If you’re thinking about buying a home in Delaware County, the biggest question usually isn’t where to buy — it’s how much it actually costs once everything is added up.

Most buyers know the purchase price. Fewer understand the full cost of ownership: down payment, closing costs, taxes, insurance, utilities, and the surprise expenses that show up after settlement.

Let’s break it down clearly — no fluff, no national averages that don’t apply to Delco.

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1. Purchase Price: What Buyers Are Really Paying

Home prices in Delaware County vary widely by township, school district, and condition, but here’s what buyers are commonly seeing this year:

• Entry-level homes: low–mid $300,000s
• Move-up single-family homes: $400,000–$600,000
• Highly sought-after school districts or turnkey homes: $600,000+

In areas like Collingdale, Lansdowne, Aldan, and parts of West Philadelphia, buyers are often getting more square footage for the money compared to inner-ring suburbs — which is why demand remains strong.

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2. Down Payment: What You Actually Need

Contrary to popular belief, 20% down is not required in many cases.

Common scenarios in Delaware County:

• 3%–5% down: Conventional first-time buyer programs
• 3.5% down: FHA loans
• 0% down: VA (for eligible buyers)
• 10%–20% down: Buyers prioritizing lower monthly payments

On a $400,000 home, that means:

• 3% down ≈ $12,000
• 5% down ≈ $20,000
• 20% down ≈ $80,000

The “right” down payment depends on your loan type, credit profile, and monthly comfort level — not a one-size-fits-all rule.

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3. Closing Costs: The Expense Buyers Underestimate

In Delaware County, closing costs typically run 3%–5% of the purchase price.

On a $400,000 home, that’s roughly:

• $12,000–$20,000

These costs may include:

• Loan origination fees
• Title insurance
• Transfer taxes
• Escrow setup
• Attorney or settlement fees
• Recording fees
• Prepaid taxes and insurance

Some buyers negotiate seller assist to offset part of this, especially in homes that aren’t receiving multiple offers.

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4. Property Taxes: A Major Monthly Factor in Delco

Property taxes vary significantly by township and school district — sometimes by thousands per year.

Typical ranges:

• Lower-tax areas: $5,000–$7,000 annually
• Higher-tax areas: $8,000–$11,000+ annually

Taxes are often the difference between:

“We can afford this house”
and
“This payment feels tight”

Understanding local tax rates is critical before choosing a neighborhood.

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5. Monthly Housing Costs Beyond the Mortgage

Your monthly payment is more than principal and interest.

Buyers should also budget for:

• Homeowners insurance
• Utilities (gas, electric, water, sewer, trash)
• HOA or condo fees (if applicable)
• Maintenance and repairs

Older homes — common in Delaware County — may require higher maintenance budgets, especially for:

• Roofs
• HVAC systems
• Plumbing and electrical updates

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6. Inspection & Up-Front Buyer Costs

Before you even reach settlement, expect:

• Home inspection: $400–$750
• Radon test (if elected): $150–$250
• Appraisal: $500–$700
• Earnest money deposit: 1%–3% of purchase price (credited at closing)

These are often overlooked when buyers calculate “how much cash they need.”

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7. The Realistic Cash-to-Close Example

Let’s look at a realistic example:

$400,000 purchase price

• 5% down: $20,000
• Closing costs (4%): $16,000
• Inspections + appraisal: ~$1,200

👉 Estimated cash needed: ~$37,000

This number can be lower with seller assist — or higher depending on loan structure.

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What This Means for Buyers and Sellers

For Buyers:

Buying in Delaware County is still achievable — but only if you understand the full picture, not just the list price.

For Sellers:

Buyer affordability directly impacts:

• How many showings you get
• How strong offers are
• Whether buyers ask for concessions

Homes that are priced strategically (not emotionally) attract stronger buyers and smoother transactions.

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Thinking About Buying or Selling in Delaware County?

If you want a real breakdown based on your situation — not an online calculator — I can help.

📩 Message me and I’ll tell you exactly what your home could sell for in today’s market.

Or, if you’re still weighing timing and options:

📩 Message me “SELL” and I’ll walk you through your best options for selling this year.