Moving to Philadelphia in a few months looking to buy. (apartment, city hall)

[redmatador753]

Hi I'm moving to Philadelphia in the next few months. I'm thinking of buying a small studio condo or renting a small studio apartment. I have narrowed down my preferred location to city center.

I'm looking at similar condos to this one. But I hesitant since they seem cheap compared to anything else. Anybody has any experience or has a suggestion of where else I should be looking? Thank you.

[url]https://www.redfin.com/PA/Philadelphia/1324-Locust-St-19107/unit-731/home/38024645[/url]

When are you moving? Jan 2023
Where are you coming from? Upstate NY
Why are you moving? Work
Where will you be working? NJ
Have you been here yet? Nope

Will you buy or rent? Buy or Rent small condo
If buying, are you looking for a house or a condo? How much can you spend? Condo, I can spend up to 200k. I don't need much space maybe more than 350 sq feet.
If renting, are you looking for an apartment, a townhouse or loft? How much can you spend? Small apartment, I can spend upto $1500.
Do you prefer hi-rise or walk up?

Do you have a preference of living in a NJ or PA suburb? No suburbs, want to live near city center.
(If you answered NJ - post your answers here: //www.city-data.com/forum/new-j...-philadelphia/)

Are you married or single? Do you have children? Single, no children.
Do you prefer public or private schools? No schools.
Do you have pets? Nope.
Do you want or need a yard? Nope.
Are you keeping a car? Yes, need to commute for work.
Do you prefer bustling activity or calm and quiet? I want to be able to walk everywhere.

What do you want to be closest to?
Nightlife and Basic services (supermarket, drugstore, etc.).

Do you want to live with people of a similar age, race, religion or sexual preference or do you prefer a diverse neighborhood? Don't have a preference on this.

Favorite Beverage - Craft Beer, wine, water? Beer St Bernard ABT 12, Liquor Tequila and Vodka.

[Tweb66]

You just need to take into account the HOA fees. Center City is loaded with "cheap" condos with HOA fees, even for a studio of a tiny 1 BD, of like 500 dollars per month. But the listing price seems in line with what you'd expect for that size at that location.

[MarketStEl]

If you can get by with a one-room efficiency apartment, then you're going to be hard-pressed to beat the one you gave as an example for convenient location.

Tweb66 is right about the need to take the condo fees into account, but in this case, even after you tack on the $456/month condo fee, your monthly payment will be pretty damned reasonable for a Center City apartment.

There are also some co-op buildings west of City Hall where units go for that little. The hitch with a co-op is that the owners of the co-op (or their board of directors) have to approve your purchase before it can go through.

[Redddog]

I love that beer.

[Redddog]

Originally Posted by MarketStEl

If you can get by with a one-room efficiency apartment, then you're going to be hard-pressed to beat the one you gave as an example for convenient location.

Tweb66 is right about the need to take the condo fees into account, but in this case, even after you tack on the $456/month condo fee, your monthly payment will be pretty damned reasonable for a Center City apartment.

There are also some co-op buildings west of City Hall where units go for that little. The hitch with a co-op is that the owners of the co-op (or their board of directors) have to approve your purchase before it can go through.

Utilities and the gym make that HOA pretty damn reasonable. I live in a loft with a roof-deck as the only amenity and I pay $540/mo.