10 Reasons We Love Buying Land in South Carolina

South Carolina's diverse landscape and thriving real estate market make it an attractive destination for land buyers. With over 19 million acres of land in the state, opportunities abound for those seeking to invest in raw land. According to the USDA's 2022 Land Values Summary, the average value of farm real estate in South Carolina increased by 8.8% from 2021 to 2022, reaching $3,900 per acre. This upward trend, coupled with the state's 5 million acres of timberland generating $21.2 billion in economic impact annually (as reported by the South Carolina Forestry Commission), highlights the potential for both agricultural and timber investments. Whether you're dreaming of a rural retreat, planning a commercial venture, or looking for a solid investment, South Carolina offers compelling reasons to consider buying land in the Palmetto State.

10 Reasons to Buy Land in South Carolina

1. Fast-Growing Economy and Infrastructure

South Carolina features a diverse, expanding economy grounded in manufacturing, tourism, agriculture, and technology among other industries. Major corporations like Boeing, BMW, Michelin, and Volvo have large operations in the state, especially around growth centers like Charleston, Columbia, Greenville and Spartanburg. Automotive manufacturing alone provides over 30,000 jobs for South Carolinians and generates billions a year for the state's economy.

In addition to automotive, South Carolina also has a thriving aerospace cluster with over 300 aerospace companies operating in the state including Boeing, Lockheed Martin, GE Aviation, and more. These high-tech manufacturing sectors rely on suitable infrastructure to function efficiently, which state leadership continues prioritizing through highway expansions, port enhancements, 5G connectivity investments, and other critical projects.

Savvy investors recognize the opportunity in buying undeveloped land early in rapidly developing areas as economic expansion and infrastructure improvements are planned years in advance. Early acquisition allows buyers to get in before values start rising steeply once construction nears the area. Proper due diligence is required to identify potential growth corridors based on economic development plans and infrastructure initiatives already in motion.

2. No State Income Tax

Unlike most states, South Carolina does not levy a state income tax on individuals or businesses. At the state level, revenue instead comes primarily from sales taxes which remain moderately low compared to neighboring states. This tax advantage allows both residents and companies to keep more of their hard-earned income. For land buyers looking to reside in South Carolina full-time or purchase investment land, the lack of income tax is a definite benefit that keeps more money in their pockets and makes owning property here that much more affordable.

3. Low Property Taxes

In addition to no personal income tax, South Carolina offers property tax rates below the national average. According to the Tax Foundation, South Carolina has the 15th lowest mean effective property tax rate in the U.S. Specific tax levels vary somewhat by county and municipality, but landowners here enjoy lower annual tax bills than nearby states which saves buyers many thousands of dollars over the duration of ownership. For instance, the mean property tax in Georgia comes to $1,731 per year compared to just $1,054 per year across the border in South Carolina.

4. Premier Tourism Industry

From Hilton Head Island to the Grand Strand, South Carolina lays claim to some of the East Coast’s most popular beach vacation destinations that attract over 20 million visitors per year. Top attractions like Myrtle Beach, Charleston Harbor, and Hilton Head draw substantial tourism traffic thanks to gorgeous sandy shores, championship golf courses, elite restaurants, amusement parks and more. The Grand Strand alone contains over 100 golf courses that host thousands of players annually.

All that tourism pumps billions of dollars into local South Carolina economies by filling up hotels, resorts, retail shops, restaurants, and entertainment venues. Strong hospitality and recreation industries serve as added incentive for investors and developers to buy land to build more hotels, condominiums, shops and restaurants to meet persistent tourist demand. New tourism infrastructure furthers county tax bases and property values.

5. Mild Climate

Although South Carolina can get rather hot and humid during summer, the state enjoys a predominantly mild climate the rest of the year. Winter lows rarely drop below freezing for any length of time even in the northernmost cities, while spring and fall offer optimal weather for golf, fishing, hiking and outdoor festivals across the state. For northerners especially, the temperate climate increases South Carolina’s desirability for second homes or retirement relocation.

Even during summer, much of the state remains reasonably comfortable being near the ocean or at slightly higher inland elevations. Homeowners can still enjoy outdoor living nearly year-round. And for sun-seekers, hot summer weather means prime beach trip conditions where water temperatures climb to the 80s by June. So for those who thrive in warmer conditions, South Carolina climate aligns perfectly with an enviable lifestyle.

6. Accessible Air and Highway Transportation

Between Interstates 20, 26, 85 and 95 plus expanding airports, South Carolina makes for easy accessibility within the state as well as connectivity to major cities countrywide. International airports in Charleston, Columbia, Greenville and Myrtle Beach offer hundreds of daily nonstop flights to prominent domestic hubs as well as direct international routes like Munich, Germany and Toronto, Canada during peak season.

Further, the efficient transportation network permits smooth commerce that powers continued population and economic growth. South Carolina’s 2020 population of 5.1 million is expected to rise by over 400,000 new residents within the next 5 years. Developing infrastructure links help facilitate and prepare for this influx. The reliable transit options and expanding roadways bode well for increasing future property values around planned connections.

7. Job Market Growth Across Industries

Booming industry sectors like manufacturing, healthcare, hospitality and professional services are generating fresh career opportunities across South Carolina. Advanced manufacturing accounts for around 18% of total statewide employment. With aerospace giant Boeing expanding operations in Charleston plus automakers like Volvo and Mercedes-Benz recently opening new plants in the region, skilled manufacturing jobs continue growing steadily.

Additionally, the state’s increasing retirement population requires greater healthcare services also spelling jobs in medical, research and elderly care fields. And tourism sustains nearly 250,000 industry jobs, especially along coastal counties. For home buyers who need reliable local employment, the Palmetto State delivers a strong jobs outlook relative to its Southeastern neighbors making it attractive to working professionals.

