Starter Home: What Is It And How Can You Afford One?


Nothing provides someone with more thrill than making their first home purchase. Buying a home is often viewed as a sign that someone has entered adulthood and is ready to begin their financial future.

Someone’s first home is often referred to as a starter home – also known as an entry-level home. There is no question that this starter home is often viewed differently than buying a “forever home.”

What Is a Starter Home?


– It is the first home that someone buys and lives in. Starter homes are meant to be purchased by first-time homebuyers.

– Some homes are built as starter homes, but even that is somewhat variable, as one person’s starter home is someone else’s forever home. – A family buying a starter home usually sells the house and moves to a bigger one later.

Challenges of Buying a Starter Home


– The immediate aftermath of remote work caused a massive spike in home prices, making homes much more expensive almost everywhere in the country. It made it harder for people interested in buying starter homes to save for a down payment and pay closing costs.

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