Real Stories

Young Couple Takes Advantage of Buyer Opportunities

Lauren and Craig decided to look for a modern house close to their families and their jobs in Philadelphia once they found out about special buyer opportunities, like the first-time home buyer tax credit and the increased Federal Housing Administration (FHA) loan limits. 

“We heard that interest rates were low, that a tax credit was available, that there were a lot of houses on the market to look at, and that it was a good time to make the most of our budget,” said Lauren. “That’s why we decided to look for our first home.”

Lauren advises other potential buyers to take advantage of the unique opportunities and tax incentives available for buyers today. 

Lauren and Craig worked with their REALTOR®, Nanci, and quickly learned what to expect when looking at a home.  By examining a home’s condition, the couple found out which physical characteristics they could change, how long it would take to do so, and which issues may need too much repair that it would be best to avoid purchasing the home.  For example, changing a floor from carpet to wood was a task they were willing to tackle, but they decided not to tackle older homes that needed plumbing or electrical upgrades that would not fit within their budget. 

After two months of house hunting, the couple submitted an offer on a new townhouse in Voorhees because it offered a lot of living space, didn’t require many renovations, and was the modern home they were looking for.

“Once our offer was accepted, there was a lot of paperwork to fill out, and a lot of paperwork of our own financial history that we had to find,” Lauren said.  “Because the mortgage pre-approval came so quickly, I didn’t expect the actual approval process to take long.”

But moving into their first home made the process worthwhile.

“We’re really happy with our purchase,” Lauren said.