Buying February 18, 2023

Four Benefits of Pittsburgh Home Ownership

There are many benefits to Pittsburgh homeownership. Homeownership has long been considered the American Dream. It can mean different things to different people. There has been a steady rise in homeownership since the 1900s.

Let’s take a look at four benefits of Pittsburgh homeownership.

Financial Benefits

The most apparent benefits are financial benefits. A home purchase is one of the most significant financial investments one will make in their lifetime.

The benefits of investing in a home are:

Strengthening Credit

Making your home mortgage payments on time consistently will build your credit rating, which allows you to obtain other types of credit, like purchasing an automobile or investing in other properties. In addition, as you pay down your mortgage, your credit score will almost always increase.

Fixed Housing Cost

A fixed monthly payment helps you budget your monthly income more consistently. Your landlord can increase your monthly payment at determined intervals when you rent. With a fixed-rate mortgage, your principal and interest payment remain the same throughout the life of the loan.


Each month, a portion of your mortgage payment goes to paying down the principal amount. Equity is the difference between what you owe on your mortgage and the current value of your home. Over time, appreciation and the decrease of your principal amount will increase the equity in your home. You can leverage the equity for other financial needs.

Personal and Emotional Benefits

Home has become our haven, primarily through the pandemic. Homeownership has become more important to us throughout the pandemic.


Through the pandemic, our homes became our offices, schools, gyms, churches, synagogues, and a place to eat, sleep and be with family.


Many homeowners felt a sense of safety in their homes throughout the pandemic by controlling any potential exposure. As a result, people found refuge in their homes.


Our homes have gained more significance in our lives. More homeowners admit they love their homes more now than they did pre-pandemic.


According to a study by the National Association of Realtors, more people feel they have better health due to homeownership, having more control over their lives, and higher self-esteem.

Social Benefits

Achieving the American Dream has long been associated with success. But owning your home also provides some social benefits.


Living in a community provides a level of stability. Homeowners are vested in keeping the community vibrant and contributing to maintaining property values. Many become involved in community organizations and government to improve their neighborhood’s livability.

Financial Education

As homeowners gain the financial knowledge that comes with homeownership, they will likely pass this down through the generations.  This unexpected benefit of homeownership can change generations as parents teach their children the importance of managing mortgage payments.


Community involvement is part of Pittsburgh homeownership, but having a place to unwind in private is also a benefit many homeowners enjoy. You control when you invite others into your home and when you just need an evening of quiet enjoyment.

Tax Benefits

Our tax laws have changed, but some tax benefits are still available for homeowners. The IRS Publication 530 outlines the tax information homeowners need when filing their federal returns.

You may have eligible deductions if you recently purchased a home. Check with your tax professional to determine what you can use as a qualified deduction.

The capital gains tax exclusion may allow you to exclude up to $250,000 of the gain on the sale of your home or up to $500,000 if filing a joint return and you meet the homeownership test. You can find out more information about the sale of your home on the IRS website.

It is always wise to consult with a tax professional to determine if you have taken advantage of all the tax deductions you are eligible to receive. This is because tax laws change frequently.

There are many considerations to buying a home. Having an experienced agent guide you through the home buying process is your first step to becoming an educated Pittsburgh home buyer. This previous blog post helps you learn more about buying a home.

As a full-time Realtor® for over 19 years in the local Pittsburgh market, I have the experience you need. Contact me by phone at 412-848-3907 or email at to schedule a free consultation to discuss your real estate needs.