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Buying a starter home



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Maryann




 
 
    
 

Post Sat, Mar 25 2017, 6:47 pm
Do people that buy a "starter home" /first home, do you end up selling later on and buying a bigger house?
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Batyah85




 
 
    
 

Post Sat, Mar 25 2017, 7:10 pm
We are in the process of making an addition on our starter house Smile.
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Maryann




 
 
    
 

Post Sat, Mar 25 2017, 7:14 pm
Very nice! Good luck!
Why are you renovating? Bc u have more money? Or house got too small?
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Tzutzie




 
 
    
 

Post Sat, Mar 25 2017, 10:00 pm
Maryann, what do you call a starter home?
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Maryann




 
 
    
 

Post Sat, Mar 25 2017, 10:05 pm
I'm hearing a lot of people use this expression! They are referring to a 3 Bedroom home with basement /guest room
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Tzutzie




 
 
    
 

Post Sat, Mar 25 2017, 10:19 pm
I know. But to everyone it means something else.
A coupke without any children might call their 2 bedroom 1200 sq ft home a starter home.
Or for example me, a wife ama mourner of two children, will call a 3 bedroom house a starter home. Smile

We are looking to buy a "starter home" now.

One of our three biggies is the option of extending later on. That migh be building up or extending out backwards.
And if the house has a small kitchen, kitchen has to have a breakfast nook in the proper layout and large enough to eventually extend (once the family gets bigger) and still be able to do a small dinette area. (Other than the formal dining room)
Oftentimes it is cheaper to extend your current home than move to a bigger one.

Also, you already know your neighbors and chances are your children have their friends already.
You have built memories in that house and it's already decorated to your taste. You're comfortable and lazy to start in a new place.

I don't want to be house hunting again anytime soon. It's exhausting and we're not done yet....
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Maryann




 
 
    
 

Post Sat, Mar 25 2017, 10:24 pm
Ok Thx to tzuzie basically its not clear cut at all, we want to buy a tiny attached townhouse now
But I am so scared we will never sell and buy a normal house, it just feels scary to me I don't know why

It's good for us now (3kids) and it makes sense for us now..
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pause




 
 
    
 

Post Sat, Mar 25 2017, 10:34 pm
Maryann wrote:
Ok Thx to tzuzie basically its not clear cut at all, we want to buy a tiny attached townhouse now
But I am so scared we will never sell and buy a normal house, it just feels scary to me I don't know why

It's good for us now (3kids) and it makes sense for us now..

I don't know where you live, but in some places, buying a house now is basically a good investment. If you need a new place to live anyway, it definitely makes sense. Prices and mortgage rates are on the rise.
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Tzutzie




 
 
    
 

Post Sat, Mar 25 2017, 10:59 pm
pause wrote:
I don't know where you live, but in some places, buying a house now is basically a good investment. If you need a new place to live anyway, it definitely makes sense. Prices and mortgage rates are on the rise.


Yups. That's why we really want to find one soon.

We need to send down an inspector cuz it looks like there is an issue w the flooring in one side of the house.
The roof and the siding and the boiler have all been replaced in the last two years.

We are so itching to get it over with. Either a go ahead, or to move onto something else. The prices are constantly rising. And the mortgage rates are gonna go up up up....
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shabbatiscoming




 
 
    
 

Post Sat, Mar 25 2017, 11:15 pm
Maryann wrote:
I'm hearing a lot of people use this expression! They are referring to a 3 Bedroom home with basement /guest room
How or why would this be a starter house as opposed to a house that a family could grow into? I know plenty of people who bought such homes and are living in them as their forever homes.
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Maryann




 
 
    
 

Post Sun, Mar 26 2017, 12:07 am
The house I'm looking into has 3 bedrooms and one bathroom, no guest room,
I really hope one day I buy a bigger house, have my own bathroom ect
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sister1




 
 
    
 

Post Thu, Mar 30 2017, 7:22 am
It makes the most sense, based on experience to buy a home that fits you now, and for the next couple of years. It's more likely to be something you can afford comfortably. A little later down the line, you can probably choose to sell, and use that money towards a bigger home, or if you can't afford to add on, you can probably take out a loan against your home to expand. Affordability and potential are the two main things that I found made sense to focus on. And if it's not so big, but an airy layout it makes a huge difference! Buying a home is huge-you should definitely be excited about your house!
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