Ask A Real Estate Agent Oct. 2024
By Brian Teyssier | Brian Sells Pittsburgh
So, in this column, I’m going to talk about how affordability and remote work options are changing the way people live.
There’s an interesting trend happening in the housing market: people are increasingly moving to more affordable areas, much like Pittsburgh, Pennsylvania. Over the years, since COVID, I’ve had people actually relocate to Pittsburgh because it is more affordable. Sometimes it’s to take jobs, but sometimes they take the jobs because it’s more affordable.
Now, obviously, the option of hybrid work or being able to work remotely from home is helping that happen. So, that’s one of the latest trends we’re seeing.
Let’s talk about it, though. Today’s high interest rates, combined with home prices going up, make it tough for a lot of people to afford a home right now. That’s why many interested buyers are moving to places where it’s less expensive—again, much like Pittsburgh, Pennsylvania.
The senior economist at Zillow explains, “Housing affordability has always mattered, and you’re seeing it across the country. Housing affordability is reshaping migration trends.” So, if you’re looking to buy a home right now, it might make sense for you to broaden your search to find a place that fits. You can still maybe find the same physical home that fits, but you might need to broaden your horizon on where.
Pittsburgh, Pennsylvania, is a fantastic option. And within Pittsburgh, Pennsylvania, we have options around the Greater Pittsburgh area. That’s what a lot of other people are doing to help them find homes within their budget.
Extra Space Storage explains, “55% of American adults are looking to relocate to a different state or city for more affordable homes and lower cost of living. Specifically, areas with a strong economy, lower cost of living, and remote work options continue to be the ideal places to live in the United States.” That is a definition of our market here in the Greater Pittsburgh area.
So, it’s obvious remote work opens up more home options. If you work remotely from home and drive to the office only a few days a week, you have many more possibilities when looking for your next home. That’s because you can obviously cast a wider net and include more rural or urban areas nearby—maybe take public transit if needed.
As Marketplace Home says, “People start to reconsider where they want to live when commute times are slashed in half or eliminated altogether. If they have a longer commute but don’t have to do it daily, they may feel like they can tolerate living further away from their job. Or if someone works entirely remotely, they can move to a cheaper area and get a lot more house for their dollar.”
And we’re seeing that here in Pittsburgh. I mean, whenever we first hit the pandemic, people that lived in the city limits moved out to the suburbs, right? And then people from the suburbs moved out to the wilderness—in Pittsburgh, I call it “the cut,” that’s really like farmland, really far out there.
And we’re seeing people who have been in the suburbs, Greater Pittsburgh. They’re wanting to move to a different county because the taxes are cheaper, for example. For a long while, and maybe they did have to move into – driving to work two times a week. This was even before the pandemic we started seeing this. People will relocate a little further out because, in most cities, the further you get away from the dense metropolis of an inner city, the further you move away, you get a little more options as far as distance from your house neighbor and a bigger yard. A lot of people that are raising families, do or have pets, love to have a bigger yard.
So, how can a real estate agent help you? Well, I’m going to have to quote what Bankrate says: If you’re moving far away, you may not have a good idea about which neighborhoods or towns will best be a fit for you. An experienced local agent can help you find the lifestyle you’re looking for in a home you can afford.
So, if you’re thinking about relocating somewhere with more affordable homes, what are you waiting for? I love what Bankrate says: Work with a professional. So, if you’re looking to move to a place that’s a little bit more affordable and easy to commute on a couple of days a week basis, what are you waiting for? Contact me now. Move to the Greater Pittsburgh area, people!
The bottom line is, “If you’re dreaming of a place where you own a home and your money goes further, contact me today. Why is that? Because together we will make your dream of home ownership a reality. Why? #BecauseYouMatter.