7 Insider Tips for Buying Your First Home in Philly
Philadelphia, the City of Brotherly Love, is a vibrant and historic city with a unique charm that attracts people from all over the world. If you're a first-time homebuyer in Philly, you're in for a treat.
However, buying a home can be a stressful and overwhelming experience, especially if you're not familiar with the process. Here are seven expert tips to make your home-buying journey in Philly a breeze.
1. Get Pre-Approved for a Mortgage
Before you start shopping for homes, it's important to get pre-approved for a mortgage. This will give you an idea of how much you can afford, and it will also help you narrow down your search to homes that fit your budget. It's important to note that getting pre-approved for a mortgage is different from getting pre-qualified. Pre-approval involves a more thorough assessment of your creditworthiness and financial situation, while pre-qualification is more of an estimate.
2. Choose the Right Neighborhood
Philadelphia is a large city with many neighborhoods, each with its own unique character and charm. When choosing a neighborhood, consider factors such as proximity to your workplace, public transportation, schools, and amenities like parks and restaurants. It's also important to consider the crime rate and the overall safety of the neighborhood.
3. Hire a Real Estate Agent
A real estate agent can be an invaluable resource when buying a home, especially if you're a first-time homebuyer. They can help you navigate the complex home-buying process, negotiate on your behalf, and provide you with valuable insights about the local market. When choosing a real estate agent, look for someone with experience in the Philadelphia market and a good reputation.
4. Consider Your Long-Term Goals
When buying a home, it's important to think about your long-term goals. Are you planning to start a family soon? Do you plan to stay in the home for the long term or sell it in a few years? These factors can influence the type of home you should buy, as well as the location and size.
5. Attend Open Houses
Attending open houses is a great way to get a feel for the local market and see what's available in your price range. Take note of the features you like and dislike about each home, and be sure to ask the seller's agent any questions you may have. When attending open houses, it's important to be respectful of the seller's property and follow any guidelines they may have in place.
6. Don't Skip the Home Inspection
A home inspection is a crucial step in the home buying process. It can help you identify any issues with the home that may not be immediately visible, such as foundation problems, electrical issues, or mold. If the inspection reveals any issues, you can work with the seller to negotiate repairs or a lower price.
7. Be Prepared for Closing Costs
Closing costs can add up quickly, so it's important to be prepared for them. These costs can include things like title insurance, attorney fees, and appraisal fees. Your real estate agent can provide you with an estimate of the closing costs so that you can factor them into your budget.
Conclusion
Buying a home in Philly can be an exciting and rewarding experience, but it's important to be prepared and informed. By following these seven expert tips, you can make your home-buying journey a success. Remember to take your time, do your research, and work with experienced professionals who can guide you through the process. With a little patience and perseverance, you'll soon be the proud owner of a beautiful Philly home.
Want to make buying a home in Philly a breeze? Turn to Steven Ohm Realty! As a Philadelphia native, I have intimate knowledge of the area and a strong desire to make my home your home. Placing you into the home you’ve been waiting for with eyes wide open is the goal. In fact, I focus on earning the respect of my clients by working tirelessly on their behalf and by always offering them candid advice. Get in touch today!
