Pros and Cons: Aiken, SC and Augusta, GA

Trying to decide whether South Carolina or Georgia has the best quality of life, lowest taxes, most attractive amenities, or maybe better cost of living index?

Let us help you decide for yourself.

 

Let’s start with the Aiken side of the Savannah River…Aiken County with an estimated population of over 171,000 in 2023.

It’s a very large county … 1,081 square miles.

 

On the other side of the river here is Augusta; specifically Richmond County which has a population of over 208,000in 2023.

The county is approx. 329 square miles; which is much smaller in size when compared to Aiken County but has a higher population.

These two areas are the biggest counties in Central Savannah River Area or the CSRA as the locals call it… We promise to explain [the CSRA] in an upcoming video which makes this the perfect time to subscribe to our YouTube channel by hitting the bell!

Back over here in Georgia, Columbia County is a very close third with an estimated population of over 165,000 in 2023, its size is 308 sq miles and one of the fastest growing counties in Georgia.

Interestingly when you combine both those counties in Georgia, they are still less in size than Aiken County but more than double the population.  

Let’s compare TAXES. 

So, which state has the lower taxes South Carolina or Georgia?

 

We went to WalletHUB for this information. Per a WalletHub article dated March 2023 called: 2023’s Tax Burden by State https://wallethub.com/edu/states-with-highest-lowest-tax-burden/20494?utm_source=emailshare

Georgia was slightly higher with a tax burden of [7.46%] while South Carolina was [7.44 %]. This extremely close, pretty much the same. BTW…To determine this information Wallet Hub compared 50 states across the three tax types of state tax burdens.

1.     property taxes

2.     individual income taxes

3.     sales and excise taxes

Let’s take a deeper dive into this data. What about personal property taxes?

Back to WalletHUB

2023's Property Taxes by State https://wallethub.com/edu/states-with-the-highest-and-lowest-property-taxes/11585

SC was lower per this report remarkably. It ranked #5 for lowest and Georgia was 25th out of 51 states. Remember, taxes are unique to each person or family.  It is best to have a CPA look at your personal tax situation to determine exactly what is best for you.

Look for our upcoming, fun video… the battle of “lifestyles” between the areas.

It’s a big decision, we know. We’re here to help!

 

Brandi Cook + Vikki Crossland

803.645.3325 | info@aikenhomes.com

Meybohm Real Estate

 

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Five Things that Can Affect the Value of Your Home

Have you ever wondered how the value of your home could be impacted by a recent property sale? Here are 5 things that may impact your property value.

1. Condition & Code

Some homes are move-in ready now, while other properties may need a lot of TLC. This extra work can be costly and time-consuming, which is why a well-kept home may have a higher value than a property that needs maintenance. Keeping up with necessary repairs and upgrades, such as adding new exterior paint, replacing an old fence, or re-staining the porch, code compliant will keep your home in good condition and help it retain or increase in value over time.

2. Size

Square footage is often a major factor in a home’s value. A larger home with more livable space is typically worth more than a comparable smaller home within the same market.

Keep in mind that while adding square footage can boost property value, there may be a limit. Important to know is that some square footage has a different value. For example, a finished sunroom without heat/air may is not counted the same as a sunroom with a heat/air system. There are some subtle nuances to be aware of.

3. Location

One thing everybody has heard about property value is location, location, location. Even a block away can make a difference depending on the property’s location. The home’s placement on the lot, accessibility and usability can impact value. The local zoning and historic overlays of some areas can have restrictions on remodeling or building that can make an impact on the property’s value.

4. Amenities

Home improvements, like a fenced-in backyard, home office, newer kitchen appliances, swimming pool, improved curb appeal or a finished basement can help increase how much a home is worth.

It’s worth doing a little research to choose your upgrades to get the best ROI (return on investment) to boost your home’s value. We can help you determine the best home improvements for your home since each property is unique. 

Supply and demand, one of the primary drivers, can shift over time. The housing market affects property value, and it can change due to local, state, and federal influences, such as inflation or whether mortgage interest rates are favorable.

Some of the reasons for property value changes may include the average inventory of homes available to purchase in a given market, foreclosure rates, the supply of local jobs, the relationship to job markets within commuting distances, or regional growth or stagnation.

