Pittsburgh is one city that everyone wants to move to. Like being one of the most livable cities and having one of the most viable economies, the many accolades have brought new people to the Steel City in droves.
Known for its sports teams, artistic culture, and rich history, there’s no wonder everyone wants to live in Pittsburgh. All of this has the Pittsburgh real estate market booming.
Looking for your own piece of Pittsburgh real estate? This is what you have to know before you buy or sell.
The Market Is in Demand
In recent years, Pittsburgh has dominated best-of lists, so it’s no wonder many people want to get a piece of this city. So what do titles like the most livable city, best cities for millennials, and best places to live mean for housing prices?
It means that the homes in Pittsburgh are in high demand. This means that competition to buy houses can be tough, especially within the city limits.
Homes under $100,000 may not be in move-in ready condition for some buyers, requiring some work after the purchase. If you’re thinking of selling your fixer-upper, pittsburghcashhomebuyers.com has great tips for any seller.
Know Your Neighborhoods
Pittsburgh stretches far beyond the city limits, so it’s important to know the neighborhoods throughout the city. There is a lot of diversity within the city of Pittsburgh, from college students in Oakland to families in Squirrel Hill.
Outside the city, the neighborhoods are categorized by North, South, East, and West. The neighborhoods in these areas are mostly suburbs with larger single-family homes and more green areas.
Being outside the city doesn’t mean you’re away from the action. These suburban areas have shopping districts, restaurants, and attractions, just like the city. Whether you’re planning on buying or selling in the ‘Burgh, it’s worth it to know the area.
Financing in Pittsburgh
Financing is different for every home buyer. Appraisals, credit reports, escrow fees, and title insurance are other financing costs you should speak to with your realtor.
For conventional loans, most down payments are about 5%. Pittsburgh’s title transfer tax is around 5% of the house value, which the buyer and seller would split 50/50. After all fees, closing costs can be around 10%.
When it comes to getting your best financing, Pittsburgh real estate agents know best. Be sure your realtor provides a breakdown of the financing, including closing costs for your price range and the house you choose.
Your Guide to Pittsburgh Real Estate
Pittsburgh, Pennsylvania is a booming city with an industrial history and a rich culture of the arts and sports teams. It’s their own piece of Pittsburgh real estate with such a vibrant place.
Buying and selling in the with such a vibrant place ‘Burgh don’t have to be difficult. But it’s a good idea to go in with some base knowledge. This quick guide to the Pittsburgh real estate market will help you jump in with two feet.
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