If you’ve ever taken time to read the Wikipedia blurb for Charleston, you’ll see that it makes a number of cultural references. Within the description of cobblestone streets and horse drawn carriages, it notes the area’s “pastel antebellum houses” which are particularly prominent in the French Quarter and Battery districts. Anyone that lives in Charleston or has visited will know Rainbow Row. The line of Georgian houses north of Tradd St. are iconic and hark back to bygone era. Today, those properties still attract tourists but what about the rest of the city? How easy is it to buy a house in Charleston and how can you climb the property ladder up to these iconic properties?
The Internet of Property Things
Well, thanks to the internet, it’s getting easier to get your financial affairs in order and find the ideal property. That doesn’t necessarily mean it’s easier to obtain a mortgage. However, there are plenty of tools out there to help you find homes for sale and maximize your budget. For example, Zillow will tell you that the average value of homes in Charleston is $361,907., as of 2021. That’s an increase of 6.9% on 2020. This figure is seasonally adjusted and only includes middle-tier homes in the city. However, it provides a starting point from which you can assess your own chances of being about to buy and, moreover, what the market has to offer. Once you’ve established a baseline, you can use an online calculator to ascertain how much a bank will lend you.
Mortgage broker Trussle provides an easy to use mortgage calculator which can help you learn about more about what you can afford. This tells you what you could potentially borrow based on your income, without going to a bank. Using a calculator like this is good for two reasons. Firstly, it’s convenient and saves you time. If you see a property that’s $400,000, a quick calculation will let you know whether it’s in your ballpark or not. Secondly, it means you don’t have to use a lender unnecessarily. Each time a lender carries out an affordability check, it goes on your credit file. Too many of these can have a negative impact on your score. Therefore, if you can get a rough idea of what you can borrow by using an online calculator, you can reduce the impact of credit searches.
Small Steps Towards Bigger Goals
The final digital innovations that can help you become a homeowner are savings apps. Products such as Mint and BillTracker allow you to save more effectively and streamline your outgoings. Of course, there’s no replacement for discipline and consistency when it comes to saving for a house. However, apps like Mint make it a lot easier to create budgets, monitor your income, track spending, and watch your credit score.
When you have a goal in mind (i.e. a house), you have to take small steps to reach that goal. Spending trackers and savings apps let you create those steps. Getting your foot on the property ladder isn’t easy but rarely do people go from the ground floor to the penthouse in one leap. If you’ve ever walked down Rainbow Row and dreamed of owning one of those houses, you need to take small steps. That’s where the internet and its many wonderful tools can help you start your property journey.
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