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Buying A House In Pennsylvania – Bankrate.com

The process — and price tag — of buying a house in Pennsylvania can look a lot different depending on where in PA you want to call home. This huge state covers more than 46,000 square miles! So, while data from the Pennsylvania …….

The process — and price tag — of buying a house in Pennsylvania can look a lot different depending on where in PA you want to call home. This huge state covers more than 46,000 square miles! So, while data from the Pennsylvania Association of Realtors shows that the statewide median sale price was just over $219,000 in July of 2022, buying a house in Erie, on the shores of the Great Lakes, is different than buying one in Exton, just outside Philadelphia.

Still, there is one key commonality across the entire commonwealth: It’s a seller’s market. With that in mind, you might be trying to answer a tough question: Should you buy a house now or wait? The answer ultimately comes down to your finances and how long you plan to stay put. If you have great credit and long-term plans to be here, it’s still smart to buy in Pennsylvania. Read on for an in-depth introduction to everything you need to know about saving for a down payment, budgeting for closing costs and competing to win the home of your dreams.

How to buy a house in Pennsylvania

Decide where to live in Pennsylvania

How can you pick just the right spot amidst 46,000 square miles of land? Pennsylvania offers just about everything: rustic living in the Allegheny National Forest area, university charm in State College (home of Penn State), big-city energy in Pittsburgh and Philly.

In addition to what a town can offer in terms of quality of life, consider how much money you’ll need to be able to enjoy your time away from work. Bankrate’s cost of living calculator is a great tool to get a sense of how far your income can stretch in different places. For example, your total costs in Erie, including transportation, utilities, food and other essentials, will be nearly 20 percent lower than they would be in Philly. And here’s a bit of good news if you’re looking for a thriving downtown but don’t have an especially big budget: Pittsburgh topped Bankrate’s most recent list of the nation’s best cities for first-time homebuyers.

If this is your first home, you should also think about how long you want to stay. Are you looking for a starter home to build equity for now before you move on? Or do you want to find a place where you can plant roots and grow with your family? If it’s the latter, be sure to factor in things that might not be on your immediate to-do list but will be down the road, like daycare and schools.

Tips for buying a house in Pennsylvania</…….

Source: https://www.bankrate.com/real-estate/buying-a-house-in-pennsylvania/

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