they’ll advocate for you—and do so persuasively. They’ll know how to read sellers and their agents. They’ll know when to push forward with confidence, and when to hold back. Put simply, a professional with real estate negotiation expertise is someone you want in your corner during the home stretch of your purchase.

During one of the biggest transactions of your life, you should make sure that all of your needs are addressed. Start by knowing what you want—and finding an agent who can help you get it.

Ready to buy a home on Hilton Head? We have the experience and local market knowledge to help you through the process. Send us a message—we’d love to discuss your needs!

June 13, 2019
5 Tips for Home Buyers in a Multiple-Offer Situation

No doubt about it: Hilton Head real estate is a hot commodity. Home hunters come from all over to find their ideal Lowcountry properties—and once they do, the competition is stiff. Unfortunately, squaring off against other buyers for a house or condo can be pretty stressful. The good news? If you fall in love with an in-demand property, the outcome isn’t entirely up to fate. By making the strongest offer possible, you can maximize your chances of securing the home of your dreams.

Without further ado, here are our top five tips for coming out on top in a multiple-offer scenario…

1) Get pre-approved

Three words: obtain mortgage pre-approval. Whenever possible, we tell buyer clients to get pre-approved before they enter the market. During this process, a lender will look closely at your financial situation to figure out just how much financing you’re likely to get. While many home buyers skip this step, it can make a huge difference in the eyes of sellers.

A pre-approval letter shows you’re serious about making a purchase. It says you’ll almost certainly have the funds to make it to closing. In a competitive situation, that kind of dependability can set you apart from other buyers.

2) Make your best offer first

At the offer stage, we often advise leaving room to negotiate. This strategy can lead to a better price and more favorable purchase conditions. But there are also times when you should offer as much money as you can right out of the gate—like when there are other motivated buyers in the mix.

The truth is, sellers don’t always want to go through a long, drawn-out negotiation process. When they already have some great offers on the table, they’ll often just go with the highest bidder. Of course, that’s not always the case. A seller’s reasons for choosing one offer over another can be complex, so it pays to work with an agent who has experience with these types of situations.

3) Forgo unnecessary contingencies

Many home hunters don’t know what contingencies are, but the idea behind them is pretty simple. In the most basic terms, they enable you to back out of a deal if certain conditions aren’t met. For example, if there’s a financing contingency in your contract and your mortgage falls through, you won’t have to go through with your purchase. These stipulations can protect you—but they can also make the path to closing more complicated for sellers.

Reducing the contingencies in your offer (or removing them altogether) can help you simplify the process, which could give you an edge over other buyers. Just be sure to talk to your agent to assess the level risk involved for your circumstances.

4) Consider making a cash offer

If it’s a possibility for you, consider offering to buy your dream home in cash. It may sound a bit odd, but there’s a reason why sellers like these types of offers so much. They tend to be both quick and relatively simple—which is why buyers who make them often have a huge advantage.

Since there’s no lender involved in a cash offer, there’s no mortgage processing time. There are also no unpleasant surprises to hold things up at the last minute (something that happens all too often with home loans).

5) Work with the seller’s timeline

Cold, hard cash is the deciding factor for most sellers. But for many, convenience matters—a lot. That’s why we always aim to get a sense of a seller’s timeline. If they’re relocating for work or family, it’s usually short. On the other end of the spectrum, some sellers prefer to move at a more relaxed pace. Either way, if you’re willing to work with their schedule, they may be more likely to accept your offer. Be as flexible as you can!

We’ve helped buyers navigate enough multiple-offer scenarios to know they can be stressful. Having said that, the possibility of a bidding war doesn’t have to impact your life in a negative way. We suggest doing everything you can to strengthen your offer—and up your chances of getting your dream home.

Have questions about buying a home on Hilton Head? Get in touch—we’ll walk you through the buying process and give you an idea of what’s available on the market!

May 6, 2019
4 Things to Know about Buying a Vacation Home

Are you looking for your own personal oasis? We’re talking about a place where you can unplug, kick back, and truly relax. A place where your cares melt away the moment you unlock the front door. Put simply, the living space we’re describing is the vacation home of your dream.

Many of the Hilton Head buyers we work with are looking for a home away from home. It makes sense—the island’s temperate climate, spectacular ocean views, and world-class recreational opportunities make it a vacationer’s dream. While we love the enthusiasm of these paradise seekers, we always tell them that the process of buying a second home comes with some unique challenges. Fortunately, knowing what to look for will help you make a purchase that you’re absolutely thrilled with—today, and for years to come.

If you’re preparing to buy a vacation home, here are four things you should know as you embark on your search…

1) What you’re looking for

Close your eyes and imagine your ultimate vacation. Are you relaxing in the lap of luxury? Enjoying the solitude of a cozy little villa? The answer to this question will help ensure that you find exactly what you’re looking for in a property. For some buyers, it’s all about being waterfront. For others, it’s about having the outdoor kitchen or spa-inspired bathroom of their dreams. Once you decide what you want your vacation days to look like, it will be much easier to create a list of must-have features to guide you during your search.

2) Where you want to be

There’s no shortage of places to buy a gorgeous home, but some areas will be better aligned with your preferences than others. That’s why it’s so important to choose your location wisely. We’ve worked with a whole lot of buyers over the years, and many of them know exactly where they want to be—whether that’s in a specific community, near a particular golf course, or within walking distance of a marina or private beach. Of course, it can sometimes take a little bit longer to find your dream home when you’re set on a particular neighborhood. But in our opinion, the outcome is always worth it!