5.) Comparable sales

Comparables, aka "comps," are similar homes nearby that have recently sold. Homes considered comparable are ideally around the same size and age with similar amenities, like the same number of bedrooms and bathrooms. Appraisers will add or subtract to the subject value for square footage, features, conditions and lot characteristics of a home to make the home as comparable to your home with these adjustments.

Knowing the factors that increase and reduce a home’s value can help you avoid investing more than a home is worth, while understanding the key features, most popular upgrades and condition make a home most attractive to more buyers thus selling for top pricing.

Whether you are curious about how much your home may be worth or know what are smart improvements to consider, speaking with a local experienced real estate agent team can be a great starting point. Vikki Crossland and Brandi Cook of Meybohm recognize your home is your biggest investment and the value of home ownership. It is a big decision and we are here to help you with their generation of REAL experience.

Brandi Cook + Vikki Crossland

803.645.3325 | info@aikenhomes.com

Meybohm Real Estate

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Funny Farm Mustangs-Brian Smith, Non-Profit Charity, Aiken, SC

This week Brandi and Vikki sit down with Brian Smith, of Funny Farm Mustangs to discuss what their non-profit does for mustangs and burros and why. This is an interesting subject that maybe a few of you didn't know about. Let us know what you think in the comments below!

You can learn more about Funny Farm Mustang's mission and how to help at https://funnyfarmmustangs.org/

Brandi Cook + Vikki Crossland

803.645.3325 | info@aikenhomes.com

Meybohm Real Estate

#thesearchisover #aikenhomesteam #meybohmrealestate #theplacetobe #wildhorses #burros #mustangs #funnyfarmmustangs #aikensc #weeklyvideo #horsecountry #thoroughbredcountry #horsinaround #nonprofit #charity #themoreyouknow #itsabigdecision #weknow #heretohelp #Responsive #Experienced #Authentic #Loyal #generationsofREALservice #yourhomeyourlifestyleyourteam

Seven Tips When Buying a Home with a Pool

Dreaming of relaxing on a floaty with a margarita in your own back yard retreat? There are definitely some benefits of owning a pool BUT it does involve some effort, as well as ongoing expenses. Here are 7 tips to consider BEFORE you make an offer on that home with a pool

 

1.      What equipment goes with the pool?

 

Before you write your offer with your real estate agent, know what goes with the pool. Do not Assume anything. We know how that ends.

I’m going to share a story we experienced last summer. More and more homeowners are using “dolphin” robotic cleaners that are portable, plug in to outdoor electrical outlets and are NOT built into the pool system or structure.  Cost of these vary $900-1500 depending on the model. Homeowners were wanting to keep these portable robotic cleaners, since they are not technically a real estate “fixture”. It is very easy for a buyer to assume they stay with the home BUT actually can be excluded from the sale since considered personal property.

Bonus tip:  List clearly on your purchase contract all the pool equipment that may be remotely considered personal property. It would be tough day to buy a home and find out you do not have a way to clean your pool.

To understand the definition of a fixture, go to this previous video https://youtu.be/QsLPdX9yuEw  which explains what is considered a “fixture” in real estate.

 

2.      Get the history and specifics of the pool

 

Ask questions!  When was the pool installed and by who? What maintenance or repairs have been done over the years? What type of pool for example, vinyl liner, gunite or acrylic? Is it chlorine or a salt water system? How deep is the pool and what is included? Who has been maintaining the pool? How often they have to add water to maintain the level of the pool? This will give you valuable information. Understand if the pool is older the current homeowner may not have all the answers but find out what you can which leads into #3.

 

3.      Pool Inspection

 

Hire a licensed and qualified pool inspector during your “due diligence period” if you have a ratified contract to understand the condition of the pool and its system. This is your time to know what you are buying or to potentially negotiate needed repairs.

 

4.      Memories and fun for the whole family

 

Owning a swimming pool means summers filled with splashing, laughing, and making memories together — all in the comfort of your own backyard. People love hanging out poolside. Is this something you would enjoy and find value in?  If so, a pool probably is perfect for you.

 

5.      Insuring and safety

 

Understand the additional cost, liability and responsibility when owning a pool before you buy a home with one.  For example, your insurance agency may have a list of requirement items before they will provide insurance. Know this within your due diligence period to be aware of any additional costs, if any. Pool safety is important. It’s a great opportunity to teach yourself, family, and friends the importance of water safety and a smart idea to get certified in CPR even if you do not have pool. A pool safety fencing may be required in some communities, which often reduces your insurance and your risks.

