Old City Philadelphia (sometimes spelled as Olde City) is known for two things: tourist attractions and nightlife. These items, though, are also what makes Old City a popular neighborhood for buying a home. Read on to see if Old City is right for your first time home purchase. Old City’s location is super convenient Old City is appropriately named. It’s literally the original part of Continue Reading
What Are the Worst Homes for First Time Buyers?
When buying your first home, you may have an image in your mind of the house you’ve been dreaming of since childhood. Or perhaps you’re eyeing a cute bungalow, or a crumbling Victorian mansion and have grand plans of making it your own. But is the perfect house for right now really the perfect house for a first time buyer? While everyone has different needs and wants, first time buyers might want Continue Reading
Budgeting for Your Home Purchase: What First Time Buyers Should Know
Buying a home is a financial investment. It comes with not only a monthly payment, much like what you’re probably used to paying in rent, but additional upfront costs, one-time fees, and even monthly escrow can really increase the amount you will spend. Here’s how to determine how much you might expect to pay for your new home. Use a mortgage calculator to determine what you can afford. Mortgage Continue Reading
Should Your First House Be A Single Family Home or a Condo?
If you’re a first time home buyer, you’re likely facing the crucial decision of whether to buy a single-family home, or a condominium. A condo is a home in a multi-residence building, which may include a typical condo building, laid out like an apartment complex, or possibly a town-house like community with separate entrances but shared walls. Some condo buildings might contain only a few units – Continue Reading
Do I Qualify for an FHA Loan?
An FHA loan is a very popular way to get a mortgage, especially for first-time buyers. These loans are backed by the Federal Housing Administration (FHA) and require that you put less money down – as little as 3.5% - than a conventional loan through a mortgage lender, which usually requires 10% or even 20%, depending on your credit. To understand an FHA loan, first you have to remember than Continue Reading
Should You Rent or Buy?
Most of us will rent an apartment or house at some point, and many will also buy property, too. Whether or not you decide to rent or buy depends on many factors. Check our list to see if this is the time to purchase your perfect home, or if you should rent a bit longer. Budget The biggest factor when considering renting versus buying is how much each will cost. In some markets, buying may be Continue Reading
Are You Really Ready to Buy a Home?
Owning a home is a huge goal for many Americans. You may think buying a house is something you want to do soon – you’ve been saving, looking, and planning home décor. You’ve made a list of your must-haves. But are you ready to actually pull the trigger? Here’s how to tell. One-on-One Showings vs. Open Houses If you’re sticking to just open houses, you may not be ready to take the Continue Reading
The Tax Benefits of Buying a Home
If you’ve already done your taxes this year, good for you! Hopefully you’re looking forward to a nice refund check. If you haven’t filed your taxes, one reason may be that you expect to owe money and want to put it off as long as possible. Did you know buying a home can have a positive impact on your tax return? If you’re sick of writing that check to Uncle Sam year after year, consider this Continue Reading
The Most Historic Houses on the Philadelphia Market
Philadelphia loves its history. What’s not to be proud of? Aside from the Declaration of Independence, the Constitutional Convention and the Liberty Bell, we were the first capital city of the US, and the second-largest English speaking city in the world, after London, in 1776. So it follows that we love historic houses. Elfreth’s Alley, the Summer White House, and the Betsy Ross House are Continue Reading
Profiles of Philadelphia: Northern Liberties
Ask anyone what the hottest neighborhood in Philadelphia is, and they are likely to say Fishtown/Northern Liberties, two smaller neighborhoods that pretty much run together. Northern Liberties is north of Old City and bordered by Girard Avenue to the north, Callowhill Street to the south, North 6th Street to the west, and the Delaware River to the east. Fishtown is roughly bordered by Delaware Continue Reading
