Understanding the Timeline: Home Buying for Incoming Attendings in Philadelphia

Congratulations, you're graduating from residency and stepping into your role as an attending! But now, it's time to think about more than just your new job – you’re also likely thinking about finding a new home in Philadelphia. Whether you're relocating from out of state or looking to buy your first property here, understanding the timeline of the home-buying process is key to making a smooth transition.

When to Start the Process

Start planning as early as possible! Ideally, you should begin the process of home-buying 3-6 months before you start your new job. This gives you enough time to understand your financial situation, gather necessary documents, and explore neighborhoods.

Financial Prep 101

As a new attending, you’ll likely be receiving a larger salary but you’ll still have student loan and other financial obligations. It's essential to get pre-approved for a mortgage before starting the search so you know your budget. A mortgage broker can guide you through understanding how much house you can afford and help you lock in the best rates for physicians like yourself.

Philadelphia’s Housing Market: What to Expect

The Philadelphia real estate market is unique – combining the charm of historic homes with modern amenities. Whether you're looking to be close to your workplace or in one of Philly’s quieter neighborhoods like Fairmount or Fishtown, there’s something for everyone! Don’t forget to check out the amazing perks of living in Philly – walking to museums, enjoying world-class food, or exploring its beautiful parks!

Key Steps in the Timeline

●     3-6 months before your start date: Secure mortgage pre-approval and make a list of your priorities that you are looking for in a home.

●     2-4 months before your start date: Start viewing homes in person and online with a MedAbode professional who specializes in working with doctors.

●     1-2 months before your start date: Finalize your offer, negotiate the price, and begin the closing process.

By starting early, you’ll avoid the stress of trying to find a home last minute while settling into your new position. It’s all about planning ahead and finding the perfect place to call home as you begin your new chapter.

We’re Here to Help!

At MedAbode, we specialize in helping doctors like you find the perfect home in Philadelphia. We understand your unique needs and the timing involved. Whether it's a spacious home with a quick commute or a cozy condominium near Philly’s vibrant cultural scene, we’ve got you covered.

Get in touch with us today to start planning your home-buying journey. You’ve got enough on your plate – let us take care of the rest!