If you’re moving to Charleston—or even if you’ve lived here a while—one of the most helpful mindset shifts is this:
The cost to buy a home is a “stack” of numbers, not a single number.
Yes, the purchase price is the headline. But your real budget includes (1) cash needed upfront, (2) monthly payment realities, and (3) coastal-market variables like insurance and flood exposure.
Let’s walk through it in a way that actually matches how buyers experience it.
1) Home price: Charleston isn’t one market
Charleston pricing depends heavily on where you mean.
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City-of-Charleston market trackers recently show median sale prices around the $600K+ range.
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The broader Charleston Trident MLS market (which covers a wider region and property mix) reported a median sales price of $434,020 for December 2025.
That spread is why relocation buyers sometimes feel whiplash. A “Charleston address” can mean a historic peninsula home, a West Ashley starter home, a Park Circle bungalow, a Johns Island property with land, or a newer build further out in Summerville—each with its own price curve.
2) Down payment: your lever for payment and competitiveness
Down payment depends on loan type and goals. Some buyers choose minimal down to keep cash for renovations or reserves; others put more down to lower the payment and strengthen their offer.
As a practical planning point, many buyers think in bands:
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3%–5% down (some conventional programs)
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10%–20% down (common for stronger offers and lower monthly payments)
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Cash / large down (often seen with second-home or relocation buyers)
3) Closing costs: lender + attorney/title + escrows
South Carolina has two state-specific realities that affect closing:
A) Closings are attorney-supervised in South Carolina
South Carolina requires an attorney to oversee real estate closings.
So your “closing costs” often include attorney/title settlement work that some other states handle differently.
B) Deed recording fee exists (and is often negotiated in the contract)
South Carolina’s deed recording fee is $1.85 per $500 of realty value.
In many deals, this is treated as a seller-side cost, but it’s a real number buyers should understand because it can be negotiated depending on terms.
What about “average closing costs”?
A statewide snapshot from Bankrate (2025) lists South Carolina average closing costs at $2,883 (0.65%), but this kind of estimate often doesn’t reflect the full picture of prepaid escrows, insurance, and loan structure differences—so treat it as a baseline reference, not a promise.
In real life, your lender’s Loan Estimate is the document that matters most—and it will vary based on loan type, points, and the timing of your closing (because prepaids change).
4) Inspections: where Charleston buyers spend wisely
Most buyers in Charleston budget for:
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General home inspection
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Termite/WDO inspection (very common in humid/coastal markets)
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Specialty checks as needed (roof, HVAC, sewer/septic, structural)
The key is not “buy every inspection.” It’s: buy the inspections that match the home’s age, construction type, and risk profile.
5) Property taxes: the 4% vs 6% rule buyers need to know
South Carolina property taxes hinge on whether the home is your primary legal residence.
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Charleston County’s estimator references 4% assessment for a primary residence (legal residence) and 6% for non-primary residence/other real property.
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The SC Department of Revenue also explains the “legal residence” 4% assessment concept.
This matters a lot for second-home buyers and investors—because taxes can look very different than what an owner-occupant pays.
6) Insurance: the coastal line item you should price early
Charleston insurance shopping can be straightforward in some areas and more complex in others—especially depending on flood zone, elevation, and proximity to water. Even when flood insurance isn’t required, many buyers still like to quote it for peace of mind.
Conclusion: a simple Charleston buying budget mindset
If you’re planning to buy in Charleston, think in three buckets:
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Cash to close (down payment + closing costs + prepaids)
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Due diligence (inspections and early quotes for insurance/taxes)
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Reserves (because every home has a “first-year list,” even new construction)
If you plan that way, you don’t just buy a house—you buy with confidence.
By: Dustin Guthrie, Realtor
📞 Call/Text (843) 697-7757
📧 [email protected]
📸 Instagram @dustin_guthrie_realtor
