Murrells Inlet and the surrounding communites have seen tremendous growth in new housing for several years prior to the current slow down in new home building in the area. The lure of the new home can be strong especially for buyers who need more space and have outgrown their current property. It is important for these buyers to give strong consideration to what they are leaving behind prior to making such a move to avoid regret after their next home purchase.
Prior to the housing boom in Murrells Inlet, many of the homes were built on good sized lots in neighborhoods without HOA restrictions. As new housing options came onto the market and demand skyrocketed, builders took great advantage of building larger homes on smaller lots.
A friend recently related to me that the big new home purchase of a co-worker turns out to be one of regret. It seems the spacious new home with all the trimmings got her hooked but after living in the new neighborhood on the tiny lot in hindsight was not the best move. Walking outside in her small yard and being able to touch her neighbor was more than she bargined for when breathing room would have suited her better.
Not all home buyers need breathing room and large homes on small lots with little maintenance is the draw but if you are a buyer in the market for a new home, make sure your REALTOR® is looking out for your interest in your next home purchase. Pointing out what you are giving up for the new and advising you of the potential in your current property are good places to start. Copyright 2009, Sandra Bundy, Broker-in-Charge, B&P, Inc.
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