Oh Canadaaaa! Our Home and Native Land …. After 25 years living in the US I still grow nostalgic when I hear the Canadian National Anthem and I love to visit family/friends as often as possible; but the Real Estate Market rebound means I may have to forego my 2014 summer visit. Yes, Charleston SC Real Estate activity is, in a word, Robust; a testament to several factors, here are a couple of examples: 1) Job Growth: Google, Boeing among other employers are creating a solid job market. Some writers are referring to Charleston SC as the Atlantic Coast Silicon Valley! 2) Lifestyle: The miles of coast line, beaches, history, cultural events, no snow, low property taxes etc. have made Charleston a #1 rated place to live and/or retire by such publications as Conde Nast Traveler, Travel & Leisure, StateTech and others…. So why is Florida the #1 destination for Canadians to purchase a home in the USA?? During a recent educational seminar on the Global Real Estate market I was amazed to learn that Canadians account for 23% of all residential US homes purchased by internationals. To put that into a monetary perspective that represents $15.7 Billion of the total $68.2 Billion in International Sales for the 12 month period ending 03/ 2013. Canadians buy more US residential property in the USA than folks from China and Mexico combined !
The obvious next question is “Where do Canadians purchase homes in the US?” Well according to the most recent NAR (National Association of REALTORS) 2013 Profile of International Home Buying activity Canadians buy homes, by and large in the following three States: Florida (39%), Arizona and California. Now I have nothing against Florida; in fact my sister lives in Florida but I believe anyone from Canada considering a home purchase in the Sunshine State needs to – at a minimum research life in Charleston SC …. I recognize that pricing may generally be considered more favorable in Florida and I am always mindful of my buyers’ budget however there are other considerations. In fact, it seems a number of folks who purchase in Florida do end up selling and relocating to Charleston SC and thus become another of the Half Back population. No jest intended – Half Backers – are folks who decided being located half way back up the coast from Florida would be geographically preferred, not as Hot/Humid and not as congested.
So if a second home purchase – to a warmer climate is a future consideration for you please do not overlook Charleston SC. You can view Charleston SC Homes online and if you just decide to visit I promise you will be impressed with the people, food, beaches, golf, historic homes and so much more. I welcome your thoughts, comments and questions; please contact Heather Lord anytime to learn more about Charleston SC and life in the “ Lowcountry.”