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The Perks of Owning an Investment Property in Savannah

Savannah property management row houses in savannah

An Investment Hub Drenched in Southern Charm

Savannah, with its rich history, diverse culture, vibrant economy, and iconic scenery, has long been a coveted location for real estate investment. Boasting picturesque row houses and stunning historic architecture alongside modern, downtown residences, it represents an exceptional mix of old and new. Indeed, owning an investment property in Savannah is not just a good business move, but a significant step towards secure, long-term wealth.

In this article, we will delve into the unique advantages Savannah presents as a real estate investment hotspot and why property management services play a crucial role in ensuring maximum returns.

When it comes to property investment, location is crucial. And Savannah, with its Southern charm and diverse offerings, fits the bill perfectly. Savannah’s rich cultural scene, from the historic Savannah Theatre to the Telfair Museum, adds to the city’s appeal, attracting a diverse crowd of residents and visitors.

The city is also home to some of the most prestigious educational institutions, making it a popular choice for families. This demand for quality living spaces creates an excellent opportunity for rental property owners.

Additionally, Savannah’s flourishing economy and bustling business environment promise an ever-increasing influx of professionals seeking convenient and stylish city living. The tourism industry, too, continues to thrive, offering opportunities for short-term rentals and vacation properties. This consistent demand makes Savannah a stable and rewarding real estate investment destination.

An Investment Hub Drenched in Southern Charm

Few places hold the historic allure and modern vibrancy that Savannah does. A city known for its stunning squares and parks, diverse gastronomic scene, dynamic businesses, and excellent educational institutions, Savannah is a place where people aspire to live, work, and explore.

Tourism remains a significant economic driver, with an influx of visitors each year, attracted by the city’s unique blend of history, culture, and entertainment. This constant visitor flow provides a stable source of potential tenants for short-term rentals and vacation properties, allowing you to capitalize on your real estate investment.

Maximizing Your Investment with Property Management

Being a property owner presents certain challenges – finding quality tenants, handling maintenance and repairs, managing rental collections, and more. This is where the role of a property manager becomes invaluable.

Property management services in Savannah can help you enhance the return on your investment by ensuring the effective operation of your rental property. These professional services provide numerous benefits:

Improved Tenant Retention

Happy tenants are long-term tenants. Property managers work tirelessly to ensure the satisfaction of your renters, addressing their needs promptly and professionally, ultimately reducing turnover.

Tenant Screening and Placement

An essential part of maximizing your rental income is finding the right tenants. Property managers utilize their expertise and resources to conduct comprehensive tenant screenings, selecting reliable renters who will respect and care for your property.

Maintenance and Repairs

Keeping your property in peak condition is a priority. Property managers handle routine maintenance and necessary repairs, ensuring that your investment is well-maintained and attractive to current and prospective tenants.

Collection and Disbursement of Rental Payments

Managing financial transactions can be tedious and stressful. Property management services streamline the process, handling rental collections and disbursements efficiently and effectively.

Access to Professional Resources and Expertise

Property managers have access to a vast network of service providers, legal services, and real estate industry knowledge. This professional expertise can significantly reduce risks and improve the profitability of your investment.

A Secure, Long-term Real Estate Investment

Investing in Savannah real estate offers an opportunity for consistent, long-term returns. Property values have historically appreciated over time, and with Savannah’s thriving economy and increasing population, this trend shows no sign of slowing down.

Moreover, employing professional property management services provides peace of mind. With experts looking after your investment, you can focus on expanding your portfolio or simply enjoying the financial rewards of your Savannah property.

Reaping the Benefits of Savannah Investment Property

Investing in Savannah real estate is more than just owning a piece of this charming Southern city. It’s about generating steady income, securing your financial future, and enriching the community.

With the help of professional property management services, you can maximize your returns, ensure the longevity of your investment, and minimize your stress. By owning an investment property in Savannah, you can reap the financial benefits while contributing to the ongoing vibrancy and growth of this beautiful city.

Remember, each step taken on the historic streets of Savannah, up to the doors of your investment property, is a step towards a secure financial future. So, why not make Savannah the next addition to your real estate portfolio? With the right property management team by your side, your journey towards profitable property investment is just beginning.

