5 Things First-Time Buyers Forget to Budget For In Philly

Buying your first home in Philadelphia?

What surprise costs catch first-time buyers off guard?

Short answer: Beyond your down payment, there are hidden expenses every Philly buyer should plan for.

1. Closing Costs

Philadelphia has one of the highest real estate transfer taxes in the country. Expect a few thousand dollars at the closing table.

2. Home Inspections

Don’t skip it—inspections help protect your investment, but they do add upfront costs.

3. Condo or HOA Fees

Buying in a condo or certain developments? Factor in monthly fees on top of your mortgage.

4. Moving Expenses

Trucks, packing supplies, and time off work add up faster than you think.

5. Future Maintenance

Older Philly rowhomes may need roof, plumbing, or heating updates. Keep a buffer for unexpected repairs.

Being a first-time homebuyer in Philadelphia comes with more costs than just your mortgage. Budget smartly so you can enjoy your new home stress-free.

👉 Ready to start your Philly home search? Browse listings or book a call with KG Real Estate today.