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Grand Architecture, an Idyllic
Setting and Southern Romance Bring Retirees to Laid-Back Beaufort, South
Carolina
Real Estate | Beaufort
Overview
Cost of Living: Meets the National Average
| Within the last twelve months,
twelve new planned communities, for all ages, have opened
in Beaufort so it is indeed a growing place; in fact,
Beaufort County is one of the fastest growing counties in
the country. There are new golf homes, waterfront
homes, large estates and wooded communities in addition to
older, historic homes and more modern, typical
single-level ranch-style homes. |
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With these new houses being built, the median
home price is now $245,000, not inexpensive but considerably
less than in many Southern coastal towns. Since
there seems to be a good inventory of homes in and under the $200,000
range, the median price seems slightly skewed, most likely
because many of the new homes are high-end properties.
Modest single family homes (1,100 square feet, 3 bedrooms and 2
baths, fenced yard, mature trees) built in the 1980s and 1990s
start in the low $160,000s. A very nice, ranch-style, 3
bedroom, 2 bath home with 1,600 feet can be had for
$210,000.
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As for master planned communities, Picket Fences is a lovely
70-acre site with waterfront views; 1,200 square foot homes start
in the mid-200,000s. At the other end of the
scale, Spring Island is a private 3,000-acre island with 410 homes
at completion; prices here start in the mid-$600,000s and top out
at a little more than $7 million dollars. These are not
age-restricted communities; Del Webb's Sun City, though, is
age-restricted and is just down the road in Bluffton. Here
homes start at $187,000, and many homes throughout the area come
complete with majestic oak trees draped in Spanish moss.
Rental properties are not in great supply, but the apartments
we did find run in the $550-$610 per month range for one bedroom
and $600 to $675 per month for two bedrooms.
Manufactured/mobile home communities are much more prevalent;
in fact, there are 24 of them in and around Beaufort, one of
which, Pine Oaks Mobile Home Park, is for those 55 and
above. At this writing, no mobile homes were for sale.
Property tax is $245 per $1,000 of assessed value, and homes are
assessed at 4% of appraised value. The annual taxes on a
$210,000 home would be $2,058. For homeowners 65 and above,
the state's homestead exemption allows the first $50,000 of their
property's fair market value to be exempt from local property
taxes. South Carolina has the 33rd lowest overall tax burden
in the country and is slated for a new real estate tax structure
that will further reduce permanent owners' property taxes by 50%.
Retirement income is taxed, but Social Security exempt. Under
age 65, $3,000 in pension income is exempt. At age 65,
$10,000 of pension income is exempt. After age 65, the
deduction is $15,000 for singles or $30,000 for married
couples. Military retirees with 20 or more years of active
duty can deduct up to $3,000 annually until age 65 and up to
$10,000 per year after age 65. This deduction extends
to the surviving spouse. Pension or retirement income received for
time served in the National Guard or Reserve components is not
taxable.
Beaufort,
South Carolina Overview
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