Last Updated on February 8, 2022 by Eric
You know you want to live on Lake Hartwell, but you aren’t sure which route to take. The real estate market is kind of crazy, and there aren’t many homes to choose from, but you don’t want the uncertainty of renting. Then, there’s always the option of building a home on Lake Hartwell, but that seems like a huge undertaking.
We know you have a big decision to make, so we thought we’d break down some of the pros and cons of each option. Let’s take a look!
Buy a Lake Hartwell Home
Pros: Buying a home of your own is a great feeling. Even though home values and interest rates have increased, buying a home is still a good idea since home values are expected to continue to rise. The population of Lake Hartwell and Anderson County is expected to grow by as much as 27% by 2040. Growth and the increase of popularity in lake life will mean that your home’s value will increase in value and give you a nice payday when it comes time to sell.
You’ll be able to enjoy many years making memories on the lake and will eventually build equity to help grow your wealth.
Cons: It’s a seller’s market, which means buyers do not have a lot of room for negotiation. You may have to compete with other home buyers, making the home more expensive. Plus, there is not a ton of inventory to choose from, so you may end up having to compromise on your wish list.
Rent a Lake Hartwell Home
Pros: Renting allows you to have flexibility. If you aren’t sure Lake Hartwell is where you want to live permanently, renting may be a good option. There are a good number of rental homes on the market at the moment, so you may have an easier time finding a home you like.
Cons: Unless you sign a long-term lease, your rental rates can increase every year. Costs associated with renting may also be higher than with buying a home. Your landlord may also decide they don’t want to renew your lease at the end of the term, which will leave you in a scramble to find a new place.
Build a Lake Hartwell Home
Pros: Building your own home from the ground up gives you the ability to customize it to suit your family’s needs. There are dozens of lots available for sale on Lake Hartwell and pre-construction homes in just about every price range.
Cons: Thanks to supply shortages, the build time on your custom home can be long. Possibly a year or two, depending on the size and complexity of the project.
Whichever route you choose, the agents at Bob Hill Realty are here to help you through the process. We can refer you to a custom home builder once we find the perfect lot to build on. If you decide to rent or buy, we can show you homes and negotiate on your behalf to help get you in on your terms. Give us a call so we can start the process!
