To rent or to buy for a young, decent salaried, single guy... (Pittsburgh: hardwood floors, apartments)

[Lobick]

Originally Posted by SteelCityRising

At the risk of sounding like h_curtis what's Girl Talk?

How can you live in Polish Hill and not know it's most famous resident? Really?

http://www.nytimes.com/2011/01/09/ma...lk-t.html?_r=1

http://www.time.com/time/specials/pa...864335,00.html

http://www.pastemagazine.com/article...illis-day.html

[WhoIsStanwix?]

Originally Posted by Aqua Teen Carl

You don't know about Girl Talk?

Girl Talk (musician) - Wikipedia, the free encyclopedia

He's the king of mash-ups and he has a following world wide. Also he's playing at AE in June which is sure to sell out. I saw him a few years ago with Wiz and it was a gigantic party.

I guess Wikipedia is back up and running today.

[MisterNiceGuy188]

Hey all. Thanks for all of the replies! You guys are awesome. Btw, I am going to that Girl Talk concert in June, haha.

I think being a landlord would be tough, especially since I work a 8-4ish or5ish during the week. But anyways some folks were asking - I am looking at $200K as a max - give or take some depending.

[SteelCityRising]

Originally Posted by ferrarisnowday

But, if you're willing to "downgrade" a bit to a place like East Allegheny, Troy Hill, Beechview, Park Place, the West End, etc. then it very well may be cheaper to buy. Personally, I think I am willing to make that downgrade. The financial aspect of owning a home is nice, but really I just don't want to have to ask my landlord if I want a dog, or to have someone stay with me for a few months. I like the idea of having a yard or porch that I can use as I like. Heck, even something like painting the walls or installing or removing a shelf would be nice. And there's the ability to run to the laundry room without having to put on pants.

This is exactly my particular train of thought. I'm more than willing to downgrade to a less costly neighborhood into a home that may require a bit of elbow grease if it means I'll be paying less (or roughly the same) monthly for my mortgage, taxes, and insurance combined than I'm currently paying in rent.

ML North would obviously have to practically double his current monthly rent to afford a comparable home in his neighborhood, so for him renting makes more financial sense. For me I can find a 2-BR/1-BA fixer-upper in a not-so-trendy neighborhood that I can pay off in five years.

[markson33]

Renting IMO is just throwing your money away. When you own you can 1) build equity, 2) get depreciation, 3) claim mortgage interest, and 4) hopefully create passive income. On top of that you can put additional money into savings.

Good apt. buildings are also very easy to sell. They are not liquid assets, but you can unload them pretty quick. Also Pittsburgh is a great place to invest - its one of the safest markets in the country.

[PreservationPioneer]

You will save more money by renting if you have your heart set on living in a fashionable, young area of the city. This is because buying a house in "hot" neighborhoods in the East End, South Side Flats, and War Streets/ Allegheny West is more costly than renting, usually.

You might still be able to find a good deal in the South Side Slopes, Lawrenceville, or Mount Washington, which would make buying a home a very sensible decision. These are solid and trendy areas that have seen home value increases, but still present decent values vs. renting.

If you don't mind living in an unfashionable area, such as the West End or eastern suburbs, you can pick up a home for next to nothing, and enjoy saving a great deal of money vs. renting.

[hnsq]

Originally Posted by MisterNiceGuy188

Hey all. Thanks for all of the replies! You guys are awesome. Btw, I am going to that Girl Talk concert in June, haha.

I think being a landlord would be tough, especially since I work a 8-4ish or5ish during the week. But anyways some folks were asking - I am looking at $200K as a max - give or take some depending.

I would look at lawrenceville as a first choice. That fits your price range, and (in my opinion) is going to continue appreciating in value. You can get a place with little to no yard, so much less maintenance, and more than likely make a decent return when you sell it in a few years.

[raubre]

Originally Posted by markson33

Renting IMO is just throwing your money away. When you own you can 1) build equity, 2) get depreciation, 3) claim mortgage interest, and 4) hopefully create passive income. On top of that you can put additional money into savings.

That all depends on if you are currently looking for the right home to settle down in. I think renting is good for your first couple of moves until you really know what you want and where you would like to live. The OP is 23, he's still young he may not be quite ready to own a home yet, he may decide to travel, his interests may change, or his job may require him to transfer. He may decide that he likes soemwhere else better.

[gg]

Originally Posted by MisterNiceGuy188

Hi all! I have read through a ton of threads on this forum and seeing that it is very helpful, I decided to make my own name and finally ask some questions of my own. Nice to be on here with you all.

Anyways, I am a 23 year old professional who grew up in Monroeville, and live here now with my parents. I think that I am in a good position to move out, and have been throwing around ideas about what area to live in. (I spend a lot of time on Zillow and Trulia...) I am looking to buy a home, not rent an apartment, and I have intentions of renting my future home out to others - with or without me living there at the same time.

Who doesn't like the idea of a big yard, two car garage, large house, etc. etc.... The basic definition of suburbia? However, being in my early 20's, I would like to move to an area that is younger and more fun. I like the idea of walking to shops, stores, entertainment just as I did a few years ago in downtown State College. So I believe that brings me somewhere within city limits.

I would like to hear what some of you would have to say about different areas to buy in at the present time. Maybe in the end it makes more sense for a single guy to rent? Let me hear your thoughts.

Thanks for reading!

I haven't read this thread, but wanted to give a little advice. If you are in your 20's and moving out, make sure you think about your nightlife situation. Are you still hanging with your friends from high school and go out a lot with them? If so, you probably should live sort of close to that action or you might feel isolated. I moved from Oakmont to the Northside, which was my first home and felt a big isolated. After I hit my 30's it didn't matter that much, but in my early 20's I still saw my school buddies a lot and it was better to live close.

Buying a duplex and living there for a bit and buying another home would be what an investor would do. With interest rates the way they are and rent rates, that could be the best advise, but you will be living in a home with a shared wall with someone else. That is the only part of it that is questionable. I have done it, but not my cup of tea. It is the smart way to go though. That duplex could pay for your next "real" home.

[Lobick]

Originally Posted by h_curtis

I haven't read this thread, but wanted to give a little advice.

Perfect.