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Old 04-07-2011, 10:30 PM
 
781 posts, read 1,615,857 times
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Too many variables for this young family. It would benefit them to slow play purchasing a house. It is a buyer's market and the US is very different than Canada. It also gives them added time to interview numerous realtors and find a good fit before they buy.

I would want to get a really good feel for how all the changes impacted my life before investing: 10K,
25K, 100K, or 300K into anything. Especially in another country.

Making rushed decisions would be very expensive in the long haul.
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Old 04-08-2011, 06:44 AM
 
Location: Gatineau, Québec
26,809 posts, read 37,853,293 times
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Quote:
Originally Posted by Hopes View Post
Utilities might be similar. (However we do pay for our water and sewage here. My girlfriend said they didn't pay for water in Canada or it was a minimal cost if they did. I can't remember. She is from Quebec.)
It varies from province to province in Canada. In Quebec, few municipalities (even the biggest ones) have residential water meters. So you pay a flat rate for your water on property taxes regardless of how much you use.

But next door in Ontario, most municipalities have water meters, even the smaller ones.
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Old 04-08-2011, 07:06 AM
 
Location: Hempfield Twp
780 posts, read 1,380,419 times
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My SIL is currently looking in 450k to 550k range of houses to move back from Houston, TX. She is focused on the north hills. For similarly priced houses in Butler and Northern Allegheny County, property taxes will be almost halved by staying in Butler county (7k vs 13k). As other posters have stated, it will be similar b/w Washington and South Western Allegheny County but maybe not as much a difference. Peters is top notch for schools and would be a nice place to live.

Another thing I have noticed, school districts in Allegheny county tend to appeal property assessments almost immediately after a home sale happens but in the surrounding counties, you almost never hear of that happening.

As far as your budget, you would be talking 3000 sq ft or larger for new construction for that $ down here. You can find a 10-15 yr old 1500 sq ft split entry, raised ranch or split level that has been recently remodeled for < 190k in many areas around PGH (but maybe a little more expensive than that in the areas mentioned). I think you could find plenty of nice homes in the areas mentioned in the 250k range that will give you a little more space, be fairly new and updated and leave you with more monthly disposable income.
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Old 04-08-2011, 09:07 AM
 
Location: Squirrel Hill
1,349 posts, read 3,566,350 times
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Id also advocate renting first. You throw your money away with a mortgage too on taxes, interest, and maintenance. Property values aren't going up enough to make that back. If you decide you don't like it here (concerned by your "trendy" neighborhood requirement this area *might* not be a great fit) then you aren't stuck with a house you don't know what to do with. The fact that you don't understand how interest figures into your tax situation tells me you probably aren't ready to buy and would benefit from some time to figure all this confusing stuff out.

Utilities should be similar. Real estate is cheaper for sure but the taxes on it will likely be 2-3x as much (again... not really an issue if you rent). You should figure out how state, local, federal, and sales tax compares as well.
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Old 04-08-2011, 10:14 AM
 
43,011 posts, read 107,839,661 times
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Originally Posted by Bong477 View Post
You throw your money away with a mortgage too on taxes, interest, and maintenance. Property values aren't going up enough to make that back.
This is the silliest thing I've ever read. In Pittsburgh, property values have never gone up fast enough to make that back for people who own a home for a short time period. You have to own homes for 20 some years for that to happen. It's always been that way here.

The cost of renting is FAR MORE EXPENSIVE in Pittsburgh. It's cheaper to own here. They'll be paying way more money to rent a house the same size and condition as a house they would buy. All of the money they are putting into rent is wasted money. At least you get your mortgage payments back when you sell a house, not so with renting.

Quote:
Originally Posted by Bong477 View Post
You should figure out how state, local, federal, and sales tax compares as well.
For clarification, OP, Bong is referring to income taxes when he says 'state, local, and federal.'
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Old 04-08-2011, 10:43 AM
 
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Ok. Thanks for the clarification. We will be meeting with someone from my company that will be going over all the taxes you pay down there.

I have looked at some rentals and the seem very expensive. I think we are leaning towards buying in Peters. They are building new houses there we like. I am a fan of owning. I am OK with loosing money on taxes/interest but I am banking on the price of my house not falling out from under me. I guess no matter where you live you run that risk. The company I work for will insure me and protect me from certain losses so that will also help.



Quote:
Originally Posted by Hopes View Post
This is the silliest thing I've ever read. In Pittsburgh, property values have never gone up fast enough to make that back for people who own a home for a short time period. You have to own homes for 20 some years for that to happen. It's always been that way here.

The cost of renting is FAR MORE EXPENSIVE in Pittsburgh. It's cheaper to own here. They'll be paying way more money to rent a house the same size and condition as a house they would buy. All of the money they are putting into rent is wasted money. At least you get your mortgage payments back when you sell a house, not so with renting.


For clarification, OP, Bong is referring to income taxes when he says 'state, local, and federal.'
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Old 04-08-2011, 11:05 AM
 
20,273 posts, read 32,945,617 times
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Both renting and buying cost you money, but buying becomes more favorable over time, provided you stay in the same place long enough. That is as true in Pittsburgh as anywhere, although our relatively high rent to price ratio means the break-even point comes sooner than it would in a lot of other places.

Given that, for newcomers to the region, renting for a year or two can still make sense, even if you plan to be around for a while. That is because that gives you the time to get to know the area and make sure you are buying the right place in the right location, which in turn will maximize your chances of staying there a long time. Plus, I think there is always the chance that for some unforeseen reason, a major move to a new city won't stick.
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Old 04-08-2011, 11:07 AM
 
43,011 posts, read 107,839,661 times
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Quote:
Originally Posted by MrSame View Post
...but I am banking on the price of my house not falling out from under me. I guess no matter where you live you run that risk.
As long as you don't overpay for your house, that is very unlikely to happen to you here. Pittsburgh's housing market has always been extremely stable. There aren't busts because there aren't booms. And Peters is a very desirable area because many families living in USC and Mt Lebo are jumping the county boarder into Peters to save on property taxes. If you buy a house for the right price, you don't have anything to worry about.

Quote:
Originally Posted by MrSame View Post
...The company I work for will insure me and protect me from certain losses so that will also help.
That's great!


btw, did you see my post on the previous page explaining what the taxes would be on 150k and 500k houses in Allegheny and Washington townships?
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Old 04-08-2011, 11:10 AM
 
43,011 posts, read 107,839,661 times
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Quote:
Originally Posted by BrianTH View Post
Both renting and buying cost you money, but buying becomes more favorable over time, provided you stay in the same place long enough. That is as true in Pittsburgh as anywhere, although our relatively high rent to price ratio means the break-even point comes sooner than it would in a lot of other places.

Given that, for newcomers to the region, renting for a year or two can still make sense, even if you plan to be around for a while. That is because that gives you the time to get to know the area and make sure you are buying the right place in the right location, which in turn will maximize your chances of staying there a long time. Plus, I think there is always the chance that for some unforeseen reason, a major move to a new city won't stick.
The OP wants to buy. And buying is a wise decision when there are children involved. Parents shouldn't move children around from school district to school district. It's best for parents to do the best research possible and make a committment.
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Old 04-08-2011, 11:28 AM
 
20,273 posts, read 32,945,617 times
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Quote:
Originally Posted by Hopes View Post
The OP wants to buy. And buying is a wise decision when there are children involved. Parents shouldn't move children around from school district to school district. It's best for parents to do the best research possible and make a committment.
I think that depends on whether you can rent in the same school district that would be your first choice for buying. If you can, I would still recommend renting for the reasons I gave. If not, I agree you might have to reevaluate your options.
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