Philadelphia is an excellent city to live in, and many people dream of becoming a homeowner there. The City of Brotherly Love has plenty of green space, top-rated schools, historical attractions, trendy restaurants, and more. However, Philly is not as affordable as the rest of the country. The average home price is $255,000, making it more expensive than New York or San Francisco. Fortunately, there are some ways to buy a house in philadelphia for less.
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First, start by getting pre-approved for a mortgage. This step will tell you how much you can afford to spend on a buy house in philadelphia, and it will also help you determine your ideal neighborhood. After that, you should plan your down payment and start saving. A good rule of thumb is to save 20% of the purchase price, but this can vary depending on your financial situation.
Next, find a good buyer’s agent. These professionals are worth their weight in cheesesteaks, and they will help you navigate the complexities of buying a house in Philadelphia. They will also have the proper insight on budgets, home inspections, neighborhood know-how, and more. They can even help you save money on closing costs and negotiate the best deal on your home.
After you’ve found your dream home and made an offer, it’s important to get a professional home inspection. A home inspector will be able to identify issues that you may not have noticed during your showing, and they can help you estimate how much repairs will cost. Once the home inspection is complete and any necessary contingencies have been met, it’s time to close on your new home!