Home ownership is experiencing a confluence of events that is propelling the real estate market to new heights. The pandemic highlighted the advantages of having property and extra space, which has driven up demand. At the same time, lifetime low mortgage rates have made owning the home of your dreams more affordable. Add to this the general appeal of owning your own home, and you have all the fuel needed for the housing market to take off.
Rural living is in vogue once again. Acceptance of telecommuting and work-from-home has made where you live somewhat independent of where you work. As a result, people are rethinking the metropolitan lifestyle and opting for the safety and savings of small town America.
Huntingdon County real estate continues to be a strong investment. Purchasing a new home makes sound financial sense, considering historically low interest rates and the local market’s already strong value. Local real estate is very affordable compared to the state averages. This is especially true if you are moving from a metropolitan area.
The median value of a home in Huntingdon County costs $44,800 less than that of the whole of Pennsylvania – a 24.8% savings when compared to the state – meaning your mortgage dollars buy significantly more here. Rental costs are lower in the Huntingdon area as well, with a median monthly renter saving $3,552 a year, versus that for the state as a whole. While the affordability of housing options in our area is high, that doesn’t mean that quality is compromised.
The area offers such a wide range of options – from stately historic homes in the heart of downtown to secluded cabins in the mountains, or ranch-style homes in a subdivision. While demand has lowered availability, this is a great place to find a small farmette, a cottage by the river, or a mansion near the lake – you may just need a little more patience than normal.
If you prefer to have something created exactly to your specifications, local firms like Cisney and O’Donnell can design and build your dream home, or add a deck or a pool to your existing home.
Your ideal home is attainable here. The quality and range of housing options in Huntingdon County are perfect for any life stage, budget or taste. To find the next home for you and your family, simply contact one of the Realtors, or contractors, in the business directory on the Chamber’s website HuntingdonChamber.com.