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Preparing Your Home for Fall

Tips for Preparing your Home for Fall Weather in Savannah GA

Fall is not only the time of colorful forest trails and misty mornings, it’s also a good time to take care of the little things that will help maintain your home. Most of these things you can handle yourself and even if you choose to hire professional services it’s well worth the expense.

Get your home in order for the coming winter with these Fall cleaning tips

Interior Preparation

  1. Have your furnace inspected

This should be done once a year and fall is usually the best time for it as you’ll be using it a lot more in the colder months ahead. Hire an HVAC contractor to test for leaks, change the filter and do a carbon monoxide check.

  1. Improve home safety

Go over all your homes safety devices and see if they’re working correctly. Check your smoke and CO2 alarms. They should be fully dusted and have their batteries changed. Also, check your fire extinguishers to be sure they’re working properly. 

  1. Improve insulation

With winter fast approaching now’s the time to improve your home’s insulation. With better insulation in your attic and walls, you’ll be able to keep cold drafts from coming inside your home. This will improve your energy efficiency as your furnace won’t have to do overtime.

  1. Set your thermostat

If you don’t have a programmable thermostat buy one and set it for colder periods. By setting your thermostat to lower the temperature automatically at night and when you’re not at home you can make big savings on your energy bills

Exterior Preparation

  1. Do a roof inspection

A careful inspection from the ground with a pair of binoculars should do it. Check for any missing, loose or damaged shingles. If you can, try and get on the roof for a closer look. You can do repairs yourself or hire a contractor to do it.

  1. Stock up on firewood

Make sure your well stocked up on firewood. If you gather your own make sure their dry and store them in a dry location or under a tarp. For safety reasons, it’s better to store them away from the house.

  1. Clean the gutters

Not the most pleasant job but it’s something that has to be done. Get a ladder and start removing leaves, nests, and debris from the gutters. You can always hire a contractor to save you doing it yourself.

  1. Reinforce windows and doors

If your expecting rough weather ahead prepare your windows and doors. Remove screens and refit them with storm windows and doors. Make sure their properly sealed

  1. Check sprinklers and irrigation systems

If you live in a colder climate you may need to drain and service your irrigation system. Have a professional do any repairs and store away what you can. This goes for garden hoses as well. Outdoor faucets should be shut off and valves closed off.

Conclusion

Although winter may still seem a long way off now is the best time to prepare. Follow these tips and anything else your home might need. You’ll feel grateful once the first snow begins to fall.

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Renting Versus Buying a House in Savannah – Which one is Right for You?

Considering the hefty price to buy a home, most young people begin their adult lives by renting. As they build up a career, save money and start a family the idea of owning a home becomes more pressing. Mortgage rates though still remain too far out of reach for many young people. In the last 10 years, homeownership among those aged 35 and younger has declined by 18%. Coupled with the aftershocks of the great recession and historic levels of student loan debt the results are easy to understand.

Yet even if the finances are there to acquire a home, recent trends in some areas suggest that it may soon be cheaper to rent then buy in Savannah. In the end, whatever your final decision may be there’s a chance that it may not be a financial one.

Buying a House in Savannah

Buying a home can bring a lot of advantages and for the most part, it’s still cheaper, in the long run, to buy than rent but it calls for a large sum up-front and a few one-time costs. This can add up to a lot when everything is factored in.

  • Earnest money – a payment that ranges from 1% to 3% of a home’s value to show that you are serious about the purchase.
  • Down payment – a percentage of the homes price that is paid upfront. This ranges widely depending on credit profile, market conditions and type of mortgage loan and typically ranges from 3% to 20% of the purchase price.
  • Home appraisal – a price paid to ensure the homes price matches the homes values, usually between $300 and $500.
  • Home inspection – licensed home inspectors hired to find problems and defects that might not be apparent to the untrained eye. Usually, costs about the same as a home appraisal.
  • Property taxes – as homeowners need to pay property taxes upfront a buyer will need to compensate a seller for taxes paid from the closing date to the end of the current tax period.
  • Home insurance for the first year – you almost always need to pay the first years premium upfront. This cost varies widely based on location, your credit score and coverage limits.

