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Top 3 Beaufort SC Real Estate Investment Opportunities
In the town of Beaufort South Carolina, three areas immediately come to mind as the areas best investment opportunities. Because Beaufort is perhaps the last remaining South Carolina coastal town in which development has not completely taken hold. If history is a window to the future, the unprecedented development of Myrtle Beach, Mt. Pleasant, Charleston, Bluffton, and Hilton Head hints that it is only a matter of time until an influx of people, businesses, and homes hits this sleepy town.
It's believed that the start of prosperity had already begun until the country's economic slowdown. While at a snails pace now, the economy will rebound as it always has before. With the future of large scale growth very probable, investors will start to narrow down area with the greatest potential for profit. As individuals and companies alike focus in on Beaufort SC, they will likely become trained on three areas: the downtown Beaufort Historic District, commercial property on the Robert Smalls Parkway corridor, and acreage/waterfront property on St. Helena Island top the list of best investment real estate in the Beaufort South Carolina area.
Historic Downtown Beaufort SC is home to a unique area which lends itself to be a top investment area in the near future. The preservation of so many historic dwellings in downtown Beaufort makes the housing market extremely diverse to the buyer. Homes include large stately homes from the 1800's, carriage houses turned into single family residences, townhomes from the 1700's and homes built in the early 1900's. Homes and neighborhoods are charming, with wrought iron gates, courtyard gardens and live-oak lined streets. Culture which includes horse drawn carriages that clippity-clop past grand homes, offices, shops, and upscale restaurants makes this market very desirable.
What makes the future investment in downtown so great are so great are the underway improvements to an area with so many already in-place advantages. Current project underway include the Bladen St. revitalization project and the Boundary St. Municipal project. Bladen St. has now been upgrades with new street lamps, freshly paved asphalt, and beautiful new sidewalks. The new Municipal buildings on Boundary Street are in the various construction phases to be completed by the end of 2009. The ascetic improvements are already evident. These improvements will propel home renovations, nicer homes to be built, and an overall rise in property value. Improvements like the one on Bladen Street are planned for the remainder of downtown, which will greatly improve the already desirable area. Since similar improvements in Charleston SC were completed in the 1990s, home vales have more than doubled. Expectation for downtown Beaufort SC are high, and rightfully so.
The next Beaufort SC real estate area which could see large property value increases in coming years is the commercial corridor of Robert Smalls Parkway. Anchored by the Cross Creek Shopping Center featuring a Super Center Wal-Mart, this commercial district is on the verge of exploding. In just the past 12 months Bojangles, Arby's, Sake House, International House of Pancakes, Jersey Mikes, and other national retailers have opened their doors. Citing the Beaufort County Association of Realtors Multiple Listing Service, several hundred undeveloped acres are currently for sale along the parkway. While no area is a sure thing, commercial real estate in this area is one of Beaufort's best investment areas.
The final area for great investment potential in Beaufort is waterfront property on St. Helena Island. Rural and for the most part undeveloped, St. Helena Island has oceanfront, riverfront, and tidal creek lots. With a buyer able to purchase an acre on deep water in the $300,000 range, property here is a great deal. Waterfront lots on St. Helena are often less than half the price as comparable lots in Charleston, Hilton Head, Bluffton or Mt. Pleasant. Is development coming to the St. Helena Island? You bet. Located directly between the oceanfront resorts of Fripp and Harbor Islands and Lady's Island, the centralized location leaves no doubt. The biggest question is how long an investor will have to wait to turn a profit here. The answer depends on your age. An educated estimate would say five years. For investors who are at or nearing retirement age, this might not be your cup of tea. For everyone else, St. Helena waterfront lots are a sure bet for substantial growth in value.
Regardless if Downtown Beaufort, the Robert Smalls commercial corridor, or waterfront land on St. Helena Island, these investment areas are an investors best bet when it comes to investing in the Beaufort SC area.