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South Carolina dollar worth more than just a dollar

Here's some good news if you live in South Carolina. You may be surprised to know that your dollar is actually worth more for the things you want to buy in your state. An Aug. 27 report states that the relative power of the dollar in the state has prompted people to make more real estate purchases in the state.

According to the U.S. Department of Commerce, South Carolina has one of the fastest growing manufacturing sectors and economics within the United States. The state is industry friendly, a chief executive officer has said, and the workers are willing to do the jobs provided.

So, how much is your money worth in the state? The news reports that it's possible to buy $110.25 worth of goods for just $100 of your hard-earned money, and that also includes houses. A realtor out of Horry County has said that a large number of the new buyers in the area have come in because of the value of living in South Carolina.

For property taxes, for instance, annual fees are what a person might pay monthly in New York, one local resident stated. TaxFoundation.org agrees, stating that New York is one of the most expensive places in the United States to live.

The low cost of living in South Carolina may be why the area of Horry County has seen growth in the business arena. Since January 2012, 11 companies have decided to make the county their homes, and that's led to 1,300 new jobs in the county.

If you're ready to look into buying a house or completing another kind of real estate transaction, now's a good time thanks to the economy. Going through this process is an exciting time, but you should make sure you know your legal rights and obligations throughout.

Source: WMBF News, "Your dollar is worth more in South Carolina" Kristin Sanchez, Aug. 27, 2014

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