Last Updated on April 12, 2023 by Eric
House hunting near picturesque Lake Keowee in beautiful Upstate South Carolina offers more than just stunning waterfront properties. This charming region boasts countless nearby attractions and activities, from world class golf courses, to boating and fishing, to hiking the magnificent Blue Ridge Mountains, to the small town feel of Seneca and the city lights of Greenville—making it an extremely desirable location for homebuyers.
Before you start exploring real estate listings with the expert assistance of Bob Hill Realty, make sure to tick off these essential tasks to ensure a smooth and enjoyable home-buying experience:
#1 – Determine your budget.
The beautiful Lake Keowee region in upstate South Carolina boasts an array of gorgeous, well-built homes for sale, but it’s crucial to know what you can afford before getting swept up in the excitement.
While making a list of must-haves for your dream home is essential, it’s vital to have a clear understanding of your financial capabilities.
Prioritize crafting a list of desired features for your dream home while taking your financial situation into account.
Don’t commit to purchasing a home unless you can pay in cash or you are positive you can comfortably manage the mortgage payment (including any private mortgage insurance, HOA fees, property taxes, and homeowner’s insurance) without overextending yourself financially.
#2 – Review lakefront property considerations
As with buying a home on any lake, when you’re searching for your dream home along Lake Keowee’s shores, there are a number of unique aspects to consider.
Experienced Lake Keowee real estate experts can assist with this, but in the meantime, here are a few elements that are beneficial to keep in mind when house hunting for a lakefront property in Upstate South Carolina:
Property inspection:
Lakefront homes on the market can sometimes be subject to more wear and tear due to their proximity to water.
Ensure a thorough inspection is conducted, paying close attention to the foundation, signs of water damage, and any erosion control measures in place.
Water and sewage systems:
Many lakefront properties have unique water and sewage systems, such as septic tanks or wells.
Be sure to inquire about these systems, their maintenance history, and any potential concerns that could arise.
Shoreline ownership and access:
Does the home have direct water access or a dock? Familiarize yourself with local regulations and laws regarding shoreline ownership, access rights, and usage restrictions.
This information is crucial to understanding the extent of your property rights and any potential limitations.
Communities of Lake Keowee:
Additionally, each community in the Lake Keowee area will have its own rules and considerations, whether it’s Keowee Key, The Cliffs at Keowee Vineyards, The Cliffs at Keowee Springs, The Reserve, or any of the other communities in the area.
Understanding these rules and regulations will help you make informed decisions when selecting a lakefront property and ensure that your investment aligns with your lifestyle and expectations.
#3 – Save for your down payment.
A down payment of approximately 20% of the total house price is widely considered to be the ideal target to reduce the overall impact of interest and fees on your financial goals.
If this is unrealistic for you, don’t worry! Very few lenders will require that much at closing; it’s merely an “ideal world” suggestion.
Aiming for a 20% down payment allows you to benefit from better loan terms and potentially lower monthly payments.
Utilize a mortgage calculator to input your down payment amount and assess various house prices within your budget.
#4 – Secure pre-approval for a mortgage.
Although obtaining pre-approval requires some initial legwork, it streamlines the home-buying process once you find your dream home.
Including a preapproval letter with your offer signals to the seller that you’re a serious buyer, speeding up the sale.
When you’re ready to get pre-approved, connect with a trusted local mortgage lender.
#5 – Choose Bob Hill Realty for Lake Keowee real estate.
Collaborating with an experienced and knowledgeable real estate agent is invaluable when searching for homes on the market near Lake Keowee.
Bob Hill Realty of Seneca, SC offers unrivaled expertise in the Upstate “Great Lakes” region of South Carolina. Our agents can simplify the home-buying process, and help you find a fantastic Lake Keowee house for sale at a fair price. Give us a call at 864.882.0855 or click here to contact us via email.
