Looking for a Luxury Home in Philadelphia?
The Philadelphia luxury real estate market is hot, so it’s important for buyers to start their home-buying journey as prepared as possible. Whether you’re buying a home for the first time, or looking to upgrade (or downsize!) from your current house, the first step is finding the right Philadelphia realtor.
Maxwell Realty has been helping new and experienced home buyers in the Philadelphia area for more than 50 years. We will help you find the perfect home and navigate the buying process from start to finish.
Your Guide to Buying a High-End Home in Philadelphia
Make a list of needs and wants
Before you begin to look at homes, it’s important to know what you’re looking for. If you’re buying with a partner or for your family, it’s even more important that everyone is on the same page. All decision-makers should sit down and make a list of must-haves and deal-breakers. Be sure to think about things like:
- Location, Location, Location: Is it important for you to be within walking distance or have public transportation to get to your office? Or would you rather have more space in a home with a longer commute? Are there friends or parents you’d like to live close to? Or maybe you love your current neighborhood and have no interest in leaving. This is often the number one consideration for buyers. Location preferences can be as small as a specific neighborhood, or a list of a few you would like to live in. The luxury realtors at Maxwell Realty can help you find a home in Philadelphia’s most desirable locations – Rittenhouse Square, Washington Square, Old City, Society Hill, Center City, and more.
- Timing: Consider if you need to be moved into your new home at a specific date, or if you have flexibility.
- Style: There are many types of high-end homes on the market, so knowing your style is important. If you’re not sure, you can look online to see if you’re more modern or traditional, or what of each style you like the most. Luxury homes for sale in Philadelphia range from traditional classic styles to super-modern. We can help you find the right one for you.
- Turn-Key vs. Fixer Upper: Decide how many projects you’d like to take on in your new home. Some buyers like turn-key homes where everything is already done and updated, including decor and appliances. Others like to take on projects where they feel they can add value later. One option might be more money upfront, while another adds time to either DIY or hire contractors.
- School District: Many parents consider this a top priority. Even if you don’t have school-age children at home, many consider this as a factor in resale if you think you’ll be moving again in the next few years.
- Number of Bedrooms: Whether you’re looking for your family now or the family you hope to grow, you should know the minimum number of bedrooms you need to be comfortable.
- Parking: Do you need space for a vehicle or two? Is it important where it’s parked – in a driveway, garage, or on the street?
- Amenities: If you’re looking to buy a luxury condo or apartment, what features outside of your unit do you need to have close by? Think of things like a gym, a pool, a front desk to receive packages. Keep in mind you’ll need to budget for these on top of your mortgage.
Once you’ve made your list of must-haves, you can list the items you’d like to have. These are the things that might make a property more attractive to you but aren’t totally necessary. Whether you’re buying a home for yourself or with someone else, having these lists beforehand will streamline the home buying process. This will help your Philadelphia luxury realtor narrow down which available homes in the area would be the best fit.
Every Philadelphia home buyer has a different budget. Before you start looking at homes, you’ll want to know how much you are able to comfortably spend. If you are looking to finance your home purchase through a loan, your Maxwell Realty luxury real estate agent can help. Your realtor can walk you through what programs you might qualify for and introduce you to a lender that will work with you on pre-approval.
It’s important you are pre-approved so that when the time comes to make an offer, everything is lined up. If you’re not, it can cause delays, and in a hot real estate market that can mean the seller goes to the next offer available.
Choose the Right Philadelphia Luxury Real Estate Agent
When buying a home in Philadelphia, working with an experienced real estate agent is one of the most important factors in finding the right home for you. You want a realtor who knows the Philadelphia real estate market, who understands what you’re looking for, and who has a proven track record of expertise and results. Maxwell Realty has been helping buyers find their starter and forever homes in the Philadelphia area for more than 50 years.
While going to open houses on your own can help you narrow down your tastes and see what’s out there, an agent will bring expertise to the legalities and other important aspects of the buying process. Our agents have access to the best properties in the region and can help you navigate everything from getting a loan, to negotiating an offer, and scheduling necessary home inspections before the deal are finalized.
Call us to speak to an agent and start the journey to buying a home in Philadelphia today.