From Renter to Owner: A Smart Transition in Philly

Thinking of trading your lease for a set of keys?

If you’re currently renting in Philadelphia and wondering how to make the jump to homeownership, there’s a clear roadmap you can follow and with the right guidance from KG Real Estate, you won’t have to go it alone.

Why now might be the time

Renting gives you flexibility, but ownership offers stability and investment value. And in Philly you’re not alone: the city’s own programs like the Philly First Home grant provide significant assistance, up to $10,000 (or 6% of purchase price) for eligible first‑time buyers.

So if you’ve been paying rent and thinking “what’s next?”, let’s map it out.

Step 1: Get your finances lined up

• Start with your credit score and debt load: Lenders look closely at both.
• Save for down payment + closing costs: even with grants, you’ll want buffer.
• Think about how your current rent compares to a mortgage + taxes + maintenance, homeownership has new costs.

Step 2: Leverage Philly‑specific resources

Since you’re in Philadelphia, you’ve got an edge:

• The Philly First Home grant can help with down payment or closing costs.

• Housing counseling agencies (like Urban League of Greater Philadelphia) can walk you through the process from renter to buyer.

  Working with KG Real Estate means you’ll tap into local knowledge, not just generic national info.

Step 3: Work with the right team (yes, that includes a rental‑to‑buyer mindset)

As a renter moving into buying:

• Pick a real estate agent who understands both renting and buying transitions.
• Choose a lender familiar with first‑time buying programs.
• Use your rental history as proof of responsibility, it can help.
• Keep your lifestyle goals in view (location, commute, resale potential) you’re investing in a home, not just a place to stay.

Moving from renter to owner in Philadelphia is absolutely possible. With the right prep, local resources, and a team like KG in your corner, you’ll be turning your monthly rent payment into an investment.

Ready to take the next step? Whether you want a roadmap, lend‑pre‑approval checklist, or to explore down‑payment assistance, let’s do it together. Book a call with KG Real Estate or download our Renter’s Exit Strategy guide to get started.

Let’s open that door together.