3) How you’ll get there

It may sound obvious, but make sure your vacation home is accessible enough that you’ll use it regularly. Trust us, it’s all too easy to fall in love with a property and forget about the commute! Here on the island, many property owners fly in for their vacations. Thanks to a recent runway extension at the Hilton Head airport, there’s potential for more flights to come to our little piece of paradise than ever before. Our point is, whether you plan to fly or drive to your dream destination, it pays to think through the route you’ll take—and whether the distance could be an impediment in the future.

4) The rental options

The demand for vacation rentals is high, and many owners in desirable destinations are cashing in. But before you buy a property with the intention of renting it out, it’s important to know the rules. In many communities on Hilton Head, you’ll have the freedom to rent out your vacation home according to your own terms. Others have restrictions in place, or prohibit the practice altogether. Your agent will know what you can and can’t do, so be sure to discuss it with them before making a commitment. Word to the wise: if you do get the opportunity to rent out your space, make sure you know your taxation obligations!

The bottom line? Owning a vacation home can be incredibly rewarding. To get the most out of the experience, it pays to know what you’re looking for—and be aware of any small challenges that could come up along the way.

Looking for your ideal vacation home on Hilton Head? Reach out to learn what’s on the market, and how we can help!

March 27, 2019
Do You Really Need a Realtor to Buy Your New Home?

Are you preparing to jump into the real estate market? If you’re like many buyers, you may be wondering if you’ll need a Realtor to find the home of your dreams. In all honesty, there’s no simple answer. On the one hand, we help home hunters navigate the buying process on a regular basis, and they’re always thrilled with the outcome. On the other, we’re well aware that many buyers make the decision to start searching on their own.

Ultimately, how you approach your home purchase is up to you. But we have some advice for anyone who’s thinking about going it alone: understand what a buyer’s agent does. Knowing the value that an expert can provide will help you make an informed decision about whether you should work with one.

Here are some of the major ways that an experienced agent could help you find and secure your ideal property…

Market knowledge

Is that home you found online really worth the asking price? And how much are other buyers in the area paying for similar properties? Experienced agents know the answers to these questions. We can determine the market value of a property, and whether there will likely be room to negotiate.

Here on Hilton Head, there are so many different types of property available—from modest vacation homes to spacious oceanfront villas—that it pays to know what a piece of real estate is really worth. A professional who knows the local market inside and out can give you that information—and prevent you from seriously overpaying for a home.

Community expertise

In our experience, home buyers are savvy. So it makes sense that they place such a high value on neighborhood expertise. From homeowners association fees to plans for future development to local grocery stores and cafes, it’s important to know a community intimately before you decide to call it home.

A great buyer’s agent will help you match your needs, goals, and lifestyle to the neighborhood that’s perfect for you. On the island, that means knowing the many potential benefits that an area provides (such as private beach access) as well as any rules associated with it (such as possible restrictions on renting out vacation properties).

Offer-stage advice

Finding your dream property is exciting, but it’s only half the battle. Take it from us: making an offer and having it accepted can be complicated! One of the biggest challenges you’ll likely face has to do with money. Offer too little of it, and you may be overlooked by sellers. Too much, and you could wind up overpaying.

Of course, it’s not always all about cold, hard cash. Often, getting a seller to accept your offer means making it appealing in other ways. Should you make a concession, write a compelling letter, or be more flexible with your closing timeline? A buyer’s agent will look at your situation and help you decide which tack to take.

Also worth noting: a buyer’s agent can help you navigate multiple offer scenarios. That’s good news for Hilton Head buyers—because if you’re planning to buy a gorgeous property here, there’s a good chance you’re going to face some competition.

Negotiating

Unless a seller accepts your offer as-is, you’ll need to enter into negotiations with them. This is your opportunity to ensure that the purchase you make works in your favor. It can also be a nerve-racking experience—even for those who have sales experience.

Fortunately, an experienced buyer’s agent will enter negotiations with an understanding of seller psychology, a full awareness of how seller’s agents work, and an in-depth knowledge of the local market. It’s our job to use this information to advocate for you at the negotiation table—and ensure that you get the best price possible!

The details

Last but certainly not least, a great buyer’s agent will ensure that the details of your purchase are taken care of—right up until closing. They’ll advise you about the steps you need to take to complete the deal, and help you coordinate with the seller, their agent, and the other parties involved.

Of course, we agents aren’t the only people who can help you make a successful home purchase. From mortgage lenders to legal experts, you’ll almost certainly need to consult with outside professionals. We Realtors can make the process easier by recommending the best in the business! It’s all part of our friendly approach—which is exactly what buyers expect on an island like Hilton Head.

The bottom line

So, should you buy a home without the help of a Realtor? There are many factors to consider, and the decision is ultimately yours to make. That said, it’s important to be aware of what buyer’s agents bring to the table—and how your own skillset matches up. Whether you work with an agent or decide to make a purchase on your own, it’s important to ensure that you feel comfortable at every step of the process.

Have questions about buying a home on Hilton Head? We’d love to walk you through the buying process—and give you an idea of what’s available on the market!

March 27, 2019