Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
I would describe a starter home as a house or townhouse that has only two bedrooms and is on the small side. It is in the lower price ranges for whatever area you live in. the starter part would be that you would not really be able to live there forever if you are planning for a family etc. you would be thinking that you might stay 2 to 4 years, then move up to a larger home.
To me a starter home would be a smaller home. Two bedrooms or less and it has to be in a lower price range. It's kind of ironnc because "todays" starter homes were yesterdays family homes.
We are building a small 2/1 bath home now and though some might consider it a starter home I think it is perfect.
It's kind of ironnc because "todays" starter homes were yesterdays family homes.
This is so true, LOL! It seems like now days people act as if anything under 3000 sq. ft. that isn't a custom build with granite and stainless is a "starter home", LOL!
But I agree, a small, maybe 2 bedroom condo, townhome, or very small single family home is my definition of a starter home.
A starter home should be whatever you can comfortably afford, including property taxes and maintenance costs. In my opinion, no one should touch a variable interest rate.
It should be in an area which will appreciate so when you sell you will make a profit and you can move up to a property which may more fully meet your needs.
In my opinion, a freestanding house is preferable to a condo, but this depends on where you live.
Location: Visitation between Wal-Mart & Home Depot
8,309 posts, read 38,782,175 times
Reputation: 7185
Quote:
Originally Posted by ogplife
What do you consider to be a starter home? Give me an idea of the traits that you relate to a starter home. Thanks to anyone that responds.
A starter home = a home you can afford when you are starting your family.
I think this may be a fixer-upper or it may be remodeled. It could be suburban new construction, its really just something that you don't necessarily expect to be in forever and it fits your budget.
A starter home = a home you buy when you are just "starting" out. That might mean that you're 45 and never had a house before (always rented) - and for whatever reason have no savings.
It might be the first home you buy when you are 21 and decide that you'd rather buy a house to live in during graduate school rather than rent?
Or it could be the first house you and your new spouse buy after deciding that you don't want to keep either person's apartment...
Usually on the lower end of price range (for my area I'd say $120 or below) - because of that generally smaller (2 bds, or 3bds, 1 bath) .. but could be larger and a fixer up, or in a dicier side of town.
One person's starter home could very easily be someone else's long term dream-family home. (i.e. a person with long term high earning potential buys a lower priced house as a starter home, but eventually will wind up in posh top-floor condo with city views - but that lower priced home gets sold to a family of lower median income who are thrilled to have a safe place to raise their kids)..
Thanks to all that responded. To anyone who responds in the future. can you also give your approximate square footage in conjunction with the layout (ex. 2 bed, 1 bath, 1000 square feet).
This really depends upon where you live. I watch those HGTV shows where a young couple in CA is buying an ugly little shack that is smaller than my garage for $595,000. and I just can't believe my eyes.
Here in NE Ohio, you can get a 1800 sq ft house with 3 br/2ba for under $125,000.
My son and his wife are in their early twenties in Savannah and are building their starter house- a new 1600 sq ft., 3br/2ba house for about $160,000.
Our "starter home" (first home) was in Newtown PA and it was a 1000sqft condo-2 beds, 1bath with vinyl flooring and builder grade vanity, small kitchen with builder grade cabinets (30") and vinyl floor, and a family room/dining room condo. We paid $117K at the time (which I thought was NUTS, but that was the market then) and we sold it two years later for $180K.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
