Kiawah Island, SC for 2nd property

[Anonymous]

Anyone knowledgeable about owning a home on Kiawah Island? Through an unusual and unexpected inheritance, my sister & I will likely have a house there soon. Not even sure what questions to think about. We both can afford the upkeep of the place and could each get there a couple times a year. Maybe that’s enough.

[Anonymous]

Love Kiawah. I know nothing about owning a home there, but happy to rent yours

[Anonymous]

As long as you can rent it out, it is a lovely place to visit a few times per year! I know one family who likes to use theirs for Thanksgiving, which sounds so appealing to me. Summers are HOT. And there are southern bugs. But a lovely inheritance!

[Anonymous]

I would sell it. Climate change is going to ruin it.

[Anonymous]

Anonymous wrote:I would sell it. Climate change is going to ruin it.

I kind of agree. I would not be buying coastal property. Maybe 20 years ago, but not now.

[Anonymous]

I just sold a beach condo in South Florida I inherited. It was very difficult to sell even with it being across the road from Atlantic Ocean with private beach access. It became a money pit with all the assessments of living in an HOA community. If I were you and your sister, I’d sell sooner than later. We waited 4 years after my mom died and it was the most stressful real estate experience I have had and I’ve done many real estate transactions in an affluent area. I could never imagine it taking over a year to sell a luxury property, which sold for under $500K. We went in thinking we could get $600K and the property just sat. It is a tremendous relief to be done and have that money sitting in a managed brokerage account.

[Anonymous]

for the people worried about climate change, how are properties in areas in south central Florida going to be affected? Will all the lakes get bigger or not be affected?

[Anonymous]

I agree about climate change. I grew up in that area and think regularly about buying a place there to be close to friends and family, but I really do worry about flooding and hurricanes, and it just getting hotter and hotter. It was always blistering there.

On top of that, Kiawah is hard to get to, even from Charleston. So it would never be more than an occasional thing for you. The prudent thing to do is figure out how much for upkeep, and then divide that by how many times per year you'll get there, and figure out if it is worth it vs renting and being able to go different places.

Finally, I like Kiawah, but it doesn't really have a "culture" or interesting history. It's just a beach/golf community, like many others up and down the coast. If you had an old Victorian beach house on Sullivan's Island, I might have a different view.

[Anonymous]

I inherited a beach house near there but the costs are pretty low and there's huge emotional attachment so we kept it. I think if I were being ruthless about it we would have priced it very low and sold it immediately. It's much less fun to fly to a beach house and deal with a rental car and the drive is too far to make it worthwhile for short trips. Thinking about how much the beach has eroded since my youth, it's almost certainly not a good long term investment. I wonder even if my kids will be able to enjoy it.

[Anonymous]

Just chiming in to say I love Kiawah. We have been going there for years. Mostly summer beach visits when it is super hot! I love everything about Kiawah, but I don't think I would have a house there. I always read that you should own a second home within a hour's drive of your primary home. But if I had endless money and a job that let me visit Kiawah every weekend, I would do it!

[Anonymous]

Anonymous wrote:

Anonymous wrote:I would sell it. Climate change is going to ruin it.

I kind of agree. I would not be buying coastal property. Maybe 20 years ago, but not now.

Where would you buy a rental/vacation hike instead?

[Anonymous]

Relatives own on Kiawah. We love it! It’s beautiful well maintained and owners are on top of preserving islands ecosystem. They monitor the dunes, etc. also simply b/c of how “tucked in” to the coast it is storms do not usually do too much damage. Been going there regularly since ‘04. Summer is hot but the ocean and beach club are great. PGA 2021 happening there. And now that JetBlue goes from dca to charleston it’s easier to get there. And Charleston airport newly remodeled. Tons of property managers there to look after house. And fair # full time residents too
so once you’re in the community you’ll make friends that can help keep eye on house for you. I’d hold on to it if you can afford it. At least for a few years.

[Anonymous]

Anonymous wrote:Relatives own on Kiawah. We love it! It’s beautiful well maintained and owners are on top of preserving islands ecosystem. They monitor the dunes, etc. also simply b/c of how “tucked in” to the coast it is storms do not usually do too much damage. Been going there regularly since ‘04. Summer is hot but the ocean and beach club are great. PGA 2021 happening there. And now that JetBlue goes from dca to charleston it’s easier to get there. And Charleston airport newly remodeled. Tons of property managers there to look after house. And fair # full time residents too
so once you’re in the community you’ll make friends that can help keep eye on house for you. I’d hold on to it if you can afford it. At least for a few years.

Thanks for this. I hear the pps but we’re thinking we have this house and we can afford to keep it and keep it up. Interesting to think about storms and erosion, etc.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I would sell it. Climate change is going to ruin it.

I kind of agree. I would not be buying coastal property. Maybe 20 years ago, but not now.

Sell it and invest in some index stocks. Also consider posting on the Money and Finance board.

[Anonymous]

Private Wealth Advsior here: great investment property, as Kiawah has more year round rentals (as opposed to Florida). Akers Ellis and Sweet grass are good rental/mamagemet companies. Ignore the climate changers.