All of the reasons that make Philadelphia a great place to live can also make finding and buying a condo difficult. The city has excellent walkability, lower than average cost of living, the most green space of any city on the east coast, and amazing sightseeing. Residents can live day-to-day without being overburdened and get to higher end shopping all within a short walk. Many new construction buildings are even mixed use buildings, reducing traffic and pollution while maintaining the easy access of the city. Even though demand is driving up prices on new homes, we can help you find good deals throughout Philly. Contact us to find condos and homes in the most pedestrian friendly neighborhoods like Center City West and Rittenhouse Square.
New Philadelphia Condos can be more expensive than existing Condos
Curbed Philadelphia reports that new construction homes in the Philly metro area can cost up to 188 percent more than existing homes. However, the second largest city on the East Coast remains a much more affordable place to live than New York or Washington, both easily and quickly reachable by The Acela Express. Just keep in mind that if you’re looking for the newest construction, there may be a premium. Existing condos can have every amenity of new construction though, The Phoenix being a great example of old styling with new finishings.
Great buys are still available even in a competitive market
The winter months are the ideal time to research neighborhoods and begin narrowing your search. This puts you in a position to make offers at the as early in the year as possible. Ideally, you should have a first, second, and third choice when you make your first offer. If you need to walk away from one, and you should be prepared to do so, you can still get an accepted offer on your new home and be able to arrange a springtime closing.
1 in 6 condos and homes are sold above their asking price, make sure you have all the details when looking
According to Curbed, about one in six Philadelphia condos and homes sold for above their asking price in 2017. Philly is a beautiful, prestigious, and affordable city with a unique real estate market that is influenced by many factors. Contact us to discuss your goals and objectives in detail so we can help you make an informed purchase you will feel good about for many years to come.