Pennsylvania is a fantastic place to live. The Keystone State is home to several lively cities, smaller towns, and stunning rural areas. There’s truly something for everyone here—but does that mean you should buy a home in 2024?

Why purchase a home in Pennsylvania?

Here are some reasons to buy a home as an investment in Pennsylvania.

Build equity Equity is the amount of your home that you actually own. It increases over time as your property value increases—or as you pay down your mortgage. For instance, if you owe $250,000 on your mortgage loan and your home is worth $300,000, you have $50,000 of home equity. Equity is a significant asset for homeowners (and an essential part of their net worth).

Experience affordability According to CNBC, Pennsylvania is the seventh most affordable state in the country. Homeowners’ insurance is particularly low. For instance, the annual premium for a median-priced home is only $807—or half of what it would be in Nebraska. Families can use these savings to make home improvements, travel, or invest in meaningful experiences.

Enjoy the amenities

Pennsylvania has remarkable appeal: excellent school systems, top-ranking healthcare facilities, and many parks and historical sites. Attractions like Hershey’s Chocolate World and outdoor wonders like the Poconos are an added bonus. Let’s not forget our state’s excellent universities and enticing sports teams.

What is the Pennsylvania real estate market like? 

According to the Pennsylvania Association of Realtors, our state is performing better than the rest of the country. We offer comparative affordability and a high quality of life—factors that matter in today’s market.

And with homes in our state selling for a median price of $311,300 in August 2024 (17% lower than the national median), there’s plenty of opportunity. Buyers in our state get more value for their money and have the ability to buy a larger home.

Just know that property tax rates and other market details may vary depending on where you choose to live. In Cumberland County, for example, the median home listing price is currently $375,000. That figure is much lower in Dauphin County, where the median listing price is just $278,300.

Real estate options abound here in our state. Buyers can choose from downtown lofts, historic farmhouses, and brand-new single-family builds. We’re confident you’ll find something you like: Lakefront or wooded, urban or suburban.

Is buying a home a good idea in 2024?

We can think of many reasons to buy a house as an investment in 2024. Consider making an offer now to beat the rush of spring and summer—and enjoy less competition before interest rates drop.

Just remember to shop around before you commit to a mortgage lender. According to the Consumer Financial Protection Bureau, this will help you save $100 or more each month. (Be sure to look at the annual percentage rate (APR) to understand the total cost of the loan—including fees and other expenses.)

You’ll be ready to make the most of your new investment from there. It would be an honor to partner with you along the way.

Find your Pennsylvania home today

Real estate investments in Pennsylvania can offer long-term value this year. With mortgage rates projected to stabilize and home prices still within reach, 2024 is an appealing time to buy.

This is where we come in. Since 1973, Berks Homes has built thousands of homes in Southeast, South Central, and Central Pennsylvania. We view our track record as a testament to the relationships we’ve built with buyers like you. And truly, we’d love to help you find your new home in 2024.

Simply contact our Online Sales Consultants, Kelly and Megan, with questions or for more information. Let’s make 2024 the year you find your dream home in Pennsylvania! https://www.berkshomes.com/