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Five Best Neighborhoods for Investors in Philadelphia

By Tiffany Raiford

The City of Brotherly Love is one in which many people want to live. It's got plenty to offer those of all backgrounds, cultures and lifestyles. It is here that you will find historic homes close to downtown neighborhoods, gated communities with stately McMansions and neighborhoods with an eclectic mix of homes that appeal to many. If you're an investor looking for homes in Philly, you'll want to know which neighborhoods are best for your future venture. Fortunately, there are several.





Roxborough

It's a neighborhood located in northwestern Philly along the edge of the Schuylkill River. This makes it prime real estate just because people love proximity to water and water views. While the neighborhood is in overall great condition, it's an area growing in population. For this reason, the home prices are continuing to rise though they're still quite low. Investors have a great chance of picking up a home or townhouse for a low price, providing it with a few minor upgrades and listing it for significantly more in next to no time at all. Chances are good it will be snapped right up as many buyers want high-end upgrades they don't have to bother with on their own.

Rittenhouse Square

This is one of the most popular neighborhoods in all of Philadelphia. It's the main attraction in many films. It's also filled with parks, nightlife and entertainment that residents love. The residential area is hugely popular with the younger crowd, those looking to live right in the midst of the action. However, since many of the residential buildings are a bit older, there are plenty in need of updates. Investors can pick up property for an affordable price, fix it up and make a significant sum off the sale. Young people are in the market for all the bells and whistles, which means they want what investors have to offer.

West Mount Airy

With affordable housing costs and safe streets, families love the West Mount Airy neighborhood. There are plenty of different housing options to choose from, which means everyone will be satisfied. For investors, it's a great neighborhood to pick up a home at a reasonable price. There are plenty of foreclosures and short sales in need of minor work that can be relisted for a higher sales price in West Mount Airy.

Overbrook

Investors looking to enter the Philadelphia market should consider Overbrook. The average home price is a mere $135,000 which makes it affordable from the start. While you can pay this price, there are plenty of residences for sale much less than this. The work needed to fix them up is often minimal, but the pay off is worth it in the end. It's an up and coming neighborhood that's convenient to much of what Philly has to offer residents, which only adds to its investment appeal.

Washington Square West

One of the most up-and-coming neighborhoods in Philly, Washington Square West has seen one of the most significant increases in the price of homes in the past year. One year ago, the average home sold for just over $300,000. Today, the average home price is well over $700,000. While it might have been much more affordable to invest here a year ago, prices are only rising on a continuous basis. Investors who can pick something up now will see a return in the near future.

Investing in property in Philly is something many people are interested in doing. It's affordable in most neighborhoods and each one is continuously growing in population. If this is a road you've been considering, now is the chance to buy and make a profit.

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