Buying Real Estate in Philadelphia: Questions to Ask Yourself
Whether you are moving out of your parent’s house, wanting to get out of paying monthly rents, or just seeing the need to upgrade to accommodate your growing family; purchasing a new house is not exactly a walk in the park. There are so many things that you need to consider and ponder on. Of, course you would not want to see your hard-earned money go to waste once you find out that the real estate that you purchased is not exactly what you were looking for in the wrong run. Most importantly, you would not want to compromise the good quality of life that you are looking to give yourself and your family.
Philadelphia real estate offers varied housing types and diverse neighbor for every kind of homeowner out there. Within 20 miles of its center city, you should be able to find that one home that is perfect for you.
Where is the House Located?
Traffic is a very huge concern for those who are looking to buy real estate. If you are one who does not take pleasure sitting for hours in a traffic jam, you need to consider the availability of roads along with the location of industrial and commercial properties in the area. If you would want a place that is near shopping malls and would not want to be bothered by traffic, choose a site that it is near major highways and interchanges just like those luxury homes on the Main Line.
You also have to consider the presence of lakes and other natural formations in the area. Consider the possibility of floods and landslides and the types of insurance policy that you will have to get in order to cover for such natural disasters.
What are the Rules and Regulations of the Township?
Every municipality in Pennsylvania is bound to have its own set of rules and regulations that homeowners in the area need to follow. Before buying a home in Philadelphia, you might want to have a closer look at these policies. There are bound to be some municipalities that have stricter systems so you have to assess if you can live with them. Speak with the neighbors or the township officials before ultimately making the purchase.
What is the Socio-Economic Status of the Neighborhood?
The kind of neighborhood that you intend to live in holds a very big chunk in the quality of life that you intend to have. You should be able to see the overall condition of the neighborhood at first glance. However, try to dig a little deeper and evaluate the census data of the population such as general age, educational level, and occupation. This should give you a clear idea if this is a place that you would want to live in for a long time.
Are there Schools, Churches, Hospitals, or Grocery Stores Nearby?
Is there a school nearby for your children? Will you be able to do your chores and get grocery shopping done on time? In case of medical emergencies, is there a hospital or clinic where you can get immediate intervention from? Find a community that allows for easy access to these institutions to spare you the long drives and time wasting.
How is Tax?
You might be moved to purchase a property because of the high taxes in the area with the belief that it will give better schools and municipal services. However, this is not always the case. You need to pay close attention to the value of your tax dollars along with the boundaries of the local township.
Apart from all these questions that you need to ask yourself before buying a property, another very important criterion that you need to factor in is your taste and your lifestyle. Before making any purchases, it would be best to consult a couple of Philadelphia real estate brokers who will give very clear ideas about the Philadelphia real estate market. If you are looking to buy homes for sale in Society Hill or luxury homes on the Main Line, a Haverford Township real estate agent should be of great service to you.
