Factors to Consider When Buying Real Estate in Philadelphia

Planning to retire soon? Are you moving out from your parent’s house? Or did you recently get a huge promotion? Is there a baby on the way? For whatever the reason is, purchasing real estate is something that should be taken with careful and meticulous steps. To be successful in your purchase of a new home it is important you be open-minded and considers some of these variables outlined below. In doing so, your quality of life and your family living situation can also be expected to improve.
Whether it is your first time buying a property or fifth, the task can often be pretty scary. Philadelphia real estate for example offers many diverse neighborhoods and housing types all within 20 miles of center city.

1. Understand the zoning. Industrial or commercial use properties close buy have an impact on the type of traffic you may experience. What are the bodies of water in the area and what would be the result to your home should you get significant rainfall? Will you require a different type of insurance policy for cover floods?

If you want a home with easy access to mall shopping or major highways, it would be appropriate to choose a property that sits close to the major interchanges. Many of the luxury homes on the Main Line can access the Schuylkill expressway in less than ten minutes making this region very attractive to a commuter to center city Philadelphia.

2. Understand Township Rules and Regulations. Each municipality in Pennsylvania governs local roads, property restrictions and building permissions. Some make it more difficult to make renovations and hire contractors than others. If you plan on buying a home in Philadelphia suburbs that needs some work, it is important that you investigate your limitations by asking neighbors and speaking with township officials prior to moving forward with your purchase.
3. Social & Economic Condition of the Neighborhood. Have you ever heard the phrase, “It takes a village to raise a child.”? At first glance you can certainly determine if the neighborhood is growing or declining. It would also be important to evaluate census data of the population of the neighborhood: general age, levels of education, occupation and lifestyle. Ask yourself if this information closely allies with your own community living aspirations.
4. Where are the Schools, Churches, Hospitals and Grocery stores? How easy will it be for you to get “Plugged In” to the community? How about getting daily chores done? Based upon the family’s immediate needs, find a community that has easy access to what is important most to your family. Should someone get hurt, is medical attention far away?
5. Taxes. Higher taxes do not always mean better schools and municipal services. Pay attention more to the value of your tax dollars and where those local township boundaries are.

These are just a few of the questions you should be considering when seeking a new place to plant your roots. Other than financial criteria, it is crucial for a person to look for a property that really suits his taste and his preferred way of living. Our best advice is to consult a couple of Philadelphia real estate brokers when looking for best homes for sale in Society Hill for example. As we said, the Philadelphia real estate market is very diverse and the MLS tools an agent brings to the table is very helpful in your quest. If it is luxury homes on the Main Line you are after, perhaps reaching out to a Haverford Township real estate agent would be the best direction to take.