Tue. Sep 26th, 2023
    Buying a Home in Pittsburgh: When is the Right Time?

    When searching for the perfect home in Pittsburgh, it’s important to consider the right time to buy. According to Molly Aura and Paul Sinnett of Berkshire Hathaway, the answer is simple: buy when you can afford to and when you find a house that suits your needs.

    Data from the West Penn Multi-List reveals that the median sales price for a home in Allegheny County was $230,000 in August 2022, which has increased to $236,625 this August. Despite the current high interest rates (7-7.5%), there are still opportunities for buyers.

    To navigate the buying process, Aura advises finding the right agent who will advocate for you. Negotiation is key, and a skilled agent will help you take creative risks while keeping you in control. It’s important to understand that the highest cash bid doesn’t always guarantee success. Knowing the seller’s needs can give you an edge, and healthy deals often involve compromise.

    Sinnett suggests exploring programs and grants that can cover your down payment or closing costs. While browsing online and attending open houses, he recommends conducting your own research. Take advantage of tools like Google Street View to get a virtual tour of the neighborhood at different times of the day, including during bad weather.

    Pittsburgh is a great city for first-time homebuyers, with many properties available in the $150,000-$200,000 range. Here are a few examples:

    1. 139 Locust St., Emsworth: This 3-bedroom, 1-bath Colonial-style home is located just 10 miles from Downtown. It features an updated kitchen, built-ins, and a fenced-in yard. Asking price: $199,900.

    2. 204 Sandy Drive, Shaler: A one-level Ranch-style home built in 1955. It offers a spacious living room, eat-in kitchen, and a finished lower level. Asking price: $179,900.

    3. 20 Regina St., South Side: This fully renovated 2-bedroom, 1-bath home on a dead-end street provides city views. It includes a brand-new kitchen and is close to SouthSide Works. Asking price: $200,000.

    While the timing of buying a home is ultimately up to the individual, affordability and finding the right property should be the top priorities. By working with a knowledgeable agent and doing your own research, you can make an informed decision and find your dream home in Pittsburgh.

    – Molly Aura, Berkshire Hathaway
    – Paul Sinnett, Berkshire Hathaway
    – West Penn Multi-List
    – Zillow