want to buy a small condo, please help (Pittsburgh, Oakmont: for sale, real estate)

[useasbackup]

I've worked in Pgh for two years and currently renting with two other roomates. I'm thinking about buying a small 1-br condo/ appartment(< 1000sf) for the following reasons: 1. it'll be cheaper than buying a house. 2. I don't need to maintain a lot of things myself. 3. I'm thinking if I might need to move later, it's probably easier to resell...

I did some search and found that most 1br condos are even more expensive than a house, also there're not a lot of condos for sale... anyone know a good condo on sale now? and any opinions welcome. I'll be a first time buyer.thanks.

[jfer]

In what area? In the city, I think this might be hard to find. There are lots of condos and townhomes for sale in my area- South Fayette/Bridgeville.

[Tallysmom]

Originally Posted by useasbackup

I've worked in Pgh for two years and currently renting with two other roomates. I'm thinking about buying a small 1-br condo/ appartment(< 1000sf) for the following reasons: 1. it'll be cheaper than buying a house. 2. I don't need to maintain a lot of things myself. 3. I'm thinking if I might need to move later, it's probably easier to resell...

I did some search and found that most 1br condos are even more expensive than a house, also there're not a lot of condos for sale... anyone know a good condo on sale now? and any opinions welcome. I'll be a first time buyer.thanks.

Check with a reputable real estate agent -- you may find that a condo DOESN'T sell easier than a house, unless it's in a hot hot area that everyone wants to move into. Which is why they are prbably more expensive.

You may also find that the monthly homeowners dues are higher than if you bought a small house and hired a landscaper and a cleaning service. And at least your cleaning service would clean your house, and not just your hallways and common areas.

[PeterRabbit]

When it's time to sell, the market for a one bedroom will be extremely small. Go for at least two. On Howard Hanna site there are two bedroom condos in Oakmont starting at $107,000.

[Copanut]

There are plenty of 1 br condos in the North Hills area under 150K. However, as others have mentioned, the market for 1 bedroom dwellings is limited. Also, how long are you planning to live in Pgh? Making money on ANY property is tough in this area, let alone a one bedroom condo. And trust me, should you get married, you'll be outta there in a flash.

[useasbackup]

thanks everyone. I checked out on realtor's website and found a lot of condos that are sold under 15K. basically at southside, downtown, strip. some 1br only costs 11k.

the reason I'm considering buying a 1br is if I buy a small condo around 12K, I can pay 4K down payment now, and for $1000/ month (almost as equal as rent), then I can have the place after 8 yrs... If I get married, I can still rent it out,right? If I move to other cities, I might be able to resell? (probably it's hard as people say).

I've another questions if anyone knows.
1. how much percentage I need to pay to realtor to have the place sold if I leave Pgh before the mortgage are paid off?
2. maybe I should also consider buying a small house? ... I do love backyards, but all the houses seem too big or too expensive for me now (>20k...)

thanks a lot.

[Copanut]

Whoa, are saying 11K or 111K? A condo for 11 thousand?

Check that out again. How about posting that site, I'd love to see it.

[useasbackup]

Chatham Tower Condominiums - Pittsburgh, PA, 15219 - Citysearch

1br at this bldg is sold a little over 10k. but heard a lot of noise at this place

[useasbackup]

Pittsburgh Real Estate and Homes - Homes and Real Estate in Pittsburgh PA - Prudential Preferred Realty

[Copanut]

OK, that's 100K, not 10K. And you'll pay about 550 bucks monthly fee in addition to the mortgage.