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Nick Churton of Mayfair International Realty sniffs the sweet smell of great opportunity at a lovely home in Charleston, South Carolina.

Broker: Handsome Properties.

Agent: Debbie Peretsman

Mostly a house can be improved for the better by changing layout, structure and decoration and through judicious modernisation. But few homes can alter location for the better. No. 22 Rutledge Avenue in Charleston is in the minority. This house, opposite an urban reservoir, sees its location improve every day. The great news is that this hitherto slightly awkward duckling of a body of water is being turned into a most beautiful swan. Don’t get me wrong the area is really very nice as it is now. It is just that it is set to be even better – a lot better.

The entire area is being re-landscaped and beautified. Before long this will be a lovely lake surrounded by delightful parkland with walkways shaded by specimen trees. Not only that, this area of Charleston is becoming hot. The city is seeing the biggest surge in growth for years. Now neighborhoods to the north of Broad Street are steadily being gentrified – or re-gentrified. Gentrification is of course a relative term in Charleston. The city has always been rather genteel. But new areas are fast becoming popular. And you know what that means – real estate values can rise dramatically in those places.

So here is a fantastic opportunity to increase the value of your house without doing anything or spending a dime. Just sit drinking iced tea on the deep, elegant, pergola topped front terrace with its black and white checked tiles while the value of the property rises as the location is transformed.

But that’s not all. This beautiful Edwardian colonial villa has a cool mix of handsome Italianate exterior and sophisticated 1920s interior. Outside there is a wonderfully landscaped courtyard garden with pool and detached guest cottage.

They say there is no such thing as a free lunch. But feast your eyes on all this and I think you will agree that once in a while if you buy wisely you can add something for nothing.