A national report says Charleston County could be a financial strain on millennials looking to buy a home.
Real estate information firm RealtyTrac recently concluded that the county is among the nation's Top 15 priciest for millennials to buy a home. Millennials are defined as those born between 1977 and 1992.
The local county's 15th ranking is just below Multnomah County, Ore., home to Portland. The report says the most affordable county is Richmond County, Ga., which is home to Augusta. The least affordable was San Francisco County, Calif.
The RealtyTrac study ranks counties with at least 100,000 people, looking at the income needed to purchase a median-priced home. In addition, the study only looks at counties where millennials made up at least 24 percent of the total population, and where the millennial population increased between 2007 and 2013.
For Charleston County, the study reports someone earning the median household income ($49,421) would have to spend roughly 31 percent of that income to finance a median price ($251,600) home.
What's the most important thing buyers look at when deciding on a home?
The kitchen, according to a new report by homebuilder PulteGroup.
The group's report, which polled 1,004 adults between the ages of 25 and 65, says the second-most important feature in the home is the master bedroom. The living room is the third-most influential feature in the decision-making process, according to the data.
"As consumer confidence improves and the appetite for homebuying increases, consumers today aren't just looking for the biggest house on the block," said Ryan Marshall, executive vice president of homebuilding operations, marketing and sales for PulteGroup. "They're looking for more efficient use of space and a greater area allocated to 'workhorse' spaces, like the kitchen."
The homebuilder's study also says that 51 percent of the adults surveyed indicated they want their future home to be larger than the current home.
In terms of wanted amenities in the future home, the report says that "his-and-her closets" rank the highest, followed by "spa-like" bathrooms.
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