The JW Martin Home Buyer's Guide
Everything you need to know to buy a home in Upstate South Carolina, Western North Carolina and Northeast Georgia.
In this guide: Budget · Loan types · Costs of buying · Needs vs. wants · Making an offer · Inspections · Closing · Buying a lake home · New construction · Relocating
1. Set your budget
- Look at your full monthly payment: principal, interest, property taxes, insurance, HOA dues and mortgage insurance.
- Keep cash for your down payment, closing costs, moving and a cushion for repairs.
- Check your credit report early and fix errors.
- Run scenarios with our mortgage and closing cost calculators.
2. Choose a loan type
Conventional
Down payments can start as low as 3% for qualified buyers. Private mortgage insurance (PMI) usually applies under 20% down and can typically be removed later.
FHA
Minimum 3.5% down with qualifying credit. Includes an upfront mortgage insurance premium and annual mortgage insurance.
VA
For eligible veterans and service members. Often 0% down and no monthly mortgage insurance, with a VA funding fee unless exempt.
USDA
0% down for eligible buyers in eligible rural and suburban areas, with income limits, an upfront guarantee fee and a small annual fee. Many Upstate areas qualify.
Jumbo and portfolio
For higher-priced homes, including many lake properties. Down payment and reserve requirements are often higher.
First-time buyer help
Ask lenders about state housing programs, including SC Housing, and down payment assistance you may qualify for.
3. Costs of buying
- Earnest money (credited at closing)
- Due diligence and inspection costs
- Appraisal fee
- Lender fees, title insurance and closing attorney fees
- Prepaid items: homeowners insurance, property tax and interest escrows
- Moving costs and initial HOA fees, if any
Sellers sometimes agree to pay part of the buyer's closing costs. Estimate yours with our closing cost calculator.
4. Know your needs vs. wants
Make a list: must-haves (bedrooms, commute, schools, single-level living) and nice-to-haves (pool, view, shop). It keeps your search focused and helps you move fast when the right home appears.
5. Making an offer
Your offer includes price, earnest money, due diligence or inspection period, financing details, contingencies and closing date. In competitive situations, a strong pre-approval, flexible terms and a clean offer can matter as much as price. We'll use recent comparable sales to help you avoid overpaying.
6. Inspections and due diligence
Common inspections include a general home inspection, termite (wood-destroying organism) report, septic and well inspections in rural areas, roof, HVAC and a survey. Also check flood zones, HOA rules and covenants, insurance quotes and property taxes before your due diligence ends.
7. Closing
In South Carolina, closings are conducted by a real estate attorney, usually chosen by the buyer. Bring a government ID, and wire funds only after verbally confirming instructions with your attorney at a known phone number. Wire fraud is a real risk. After closing, apply for the 4% legal-residence property tax assessment with your county if the home is your primary residence.
Buying a lake home on Keowee, Hartwell or Jocassee
- Docks: Lake Keowee and Lake Jocassee shorelines are managed by Duke Energy, and Lake Hartwell by the U.S. Army Corps of Engineers. Confirm the dock permit and whether a dock is allowed.
- Water depth: Check depth at the dock at low lake levels, not just in summer.
- Septic: Many lake homes are on septic. Inspect it and confirm the capacity.
- HOA and rental rules: Some communities restrict short-term rentals.
- Insurance: Get quotes early.
Explore our Lake Keowee, Lake Hartwell and Lake Jocassee guides.
Buying new construction
Builders' sales agents represent the builder. Having your own agent costs nothing extra in many cases and helps with upgrades, contract terms, inspections during construction and the final walk-through. See our new construction communities.
Relocating to the Upstate
Moving from out of state or overseas? We offer video tours, neighborhood guides and help coordinating your move. Start with our city guides.
Buyer FAQ
How much do I need for a down payment?
It depends on the loan: 0% for VA and USDA, 3.5% for FHA, as little as 3% for some conventional loans, and more for jumbo loans and investment properties.
Do I pay for a buyer's agent?
Your buyer agreement explains how your agent is paid. Often, sellers or builders agree to cover some or all of it, which can be negotiated in your offer. We'll explain your options upfront.
Should I get pre-approved before looking at homes?
Yes. It sets your budget and makes your offer competitive.
Ready to start your home search?
At JW Martin Real Estate we try to live by one idea: "Be the kind of Realtor you'd want your Mother to have." Call (864) 722-5558 or contact our team.
More buyer resources: Our buying process · Home buyer's guide · Mortgage and closing cost calculators · Lake Keowee guide · Lake Hartwell guide · City guides · Investor resources
