Prices in Pittsburgh are very affordable, but $50,000 may be a bit
misleading. As with anywhere, location, size and condition play a
significant role. In my neighborhood, most homes are still going for under
$100,000. In areas like Squirrel Hill, you'll find million-dollar homes
(as well as more affordable homes). Areas that are experiencing a
resurgence (such as Lawrenceville) have a range of prices, but are still
The cost of living is a very appealing aspect of Pittsburgh. When my wife
and I bought our home, our monthly mortgage payment was lower than what we
had been paying for rent (which wasn't a lot).
Would I buy it? No.
Should you buy it? Maybe.
Worst case scenario, can the house be taken down and the property still be
worth the price paid?
Can you live in it for a few years "as is" and do what work is needed? Will
that increase the value over cost?
Sounds like it will need some work, perhaps major. Can you handle that
emotionally as well as financially?
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