8. Southern Charm and Hospitality

South Carolina is famed for its charming port cities brimming with cobblestone streets, horse carriages, heirloom gardens, stately antebellum mansions and relaxing public parks steeped in centuries of history. Coastal communities especially encapsulate the quintessential hospitable Southern vibe characterized by front porch sitting, sweet tea sipping and storytelling that newcomers find rather endearing.

Locals also pride themselves on always lending a helping hand whether through church groups, school events or civic organizations. For those moving to South Carolina full time, these communal aspects enhance day-to-day living in the state through fellowship activities and regional traditions. And tourists adore the authentic hospitality!

9. Access to Beaches and Waterways

From the sea islands of Charleston to the Grand Strand’s 60-mile strip of gorgeous beaches, coastal living represents a leading draw for South Carolina. Hilton Head Island alone contains over 250 tennis courts and dozens of elite golf courses for the sports-minded to enjoy year-round. Those seeking peace and relaxation have their pick of picturesque beaches and resorts whether along the surprisingly quaint shores of massively popular Myrtle Beach or on quieter barrier islands like Kiawah.

Inland, Lake Murray provides over 500 miles of freshwater shoreline and watersports through the Columbia area while Lake Marion lets Low country visitors experience the rustic country joys of camping, fishing and boating just an hour from the coast. Given humans’ innate affinity for water access, owning property near South Carolina’s shimmering shores or recreational lakes holds powerful, widespread appeal.

10. Growing Retirement Destination

With senior relocation on the rise nationally, low-tax South Carolina rates as an increasingly popular landing spot thanks in part to the sunny climate, coastal access and vibrant cities with plentiful amenities. The state welcomes over 60,000 new residents annually as baby boomers cash out of pricey Northern cities in favor of comfortable, affordable Southern living. Regionally, only Florida draws more retirees.

Retirees still seeking partial income can also capitalize on tourism, healthcare and construction industry jobs in South Carolina’s flourishing urban economies to subsidize relocation. Plus age-qualified communities with resort style amenities cater to this lucrative demographic. For aging Americans, owning real estate in the Palmetto State aligns with an enjoyable lifestyle at an affordable cost making South Carolina a go-to retirement choice.

As you can see, purchasing land in the Palmetto State promises short and long term rewards through South Carolina’s strengthening economy and job outlook, advantageous tax structure, alluring climate, community hospitality and geography. We hope these ten reasons shed light on why more people and businesses are choosing to buy and invest in South Carolina real estate year after year thereby driving up demand. With savvy research and financial planning, you too could stake your claim in America’s flourishing Southeastern jewel.

Final Thoughts

Plentiful beaches, marshy sea islands, and forested sand hills; sophisticated historic cities and laidback country living; low taxes and comfortable weather. South Carolina presents a diversity of landscapes and lifestyles woven into the fabric of traditional Southern charm and modern opportunity alike. Attractive geography, an early history steeped in fame and infamy, and regional economic ascendance - the Palmetto State now shines as a lucrative hub for tourism, manufacturing, and retirement migration. Yet beneath the peach trees and live oaks, small town fall fairs and lively urban epicenters, the rhythms of rural farm life endure as testament to the state’s varied past and future trajectory. For investors and second-homers, South Carolina offers many dynamic locations to settle in as a resident or base seasonal vacations from the Low country coastline to Midlands lakefront. The reasons to love living here convince growing numbers to buy land year after year as the local population steadily rises. From eclectic cultural traditions to vigorous business development, those looking to own a piece of authentic, affordable Southern appeal need look no further than South Carolina real estate.

Frequently Asked Questions (FAQs)

What parts of South Carolina are most popular for buying land?

The coastal regions around Charleston, Myrtle Beach, Hilton Head Island, and Beaufort tend to attract the highest demand for land purchases due to the scenic beaches, booming tourism opportunities, and large numbers of retiree transplants. Inland, the Greenville-Spartanburg area, Columbia metropolitan region, and Lake Greenwood/Lake Murray country are also development hotspots.

Does it make more sense financially to buy land or an existing property?

In faster growing areas, buying vacant land early in expanding suburbs or economic development zones offers more appreciation potential before infrastructure improvements raise values. But established properties with cash flow like rentals can provide owners with more consistent passive income that helps finance the purchase. So optimal strategy depends on individual investor objectives and risk tolerance.

What factors should I research before purchasing land in South Carolina?

Carefully analyze county growth blueprints, infrastructure projects in planning stages, recent population and job trends, Tax rates, crime rates schools, zoning restrictions, flood zones, transportation access, nearby amenities, protection of adjacent lands, and more to gauge an area’s investment outlook. Touring the specific neighborhood and chatting with local real estate professionals helps further evaluate viability.

Can out-of-state buyers purchase South Carolina land without difficulty?

Out-of-state buyers and investors face no restrictions purchasing South Carolina property. The state allows e-closings and smooth digital title transfers facilitating land deals for non-residents. Investors do need an Employer Identification Number to buy land in a business name rather than personal. Some financing options cater specifically to remote real estate investors as well.

Besides financial returns, what lifestyle perks come with owning land in South Carolina?

Buyers often acquire land here to build dream retirement homes or vacation getaways. South Carolina enables access to beaches, lakes, golf, fishing, hunting, historical attractions and outdoor recreation year-round thanks to favorable climate and geography. The slow-paced culture also appeals greatly to Northerners and Midwesterners. Beyond numbers on paper, owning property unlocks the South Carolina state of mind!

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