Unique Home Building Incentive Drives Successful Property Offering on Charleston's Daniel Island

Share Article

Daniel Island Real Estate's offering last week of 48 new homesites located on and near the Wando River has caught the attention of prospective buyers. Just five days after the release, 26 of the sites -- representing more than half of the offering -- are spoken for. The homesites are located in Old Landing, a special enclave within the island's popular and conveniently-located Smythe Park neighborhood. Old Landing is the only new property offering planned for Charleston's Daniel Island this year.

Daniel Island Real Estate's offering last week of 48 new homesites located on and near the Wando River has caught the attention of prospective buyers. Just five days after the release, 26 of the sites -- representing more than half of the offering -- are spoken for. The homesites are located in Old Landing, a special enclave within the island's popular and conveniently-located Smythe Park neighborhood. Old Landing is the only new property offering planned for Charleston's Daniel Island this year.

The Old Landing offering incorporates a wide variety of lot types, from deepwater and marsh view sites to a number of interior sites. All are located within convenient proximity to island schools, parks and other amenities in this Charleston community. The homesites are competitively priced, starting at less than $200,000. All of the deepwater sites in this offering -- which were priced starting at $1 million -- sold on the first day. Several additional deepwater sites will be released in the near future (date yet to be determined).

"This offering represents some great values, and we are very pleased at the initial response, particularly considering that our marketing campaign for the property is only just now beginning" said Rick Vale, Director of Sales at Daniel Island Real Estate. "It's clearly a wonderful opportunity for people who have always wanted to live in Charleston on Daniel Island -- whether it be for the recreational amenities, schools or the lifestyle the island has to offer."
Qualifying purchasers of Old Landing homesites -- as well as developer-owned homesite listings in other Daniel Island neighborhoods -- are eligible to participate in a brand new Home Building Incentive Program with the National Bank of South Carolina. Under the terms of the program, the developer (the seller) will deposit 100% of a purchaser's financing payments for a three-year period into an escrow account in the purchaser's name upon closing. NBSC will draw from this account to make monthly payments on the loan. The three-year period corresponds with a three-year building requirement on the sites. If the purchaser elects to begin building sooner, the remaining money in escrow will be applied to the subsequent building loan. Interest earned on the money in escrow also benefits the purchaser.

"We sell homesites with a three-year build requirement because our mission is about building community," said Matt Sloan, President of the Daniel Island Company in Charleston. "But we recognize that some people may be concerned about buying a homesite and starting the build process before their current home sells," he continued. "Our unique Home Building Incentive Program addresses one of the major obstacles we believe potential Daniel Island residents are currently faced with. It allows buyers to take advantage of favorable buying conditions without being hindered by tough selling conditions."

In addition to the Old Landing homesites, the Home Building Incentive Program also applies to developer-owned homesites island-wide, including lakefront property in Smythe Park and golf neighborhood homesites in Daniel Island Park.

Located within the City of Charleston, Daniel Island is a 4,000-acre island town featuring traditional neighborhoods, world-class golf, tennis and soccer facilities and a growing collection of amenities. The island's downtown is home to schools, churches, medical offices, boutiques, restaurants, a modern supermarket and many other conveniences. Access to hundreds of acres of parks, 23 miles of rivers and creeks, leisure trails, and a private country club provide residents with a myriad of recreational options. Daniel Island has been honored with numerous accolades and was recently recognized with a prestigious "Award for Excellence" by the Urban Land Institute.

###

Share article on social media or email:

View article via:

Pdf Print

Contact Author

Julie Dombrowski
Visit website