Blog, Know the Facts
Jun 6, 2019
Julie, is now a good time to buy a home or rental investment?
Now is a great time! Whether you’re looking for your next permanent home or second home/rental investment property, there could not be a better time to dive into the Hilton Head area real estate market.
1. Prices in the Hilton head market are still very competitive and, for the most part, have not yet returned to their pre-recession price points.
2. Interest rates have dropped below 4% – If you’re in a position to purchase today you can lock in low interest rates for either 15 or 30 year mortgages. Not quite ready to make the move – buy at today’s prices and put in a renter to cover expenses.
3. Flood insurance rates are about to change – it is highly anticipate that the redrawn Flood Maps will be adopted in July of this year meaning that many older homes built below the current flood elevation requirements will now be able to obtain relatively inexpensive flood insurance policies.
What this means for buyers is that the rates now are still high and many folks avoid older properties because of the cost of the insurance. If you are a bit of a risk taker, you may be able to get a better price on an older house now than after the flood laws change.
4. Hilton Head and Bluffton continue to be recognized both nationally and globally as best places to live and its popularity is increasing by the day.
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5. Hilton Head is more accessible than ever! Hilton Head airport is now serviced by American, Delta and United! Delta Airlines launched daily service from Hilton Head Island to Atlanta beginning May 24th, 2019, along with a Saturday flight to New York-LaGuardia beginning June 8th. This is fantastic news for not only visitors but also for residents and businesses in Hilton Head Island and Bluffton.
When you factor in all of the above as well as just how beautiful this area is, you can easily see the value.
Don’t let your hindsight be 20/20. Call us today so we can help make your dreams come true.
Expect the best!
If you want to make a little piece of The Island your own, you need more than just a road map and a REALTOR. You need a partner who can make things happen.
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