With its rich history, culture, and cities, Philadelphia has much to offer to its inhabitants and is fast becoming a favourite of first-time homebuyers. Although some of the most well-known neighbourhoods, such as Centre City and Rittenhouse Square, might be too costly, some up-and-coming places can offer affordability, neighbourhood appeal, and excellent long-term investment.
Here are five Philadelphia neighbourhoods that are ideal for first-time buyers who want to own a home and see their investment grow.
The old Brewerytown, north of Fairmount, is in great revival. The region was once host to historic breweries, but is now thriving with new development, hip cafes, and office spaces, and is very affordable and vibrant.
Why It’s Great for First-Time Buyers:Port Richmond is a fairly quiet, working-class enclave in Northeast Philly that is starting to get a reputation as a very family-friendly place that has seen some revitalisation on its commercial corridors. It provides an urban small-town atmosphere in its city area.
Why It’s Great for First-Time Buyers:Point Breeze, situated right near Centre City, is now one of Philadelphia's hottest new build neighbourhoods and an attraction for urban professionals. It is an excellent neighbourhood that is near the action, but does not come with the Centre City tag.
Why It’s Great for First-Time Buyers:East Kensington, neighbours with Fishtown, is a combination of industrial aesthetics and artistic vibes. It has been attracting many artists, young professionals and new families due to its low costs and cool style.
Why It’s Great for First-Time Buyers:In Northwest Philly, Germantown is rich in history and great greenery and is also affordable. It has the old architecture and community-based feeling, and is making a bid to entice a new generation of first-time buyers.
Why It’s Great for First-Time Buyers:Philadelphia has plenty of neighbourhoods where you not only get affordability but you get community, potential, and a sense of ownership. These five regions offer savvy opportunities to own a home and long-term equity. Be the first in, and see your area and investment develop.