When purchasing a Philadelphia condo as a pied-à-terre, it is important to ensure lenders view this as a second home rather than an investment property, because that opens the door to much better financing.
Buying a pied à terre in Center City, Philadelphia means deciding whether you want a high-rise with staff or a low-rise with lower fees. For part-time residents, the real question is: how much on? site oversight matters when you’re not in town?
Co-op boards traditionally prefer buyers who plan to live in the home full-time. Their reasoning is straightforward: they want residents who are deeply invested in the building’s day-to-day life, its long-term upkeep, and its financial health.
