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Buying a Home in Pennsylvania: The Process Explained

Monday, June 28, 2021

Over 2 million Americans bought a home last year. Buying a new home is one of the most exciting times in your life. It can also be stressful as it is the largest amount of money you may ever spend on one single thing. 

If you are thinking about buying a home in Pennsylvania there are few things you should know. This guide will provide you with some home buying tips. It will also let you know what to expect during the home buying process.

Home Buying Steps

Your first step when buying a home anywhere is to determine your budget. Chances are you don't have enough money saved up to purchase a home outright. 

That said, you still need to set a budget to determine how much money you need to put down initially when setting up your mortgage. Once you have set a budget you can choose a location.

Your chosen location may influence your budget so you may want to give different locations some thought when determining your budget.

Pennsylvania real estate costs and cost of living, in general, are lower than the national average. This is a great thing for you and could take some pressure off your budget.

Once you have selected a location and set a budget it is time to find a reputable real estate agent so you can start touring homes.

Once you have found your ideal home you can make an offer and your real estate agent can guide you through the specific legalities of the buying process. 

Make sure to only make an offer after getting a thorough property inspection done to make sure you don't find any unwanted surprises in your new home.

Buying a Home in Pennsylvania Specifics

There are some specific things about buying a home in Pennsylvania that differ from real estate laws in other states.

First of all the Pennsylvania Real Estate Commission requires that sellers provide you full disclosure about the condition of the property in question.

This is a Pennsylvania state law and is known as a property disclosure statement form. The seller is required to provide you this form. Make sure to review this form carefully as it lists things such as:

  • plumbing and electrical problems
  • any necessary repairs that need to be made
  • general condition and information about the property

Pennsylvania law also requires that you get title insurance for your mortgage. This ensures that you will not be hassled by previous owners or other parties if anything goes wrong during your home buying process.

Also, Pennsylvania has a state deed transfer tax of 1% of the home's final sales price. Make sure to factor this into your budget.

Besides these minor details, buying a home in Pennsylvania is the same as any other state. Make sure to ask your real estate questions such as: "How long does it take to buy a house?" if you are interested in moving forward quickly.

Enjoy Your New Home

Pennsylvania is a great state full of beautiful scenery and a bustling economy. If you are planning on buying a home in Pennsylvania you picked a great place to start a new life.

Use the tips in this guide to ensure your home buying process is a success. When you are ready to examine some title insurance options for your mortgage, make sure to contact us so we can help!


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