There’s an art to stretching a dollar, especially when it comes to buying a home. Research, naturally, plays an enormous role in getting all the luxuries that you can while remaining within your budget. We found out exactly what you can land, and where to snag it, when you have a $250,000 limit.
In the ritzy areas like Rittenhouse, Fitler Square, and Society Hill you can expect something, well, incredibly cozy. According to Frank L. DeFazio, a realtor at Prudential Fox & Roach, the places with a $250k price tag include “lower end finishes between 300 and 1,100 square feet. Also, studios and junior one bedrooms. Or small two-bedroom condominiums or co-ops.” What you won’t be seeing? “There aren’t any single family homes under $250,000 in these neighborhoods.”
Head over to scenic Queen Village or Bella Vista if you’re looking for a lush neighborhood but want just a little more space than what Rittenhouse can offer. “Here you can get small single-family homes. They're usually trinity style," DeFazio says. “Or you’ll find studio and one -bedroom condos.”
Trek northeast, to Fishtown, an area that has been rapidly gaining popularity, and you can get a little more. “So many folks want to be near the Girard/Frankford intersection and close to all the cool shops, restaurants and yoga studios – but there is a cost to that,” says Chris Somers of RE/MAX. “In the heart of Fishtown, in the low $200,000 range you can be in an updated two-bedroom property. For $250,000 you can get a three-bedroom property, but it won’t be as updated.”
Your budget and your neighborhood are going to be the factors that decide what kind of home you buy. Do your homework and you’ll be sitting pretty in your favorite part of town.