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Old 03-19-2019, 09:15 AM
 
Location: Squirrel Tree
1,199 posts, read 724,997 times
Reputation: 516

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It has come to my attention that some people I know who recently bought in Philly stay in the Fairhill and Kensington neighborhoods within a budget of 20-50K outright for a small home which is perfect for my budget. The relevant MFL train stops are Somerset, Huntingdon and Allegheny. I am looking for plan B in case the landlords force me out.

Google street view as well as my travels in the area indicate that this is a nice and up and coming place similar to my area in NYC but is more spread out with shabbier housing stock. I do not have a problem with wandering heroin addicts but I have heard negative things about the PCP and Bath Salt smoker community. Is Wet a problem there?

My Spanish fluency is fair to middling. Also, I notice that there are very few stores in this region compared to NYC. What are your thoughts about this area?

Do you live near here? Is the neighborhood rich in day jobs for someone from an accounting background, and are there fun places to hangout such as Walmart, library, art galleries and malls. Is Fine Fare supermarket overpriced like it is in NYC? What is clothes shopping like. I have seen Rainbow but I prefer Goodwill.

When are you moving?
- Next 5 years

Where are you coming from?
- NYC 10460

Why are you moving?
- To get more space

Where will you be working?
- accounting firm and also guitarist and piano teacher

Have you been here yet?
- Many times.

Will you buy or rent?
- Buy / 30K budget, rent up to 600 is fine. Prefer to spend maximum of 10% of my income on housing.

Are you married or single? Do you have children?
- Thinking of having a kid when I get a steady partner but not going to marry formally because it's a scam.

Do you prefer public or private schools?
- Public school and a prep/cram school on the weekend for the kid.

Do you have pets?
- Interested in squirrel rescue

Do you want or need a yard?
- Uh maybe? If they let me grow pumpkins on the lawn

Are you keeping a car?
-Idk

Do you want to live with people of a similar age, race, religion or sexual preference or do you prefer a diverse neighborhood?

- As long as people aren't prejudice it's fine.

Favorite Beverage - Craft Beer, wine, water?

- Diet Coke

Last edited by fatsquirrel; 03-19-2019 at 10:41 AM..
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Old 03-19-2019, 11:01 AM
 
Location: Philadelphia
11,998 posts, read 12,934,015 times
Reputation: 8365
Fairhill is the poorest neighborhood in the city---amenities will be lacking, although you will find some great local food.


Homes do sell for 30k but be prepared to pay in full, have to do a lot of work on it and compete with investors.
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Old 03-19-2019, 11:07 AM
 
Location: Squirrel Tree
1,199 posts, read 724,997 times
Reputation: 516
Quote:
Originally Posted by 2e1m5a View Post
Fairhill is the poorest neighborhood in the city---amenities will be lacking, although you will find some great local food.

Homes do sell for 30k but be prepared to pay in full, have to do a lot of work on it and compete with investors.
Ok cool. I see now that is why it's so affordable. Thanks. I am going to fix the house when I get it. Do you live in, or did you grow up in Fairhill? My main interest is maximal LCOL

Last edited by fatsquirrel; 03-19-2019 at 11:28 AM..
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Old 03-19-2019, 11:46 AM
 
Location: Philadelphia
11,998 posts, read 12,934,015 times
Reputation: 8365
Quote:
Originally Posted by fatsquirrel View Post
Ok cool. I see now that is why it's so affordable. Thanks. I am going to fix the house when I get it. Do you live in, or did you grow up in Fairhill? My main interest is maximal LCOL
No, I grew up and live in Mt. Airy/Germantown. If you feel a connection to the neighborhood or really like the vibes there it is probably a very good long term investment, and the COL will be very low.
Otherwise you could also expand your search look in other neighborhoods (although some of the homes in these neighborhoods have been increasing significantly)---Mantua, Grays Ferry, Strawberry Mansion, Kingsessing. If you don't mind being further from Center City Germantown is definitely an option. As you can see, I have a slight bias toward West of Broad--only because I know it much better. Hopefully someone will reply that knows more about Fairhill/Kensington. Port Richmond is actually a great neighborhood, so you may want to try to get as close as you can (or the other direction Fishtown/Northern Liberties).


I'd focus on trying to get a small mortgage or larger personal loan if you don't have the cash for a house less than $100k. I had similar goals when I was looking for my home ~10 years ago (low COL/housing payments) and found a home that needed kitchen/bath redone but had strong bones, and was actually able to get a mortgage.
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Old 03-19-2019, 11:50 AM
 
Location: Squirrel Tree
1,199 posts, read 724,997 times
Reputation: 516
Quote:
Originally Posted by 2e1m5a View Post
No, I grew up and live in Mt. Airy/Germantown. If you feel a connection to the neighborhood or really like the vibes there it is probably a very good long term investment, and the COL will be very low.
Otherwise you could also expand your search look in other neighborhoods (although some of the homes in these neighborhoods have been increasing significantly)---Mantua, Grays Ferry, Strawberry Mansion, Kingsessing. If you don't mind being further from Center City Germantown is definitely an option. As you can see, I have a slight bias toward West of Broad--only because I know it much better. Hopefully someone will reply that knows more about Fairhill/Kensington. Port Richmond is actually a great neighborhood, so you may want to try to get as close as you can (or the other direction Fishtown/Northern Liberties).


I'd focus on trying to get a small mortgage or larger personal loan if you don't have the cash for a house less than $100k. I had similar goals when I was looking for my home ~10 years ago (low COL/housing payments) and found a home that needed kitchen/bath redone but had strong bones, and was actually able to get a mortgage.
Another reason for my interest in Fairhill and associated areas is my interest in subletting to Temple students because there are a lot of students there.
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Old 03-19-2019, 01:01 PM
 
2,557 posts, read 2,681,266 times
Reputation: 1860
For schooling, you should try to have your child do cyber school (they are allowed in PA state) as the local school catchments for the areas you are living in are arguably not favorable. Elementary you might be more okay, but as the children get older, environment can be that much of a bigger factor.
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