What are the Best First-time Home Buyer Tips?

Jim Armstrong Buying in Philadelphia November 9, 2019January 5, 2026checklists, first-time home buyer tips, Philadelphia real estate

1. Save money
You’ll need to pay your down-payment (some loan programs offer as little as 3%), closing costs (3-5% of sale price), and escrow for insurance and taxes.

2. Improve your credit score
Make payments on time and don’t open new lines of credit or make major purchases—a higher credit score can equal a lower interest rate.

3. Get pre-approved
Shop around for the best loan deal and get it in writing (interest rate and any associated fees). You’ll need this letter when you make an offer. Local lenders often provide great, personalized service at competitive rates.

What are the Best Tips for Selling Your Home?

Jim Armstrong Selling in Philadelphia November 9, 2019January 5, 2026first-time home seller tips, home-selling tips, Philadelphia real estate

Selling your home in Philadelphia is a very different process from buying your first-home. As a seller, you’ll have more control in the process, but there are smart tips to follow to ensure a smooth process, a faster sale, and the best price.

1. Know the best time to sell your home in Philadelphia

Home supply and demand ratio determines if it’s a seller’s market, buyer’s market, or balanced market.

If you have the flexibility to choose when you sell, chose a seller’s market, which occurs when there are more buyers searching for homes than available inventory. In the greater Philadelphia area, this is typically during the warmer months—May through August—and can lead to multiple offers that can exceed the list price.

Like the national market, May is the best month of the year to sell your home in Philadelphia. Homes listed at this time sold faster and for up to 10% more than the yearly average, according to local sales data.

Top Reasons to Buy a House in Philadelphia

Jim Armstrong Buying in Philadelphia November 9, 2019January 9, 2026first-time home buyer tips, home-buying tips, Philadelphia real estate

1. Enjoy tax write-offs

As a Philadelphia homeowner, you may deduct the interest you pay on your mortgage, your Philly property taxes, and some costs associated with buying a home.

2. Earn appreciation

Median single-family existing-home sale prices increased on average 5.2 percent each year from 1972 through 2014, according to the National Association of REALTORS®. Also, the number of U.S. households is expected to increase 10 to15 percent in the next 10 years, continuing the high demand for housing.