 

6.      Know YOUR cost to maintain your pool

 

Utility costs will be higher when you own a pool. Consider the additional monthly electric and water bills also gas, if you have a heated pool. Will you be doing the routine maintenance or will you hire someone? What are the cost of the chemicals needed to keep the pool sparkling clean and PH balanced? To me this is like yard maintenance; are you going to do cut and fertilize your grass or hire a company to handle for you? Just know to budget for the extra cost.

 

7.      Health benefits

 

Swimming can improve cardiovascular health, flexibility, and overall physical and mental well-being and your general quality of life. Buying a house with a pool comes with some great perks. Pool owners have access to their private swimming pool to enjoy whenever they wish. Some say it feels like a vacation any day of the week.

 

Considering buying a home with or without a pool? We would be love to be the entrusted real estate team who guides you through the process of homeownership whether it be the Aiken, SC or Augusta, Georgia area. It’s a big decision we know and we’re here to help.

 

Brandi Cook + Vikki Crossland

803.645.3325 | info@aikenhomes.com

Meybohm Real Estate

 

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Ask us about our Military on the Move [MOM] program

Ask us about our Military on the Move [MOM] program [which is also available to our first responders]! We are grateful to have the chance to help those who help others 🏡🪖🚒🚑🚓

Brandi Cook + Vikki Crossland
803.645.3325 | info@aikenhomes.com
Meybohm Real Estate

#thesearchisover #aikenhomesteam #meybohmrealestate #theplacetobe #aikensc #augustaga #csra #realestate #firstresponders #militaryonthemove #MOM #thankyouforyourservice #itsabigdecision #weknow #heretohelp #Responsive #Experienced #Authentic #Loyal #generationsofREALservice #yourhomeyourlifestyleyourteam

 

Local Business Spotlight: What's Coming Soon to Aiken, SC?

RHUMBA- Rum & Cigar Lounge!

Taking a stroll through beautiful Downtown Aiken one day and we saw a sign! "Coming Soon- Rhumba Rum & Cigar Lounge. Follow our Instagram for more", so we did just that! So glad we did and were able to get a sneak peek at this new business coming soon to Downtown Aiken [321 Richland Ave W] with its owners, Elier and Jessica Alberto.

Brandi Cook + Vikki Crossland

803.645.3325 | info@aikenhomes.com

Meybohm Real Estate

#thesearchisover #aikenhomesteam #meybohmrealestate #aikensc #theplacetobe #rhumbaaiken #comingsoon #newnew #rum #cigars #businessspotlight #local #aikenrealestate #staytuned #weeklyvideo #csra #realestate #rumandcigar #lounge #brandiandvikki #aikenrealestate #itsabigdecision #weknow #heretohelp #Responsive #Experienced #Authentic #Loyal #generationsofREALservice #yourhomeyourlifestyleyourteam

Higher Interest Rates May be the Help You Need

Like opening and closing a faucet increases and decreases the water flow, lowering interest rates increases home sales and raising interest rates decreases home sales.

When home sales increase during periods of limited inventory, demand increases and prices go up.  Contrarily, when home sales decrease, demand could lessen and prices moderate. 

There is opportunity with higher rates because it affects sales and demand, which in turn keeps prices in check.  By waiting for rates to come down, and no one knows by how much but certainly not to the 3-4% range, buyers' pent-up demand will affect the already low supply and cause prices to increase.

Let's look at a scenario where you could buy a home today for $400,000 with a 90% loan at 6.5% for 30-years with P&I payments of $2,275.44.  If interest rates drop to 5.5% in one year but in that same period, the price goes up by 10%, the price would be $440,000 with a 90% loan at 5.5% for 30-years with P&I payments of $2,248.44.

The payment would go down by $27 a month but the price would have risen by $40,000 which would be equity of twice the down payment for the person who purchased a year earlier with a higher rate.

 

Purchase Price	Mortgage	P& I Payment	Equity EOY1
$400,000	$360,000 @ 6.5%/30 yr	$2,275.44	$84,023
$440,000	$396,000 @ 5.5%/30 yr	$2,248.44	$44,000

 

The takeaway in this example is that a person may experience more loss from unrealized equity during periods of high appreciation than waiting for a nominal drop in the interest rate.  With rates being a deterrent to buyers that have led to sales slipping 22% year over year in March 2023, sellers may be willing to negotiate.

It seems counterintuitive but higher interest rates may be the help you need to buy a home.