Thinking about buying in Pittsburgh. (Economy, California: rentals, houses, neighborhood)

[Tallysmom]

We are about three or so years away from quitting the business, and I keep thinking about coming home. Rates are the lowest they've been in YEARS, so we were thinking about maybe buying the house now and renting it out until we are ready.

Are houses (and I'm thinking in the 150 -200K range, and modernized to our liking, which means no stainless and more than likely Zodiaq rather than granite) rentable? What I've always heard is that rent is higher than buying so people usually buy, so I might have to take a little negative cash flow on the house? I can do that, but I don't want to sacrifice our savings plan to do so.

Are there management companies that I can pay to handle this, since we are out here in California?

I'd be looking more in the North area, since that's where family is -- Ben Avon-ish. North Hills-ish. More suburban than urban, with lots of walking and biking areas -- more trails and roadside than sidewalk coffee shoppy.

[Goodjules]

Does this mean I might have another Bay Area refugee joining me in Pittsburgh?

[Tallysmom]

Originally Posted by juliegt

Does this mean I might have another Bay Area refugee joining me in Pittsburgh?

Oh yeah -- people are SO flakey out here. We're the staid ones that people call when they need help, but when we need help... they don't know us. It's sad really -- if something dire would happen to my husband, I'd be alone. Don't like to think about that at 53, but my mom was my age when Daddy died. So it's on my mind.

At least back there, I'd have my sisters and nephew and nieces.

[Hopes]

Woohoo! Tallysmom is coming back!!!!

You can rent anything out here. Granite isn't common in that price range.

I doubt your negative cash flow will be much. You might luck out and break even.

Can you have one of your relatives handle the rental management? That will help you keep your cash flow even.

[greg42]

Tell ya what, I'll sell you my house and you can rent it back to me. It's in Economy Boro though.

In some places in the north a rental house would be a rare thing and command a premium, but you probably wouldn't find a house in that price range in those places. Maybe at the high end. I'm thinking places like Cranberry, anything in the N. Allegheny school district, etc. People are often enough on here talking about rentals in those spots and rentals are few and far between. That said, they're often looking for larger ones which again would be out of your price range. So maybe that wouldn't necessarily be a compelling reason to choose a house in those spots.

[goodgirl49]

I hope you get your wish to come back home, Tallysmom! I think you would be happier where most of your family is.

[ebyrnes]

Come on back! There are lots of cats here in Pittsburgh who need some love (and I hope that I am remembering properly that you are a fellow cat nut).

[Hopes]

She's got indoors and outdoors and ferals too!

[Tallysmom]

Originally Posted by Hopes

Woohoo! Tallysmom is coming back!!!!

You can rent anything out here. Granite isn't common in that price range.

I doubt your negative cash flow will be much. You might luck out and break even.

Can you have one of your relatives handle the rental management? That will help you keep your cash flow even.

Really? Heck they put it in everything out here. I live in a bad neighborhood with cheap housing and a lot of it is outfitted with granite and stainless....

[Hopes]

Originally Posted by Tallysmom

Really? Heck they put it in everything out here. I live in a bad neighborhood with cheap housing and a lot of it is outfitted with granite and stainless....

Most of the kitchens in that price range will be 1970s retro. Pittsburghers aren't very trendy. Someone will rent whatever you buy.