In addition. There will also be recurring payments over the months and years ahead. This includes loan payments, property taxes, insurance, utility bills and maintenance. Not forgetting as well on-time costs like furnishings, moving costs and renovation projects.

Advantages of Buying a House

If you can cover all of these costs though you can soon reap the benefits and save more money in the long run then you would from renting. This includes building home equity, tax benefits and the potential for rental income.

Money aside, there’s also the personal benefits you gain from home ownership such as creative freedom to redo the house as you want and the chance to settle down and set some roots in the local community.

Renting a Home in Savannah

Renting won’t have as many upfront costs but there will still be a few to go through before you can move in.

  • Security deposit – made to insure against any damage to the property or broken leases, usually the price of one month.
  • First month’s rent – you’ll need to pay the first months rent upfront along with the security deposit.
  • Moving costs – same as homeowners, renters will still need to pay the costs of moving their furnishings and belongs to their new residence.

You’ll also have a few recurring costs that will need to be covered each month. This will include your monthly rent, renter’s insurance (optional but recommended), utility bills and possibly laundry if the rental unit does not come with its own laundry machines.

Advantages of Renting in Savannah

Renting a property will come with plenty of advantages if you’re not expecting to settle down and need the freedom to quickly move again if needed. You won’t be responsible for any maintenance or repairs such as burst pipes or malfunctioning air-conditioner units and you also won’t be influenced by changing prices in the real estate market. For people who don’t expect to stay in one place for more than 3 years or can’t afford the upfront cost for a purchase will be better choosing a rental.

Savannah Rental prices have remained quite stable in recent years while those for mortgages have risen. However, when everything is measured out the costs of owning a home in Savannah are still about 33.1% cheaper than a rental. If you can afford to put 20% of the purchasing price down and a 30-year fixed rate mortgage then it makes perfect sense to buy rather than rent. Ultimately, most people will base their final decision on whether or not they’re ready for homeownership. It comes with a lot of responsibilities and a strong commitment but if you feel you’re ready and can afford it then the soon the better.

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New Home Checklist

New Home Checklist for new home buyers

You’ve closed the sale, arranged transport with a moving company and are now ready to move into your new home. But before you settle in for your first night there are a few things you need to deal with. To make sure your new home will be safe and comfortable follow this checklist and you’ll have a much smoother beginning.

Change the locks

Being handed the keys to your home is the moment we all look forward to but they won’t be the same keys for long. One of the first things you should do is change all the locks or have them rekeyed. It’s impossible to know how many copies the previous owners might have given out to babysitters, friends or relatives. Ensure that your home is safe by having the locks changed so there’ll be no unexpected visitors.

Copy housing documents

Once you closed the sale you should make at least three copies of your housing documents. Store the originals in a fire-proof safe in your home, another with your financial institution and a third can be left with home insurance providers while they set up your coverage.

Personalize the mailbox and entrance way

Make your home your own by branding it. The previous owners may have had their name or just the housing number on the front door; personalize it with your own. The same can go for your mailbox which allows you to mark your territory better.

Schedule a deep-clean

If your home has a carpet, swimming pool or gym you should get a deep-clean before moving in. Contact professional service providers to perform a deep clean of your home, you should also consider hiring HVAC contractors to inspect your heating and air-conditioning systems.

Update your address

You’ll need to inform a lot of people about your change of address. This can include your boss, financial institution, insurance provider, loan company and any other businesses you frequently make payments to.

Visit the local schools

If you have children you’ll need to inform the local schools that you’ll be moving to the area. This will give them time to prepare any paperwork to allow for the transition.

Check or install smoke and CO2 detectors

If your new home doesn’t already have a smoke alarm and CO2 detector you should have them installed immediately. As many as 150 deaths from carbon monoxide poisoning are reported every year so make sure you have one installed that is working properly. Smoke detectors may seem obvious but you’d be surprised how many deaths a year result from faulty detectors or failure to check batteries.

Fire extinguishers

Again, this might seem obvious but it’s something many people overlook. There are many things you need to buy for a new home and fire extinguishers should be near the top of the list. Have one for every level of the home and make sure every member of the family knows where they are.

