Top 10 Things to Know When Buying New Construction in Charleston, SC

Buying new construction in Charleston, SC, can be an exciting opportunity, especially with the area’s blend of coastal beauty, historical charm, and modern developments. Here are the top 10 things you should know:

1. Not all Builders are the Same

Prior to selecting a development or builder it is imperative to research the ins and outs of the builder and area. Understanding the builder’s history, previous projects, and reputation in the community will give you an idea of the quality of their work and the way they treat both their clients and the local community. Be sure to check for reviews online, chat with other clients and/ or an expert realtor, and make sure you understand what warranties offered, and how they handle post-sale issues which can and do come up on new construction. Local builders with a strong reputation will have solid portfolios of past projects, so be sure to tour a home if available and see for yourself what the quality of their craftsmanship is like.

2. Understand Coastal Construction & Building Requirements

Charleston's coastal location though beautiful is unique in that it is essential to understand flood zones, hurricane-resistant materials, and any required building codes. In general builders must comply with specific codes for flood, wind, and elevation. These are crucial in protecting your new home and investment, as well as, preparing you for unforeseen Mother Nature and the wear and tear of living in a coastal climate.

3. Customization Options

Depending on the stage of construction, you may have the opportunity to select finishes and specific materials, customize floor plans, and change building materials. This can be both a fun and daunting piece of building from the ground up and each builder handles this differently. Take it from someone who routinely works with builder’s clients who are in the development phase, it is a huge asset to have a designer on board who can help guide the selection of things such as paint colors, finishes, countertops, cabinetry, and flooring. The designer can also help track allowances and timelines and implementation of design elements. Make sure to check with your builder on their process, if a designer is on their team, and what customization opportunities and limitations exist.

4. Home Warranty

Most new homes come with warranties that cover structural issues, systems, and appliances. Make sure to understand the duration of these warranties and what exactly they cover, including any builder-provided warranties.

5. HOA Rules & Regulations

It is extremely common for new developments in the Charleston area to have Homeowners' Associations (HOAs). Therefore, it’s essential to understand the HOA covenants and restrictions, any monthly fees along with what amenities and services they cover, and any transaction costs involved in the purchase of a property in the development. These could influence your decision, especially if strict regulations are in place that might prohibit you from full use of your home as you see fit. Some HOAs can be quite strict about exterior changes, landscaping, or home additions, and the fees can impact your monthly budget.

6. Builder Incentives and Closing Costs

Builders often offer incentives to buyers, such as paying closing costs, upgrades, or providing a lower interest rate through preferred lenders. Be sure to negotiate and explore what incentives may be available.

7. Understand Flood Zones and Insurance

Due to Charleston's coastal location, many areas are in designated flood zones, and it is our belief that every home needs to be insured against flood damage. Work with a knowledgable real estate agent and insurance provider to understand FEMA’s flood maps and how this might affect your insurance premiums and future home value.

8. Community Amenities

New construction developments in Charleston often feature community amenities like pools, walking trails, playgrounds, and even golf courses. Consider what amenities are offered and how they fit your lifestyle.

9. Financing New Construction

Sometimes, builders partner with preferred lenders offering incentives like closing credits or discounted interest rates. Ask your builder or real estate agent if this is an option. That being said, it’s also smart to compare rates from your bank or mortgage broker to ensure you're getting the best deal.

10. Timeline Expectations

New construction timelines can vary drastically, and there can be many outside variables that hold up the process. Things like weather delays, supply chain issues, and permit approvals can all affect the completion date and push back your closing and move. Be sure you have a clear understanding of the expected timeline, and buffer that the builder has employed, and stay in direct communication with the builder throughout the process so there aren’t any surprises as you near the finish line.

Buying new construction in Charleston offers the opportunity to own a home in one of the most desirable cities in the country, and our personal favorite. Let us know how we can help you research and understand what communities might suit your lifestyle and long-term goals. We work with many local builders and developments and can provide insight into the process to get you started.

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