If, for example, a couple living in Kingston, RI, spends a total of $100,000 per year on all their living expenses, they would save $35,000 by moving to Georgetown, SC, conveniently located between Myrtle Beach and Charleston.
Savannah Lakes Village's Excellent Year
Sales at Savannah Lakes Village in McCormick, SC, were up almost across the board last year. That performance reflected sales in many of the other golf communities we follow. See related notes in the accompanying sidebar.
I’ve written many times that Savannah Lakes Village offers pretty much the best bargains in golf community living, with two interesting and challenging golf courses and extremely low fees for the amenities on offer. Our real estate pro in town, Michael Sherard, reports that in 2016 his agency sold 72 homes in the Lake Thurmond community, including 10 with golf course views and 18 on the lake. Average sales price increased nearly 6% to a still reasonable $206,736. Interestingly, that was almost precisely the average cost of a golf view home that sold last year. Waterfront homes averaged $319,000 per sale, quite a premium over other locations in Savannah Lakes but still way below the $1 million plus paid for lakefront homes in communities considered more “upscale” than Savannah Lakes. Lot sales for 2016 almost doubled over 2015’s numbers, with a surprising 46 sold. As an endnote, I think Savannah Lakes’ experience in 2016 is a harbinger of what very well could happen in golf communities across the Southeast. Contact me if you would like an introduction to Michael Sherard and Savannah Lakes or to any of the fine golf communities we follow.