How to buy a house in Pittsburgh (Oakmont, Fox Chapel: real estate, lease)

[noblerare]

Hi everybody, complete newbie here to the Pittsburgh market. We currently live in Highland Park with my wife working in Bakery Square and me working out in Monroeville.

The place we are renting now has asked us to renew our lease for a year (month-to-month not an option) and will terminate at the end of July (7/31/2019). We have been talking about potentially buying a house.

I have a few questions for the community here:

1) Between now and the end of July, is that too aggressive in finding a house? We don't want to be homeless by the end of July.

2) What are some areas as close to the city as possible that have a good mixture of price and good school districts? Some of the places I've been hearing is Fox Chapel and Aspinwall but would like to hear others.

3) Any other tips or advice that you would give to first-time home buyers?

[eschaton]

Originally Posted by noblerare

1) Between now and the end of July, is that too aggressive in finding a house? We don't want to be homeless by the end of July.

The big rush of homes comes on the market in about a month, because most people prefer to move during the summer (partially for school related reasons). I don't think that sounds aggressive, as long as you aren't too picky.

Originally Posted by noblerare

2) What are some areas as close to the city as possible that have a good mixture of price and good school districts? Some of the places I've been hearing is Fox Chapel and Aspinwall but would like to hear others.

Do you actually have kids? Buying for school district seems kinda silly otherwise. Unfortunately the eastern suburbs are for the most part worse than the city when it comes to schools, so moving to be closer to your work won't really help.

Also, you can't say "good price" without listing your price point.

Originally Posted by noblerare

3) Any other tips or advice that you would give to first-time home buyers?

Get an agent you trust, and don't go anywhere near the maximum mortgage that your income allows.

[noblerare]

Thanks for the reply. We would prefer to stay as close to the city as possible. I don't care *that* much about closeness to Monroeville because (depending on the location), I can hop on the turnpike and be out there fairly quickly.

We don't currently have kids but may be looking to within 2-5 years. Also, it will make selling the house that much easier if and when we decide to.

Our price point is between $200K - $400K.

[Knepper3]

All good points from eschaton, and finding something to close before July 31 is very doable. Most loans take 60 days to close (could be quicker down to even 30 if no issues) so realistically you would want to have an offer accepted by late May. Personally I wouldnt even start looking until later next month unless you were able to break your lease early or willing to have a home plus the lease. Finding something you love now likely won't be around in a month or two. Before you start seriously looking get a pre approval, they are usually good for 60-90 days. Most offers require preapproval and if you find a home you want to put in an offer right away you dont want to add to the wait though many good lenders can get it right away if needed.

[caroline2]

The FC district is indeed a good place to start looking, with not only a good mix of prices but also a mix of home and lot types. You can do anything from dense to rural and still be in the district, and it's very easy to get to both the turnpike and Bakery Square.

End of July is not too aggressive at all.

[Charley Barker]

Good advice above. I would add Blawnox, and Ross Twp. You could buy the nicest houses in these townships with that budget. My wife always maintains that even if you don't have kids, the quality of the town is often dictated by the quality of the schools. Good schools = good students = good neighbors. I agree to some extent.


I would also plug the realtor we had, Liz Swartz from Howard Hanna in Squirrel Hill.

[guy2073]

Ask to have a buyout added to the new lease or ask to be on a month to month with a slight rent increase. You have to give the landlord an incentive. You can then look all you want without being pressured

[eschaton]

Originally Posted by noblerare

Thanks for the reply. We would prefer to stay as close to the city as possible. I don't care *that* much about closeness to Monroeville because (depending on the location), I can hop on the turnpike and be out there fairly quickly.

We don't currently have kids but may be looking to within 2-5 years. Also, it will make selling the house that much easier if and when we decide to.

Our price point is between $200K - $400K.

If I were you, I'd stay in the city and look in Greenfield. You can get on 376 easily there to get to Monroeville. Sure it's the wrong side of the tunnel, but it's also a reverse commute. Your wife's commute would be a tiny bit longer than now, but still only around 20 minutes or so. Greenfield K-8 is a fine neighborhood school, and real estate prices have been appreciating. Or heck, at the higher end of your price range you could afford a house in Squirrel Hill, which would be a slightly better commute for your wife and the most well regarded neighborhood school in the city.

The Regent Square area would probably be ideal from a commute perspective, and you'd get decent appreciation, but the local school situation except for the part in the city isn't great (nor are the taxes). Most of the rest of the eastern suburbs are kinda stagnant to declining in terms of property values, except maybe Oakmont, so even though this area is equidistant between your jobs, it's not the best place to locate.

[Knepper3]

Originally Posted by noblerare

Thanks for the reply. We would prefer to stay as close to the city as possible. I don't care *that* much about closeness to Monroeville because (depending on the location), I can hop on the turnpike and be out there fairly quickly.

We don't currently have kids but may be looking to within 2-5 years. Also, it will make selling the house that much easier if and when we decide to.

Our price point is between $200K - $400K.

I think that range opens a lot of options but what is important outside school and commute? Any other preferences? I think Fox Chapel might not be a bad commute for her but its still a decent commute for you even taking the Turnpike unless you were more east.


Ross (or even Shaler), I'm not sure I would want to commute to Monroeville everyday, that's a drive and if you had construction/accident issues I can only imagine.


I'd agree Greenfield/Squirrel Hill would give you the best commute, with your upper price you might not have the pick of any home but you would have a decent amount of options especially as homes come on the next month or two. But that is if you dont care much outside of Commute/Schools Rankings.

[jea6321]

Originally Posted by noblerare

Also, it will make selling the house that much easier if and when we decide to..

thats not entirely the case in our market. Houses in lower ranked school districts tend to still sell quite easily if its in a popular area. The regent square area is a great example as well as a lot of the city proper.

I would agree that Greenfield could be a good choice. additionally id suggest just picking the area you like personally since you don't have kids and it seems that you have at least 5-7 years before even having to consider thinking about schools. A lot can change in that time and perhaps you even want to move again. Also, the city elementary schools don't have nearly the bad rep that the high schools have. So in essence you could really have upwards of 15+ years before needing a good school district. There is a good chance by that time neither of you are even working in the same location as now.

I almost always tell people to buy where they want to live today. Using your current job(s) as the basis of a home purchase rarely is the best decision.

also consider that if you buy something now in an area you like to live, you could hang onto it as an investment property when its time to move on for the kids. City properties are in my opinion, a very good investment for the next 10+ years to come.