What Makes A Good Starter Home?
Your first home is one of the most exciting property purchases you will ever make. For some homebuyers, realizing the difference between their dream home and the perfect first home for them can be a tough pill to swallow, but having a keen eye for a good starter home will make the difference between purchasing something that is way over your head and finding a home that suits your needs without exceeding your limits.
Unless you are completely prepared to deal with contractors, gut the kitchen, pick out the floors, turn half your wardrobe into “painting clothes” and keep everyone on budget at the same time, a fixer-upper will not make you a good starter home. Most real estate agents will suggest that a starter home be move-in ready to help ease all of the new financial (and emotional) strains new owners face.
Perks should be kept to a minimum. As fun as it sounds to have a pool in the backyard there are monthly costs that come along with them. Not only will a backyard pool raise your monthly electricity costs, you will also be spending money on regulating the water, maintenance that the pump needs throughout the year, and you will be investing time into keeping it clean of debris.
A good starter home is one that fits your needs but doesn’t exceed them. For instance, a newly married couple who hopes to someday have 5+ children wouldn’t necessarily need their starter home to meet the same needs that they will have in 5-10 years.
Remember that your starter home may not necessarily be your dream home, but it will be a great start to your life as a homeowner. From there you always have the opportunity to grow.