If you’re looking for a starter home, you probably know some of your criteria already. A starter home is a more affordable and practical stepping stone to eventually owning a larger and more expensive forever home. Even with this concept in mind, it’s hard to know what to look for. Here we’ll go over the biggest things to keep in mind when searching for the perfect starter home.
Finding a starter home in a dream home neighborhood is an excellent way to experience all an area offers. For this reason, it’s recommended that you look for a starter home in or nearby where you eventually intend to live long term. You’ll be able to judge and access local amenities and businesses, school districts, transportation and overall feel of the location while paying less. If you want to live near family, friends or your job you can experience those benefits before finding your forever home.
This also means that if you change your mind about where you want to live, you’re also in a much more flexible position to move elsewhere. A starter home is already intended as a short-term living situation, so you will be more mentally and fiscally prepared to try somewhere new.
Even though you’re not likely to stay in a starter home for a long time, it’s important to find one where the local housing market is healthy. Consider a property in an area where home values and sale prices have either remained steady for years or have been gradually increasing. Be wary of neighborhoods that have dropped in price—while you may score an excellent deal on a home and mortgage, lower property values mean you may not recoup the cost when you eventually sell the home.
If you’re uncertain about market trends in your desired area, consult a real estate professional for guidance. They’ll be able to point you toward a smart move so that you find the best property for your needs.
Some people equate the idea of a starter home with a fixer-upper. While fixer-uppers can be extremely affordable, they are often far more work (and expense) than new homeowners are prepared for. If your goal is to live in a starter home while saving money for a different home in the future, the last thing you want to do is spend thousands of dollars on repairs and improvements. This will delay your longer-term goals and probably add unnecessary stress to your living situation.
To avoid this, weigh your options when considering a property with existing issues. Some are easy and inexpensive fixes that can equal a great deal, while others might leave you in the red. Steer clear of major problems like a failing roof, foundation issues or extensive mold or pest problems. These problems are not only expensive to fix but require immediate attention—there’s no putting them off for later.
Starter homes can be incredibly beneficial for many first-time homebuyers. However, avoiding some common pitfalls will ensure that you find the right starter home to help you accomplish your future goals without sacrificing your short-term quality of life.
“I sell your home like it's mine”
A licensed real estate salesperson since 2016, Rob is affiliated with the Briarcliff Manor office of Corcoran Legends Realty. He serves buyers, sellers, renters, in Westchester, Rockland, and Putnam counties. Rob, a native of New York and Westchester County for most of his life, brings an extensive local knowledge of both residential and commercial properties to the table. His experience includes a wide range of property types – single-family, multi-family, condos and mixed use. “Hard to sell” properties is where Rob really excels. “There’s no problem that cannot be solved.”
Rob is certified for many different disciplines in real estate. Cartus Relocation Network Agent, AARP Agent, National Tenants Network (NTN) Agent, Green certified and Pricing Strategies Master. In addition, Rob has completed the Leader’s Edge Advanced training to better serve his clients. Rob has been both associate of the month and top closed dollar agent.
When you work with Rob, you get the feeling you’re his only client. Numbers don’t count, you do. Clients always come first. Each transaction is handled as if it were his own home. Rob strives to make the process as seamless as possible and takes care of all the details, no matter how small. His clients rave about his above-and-beyond service and prompt informative communication. Rob is easy going, friendly, and patient. However he can be a determined and aggressive negotiator when the need arises.
When not out actively working on behalf of his clients, Rob spends time with his wife and two teenage daughters. A devoted supporter of community he sits on several local boards and volunteers for numerous locale nonprofit organizations. He enjoys cycling, hiking, kayaking and winter skiing.
“May your price be right, and your sale be swift!”