Be social

Lastly, don’t forget to be friendly and greet your new neighbors. A good impression from the start will make it far easier to settle into a new location. Call on your neighbors and ask about any social gatherings you can take part in. if they have any children ask about play dates or activities in the area.

Moving into a new home is an exciting time and by planning right you can make the transition smooth and effortless.

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7 Things to do in Savannah During October

7 things to do in Savannah during October

October is the perfect time to visit Georgia’s most beautiful city. It’s a good deal cooler than in the summer and Savannah has a host of different festivals on for all age groups. Expect busy crowds with multiple events on each weekend that are guaranteed to get your taste buds moving and your cultural knowledge up to date. The month ends with Halloween which is another reason to visit Savannah, reputedly one of the most haunted cities in the country. Make your reservations ahead of time because this month plans to be a busy one.

Savannah Greek Festival

Location: St. Paul’s Hellenic center
Date: October 12th – 14th

This year’s annual Greek festival is planning to be bigger than last year’s one. With 67 years of tradition expect lots of Gyros, Moussaka and traditional clothes and dancing. The three-day festival presented by Savannah’s Greek community will feature plenty of Greek foods, desserts, traditional dancing, and music. Church tours will be run and a there’ll be plenty to shop for among the stalls

October Festival

Location:  Morrell Park & Rousakis Plaza
Date: October 6th – 8th

Get your German hat and grab your beer mug for another riotous three days of the annual October festival. The tapping of the keg opening ceremony begins at 4 pm which is then followed by endless supplies of German craft beer, bratwurst, and live music. There’ll also be a comedy hour on each day and a kid’s zone for families to let their little ones enjoy.

Savanah Pride Festival

Location: Ellis Square
Date: October 26th – 28th

With pub crawls, museum tours and award-winning singers, this year’s Pride festival promises to be a big one. Bars and pubs all around Ellis Square will be doing promotional drinks and there’s a museum tour for every interest. After being inspired by the art exhibits be sure to sign up for one of the workshops and seminars. When the downtown takeover begins, Grammy award-winning singer Estelle will be leading the entertainment.

Savannah Film Festival

Location: Multiple venues
Date: October 28th – November 4th

The quarterly SCAD FILM festival spotlights some of the hottest entertainment this year with a host of honorary guests such as Salma Hayek Pinault, Zoey Deutch, Richard Gere and Sir Patrick Stewart, to name just a few. Blockbuster premiers, fascinating documentaries, and stunning visuals will be found in abundance.

Savannah Speed Classic

Location: The Westin, Savannah Harbor
Date: October 27th – 29th

Get your dose of adrenaline at the Savanah Speed Classic hosted on Savannas own Hutchinson island. With its cobblestoned streets and historic past, the island comes alive for three days at the birthplace of Grand Pix racing. For engine and speed lovers this is a great day out family, couples, and friends.

Savannah Jewish Festival

Location: Monterey Square
Date: October 29th

This year’s Shalom Y’All Jewish Food Festival will be held on the last Sunday of October from 11 am to 3 pm. Come for the food stay for the culture. This annual event draws about 10,000 people and features delectable Jewish cuisine dishes and entertainment for all ages.

Haunted Ghost Tour

Location: Multiple Venues
Date: October 8th – 13th

Both kids and adults are in for a scare this month. The Savannah Ghosts and Folklore tour brings you on a guided tour of Savannah’s most famous ghostly sites and legends. This southern Gothic town has heaps of history hidden in its walls and more than a few tragic events that have birthed legends.

The Ghost Trolley Tour takes you around Savannah’s historic district and trills you with stories of hanged slaves, suicidal wives, and murdered husbands. Get into the spirit of Halloween with one of these terrifying tours.

Adults will love the fun, fear, and romp of the savannah Haunted Pub Crawl. Get your costumes on and join the guide (also in period costume) for a humorous and intriguing 2-hour candlelit walking tour. You’ll get to sample both types of ‘spirits’ in Savannah’s hallowed pubs. Almost every pub has its own ghost story and what better way to see Savannah then with two of its most time-honored traditions, ghost stories, and alcohol.