Starter Home Pros and Cons<\/p>\n\n\n\n
Buying a starter home is one way you can be a homeowner. A starter home is a property you plan on selling at some point in the future when you\u2019re ready to upgrade. Here are factors to consider with a starter home. <\/p>\n\n\n\n
Affordable<\/p>\n\n\n\n
Housing prices continue to rise, with the median U.S. home price at $375,000, according to the U.S. Department of Housing and Urban Development<\/a>. Starter homes are usually lower than the national average.<\/p>\n\n\n\n Less Upkeep<\/p>\n\n\n\n Your starter home may also not require as much upkeep, especially if you plan to move within five years. A smaller home also costs less for repairs and other maintenance items.<\/p>\n\n\n\n Potential for Producing Income<\/p>\n\n\n\n Starter homes can also be used as rentals when you decide to move. Consider keeping a starter home and renting it out<\/a> to get a second income.<\/p>\n\n\n\n Smaller Space<\/p>\n\n\n\n The cost savings may also come with a smaller living space. In most states, home sizes are getting bigger<\/a>, so a starter home may feel cramped.<\/p>\n\n\n\n More Outdated<\/p>\n\n\n\n Starter homes are usually older and less modern. If you purchase a cheaper starter home, you may have outdated appliances<\/a> and older decor that hasn\u2019t been updated.<\/p>\n\n\n\n Neighborhood Issues<\/p>\n\n\n\n The first home you buy may also not be in the best neighborhood. If your home is in a bad neighborhood<\/a>, there could be more property crime and safety issues.<\/p>\n\n\n\n Forever Home Pros and Cons<\/p>\n\n\n\n First-time buyers<\/a> also can decide to immediately buy their forever home. This approach also has some financial and lifestyle pros and cons.<\/p>\n\n\n\n Setting up Roots<\/p>\n\n\n\n The biggest pro to moving right into your forever home is to set up your roots. This can help you avoid moving again and keep you in a great neighborhood.<\/p>\n\n\n\n Potential to Grow Your Family<\/p>\n\n\n\n Buying your forever home as your first property also gives you the flexibility to start growing your family whenever you want. Couples that plan to have children can have enough space and bedrooms to expand.<\/p>\n\n\n\n Able To Invest in Unique Decor<\/p>\n\n\n\n Another pro is that you can buy big-ticket items, heirloom furniture pieces, and unique decor without having to worry about moving them later. You can also add a pool, hot tub, fence, garden, and custom landscaping<\/a>.<\/p>\n\n\n\n More Expensive<\/p>\n\n\n\n The top con of buying your forever home first is the cost. A larger home may give you some sticker shock. There is also the higher cost of utilities and property taxes<\/a> to consider.<\/p>\n\n\n\n Lots of Upkeep<\/p>\n\n\n\n Finally, you also may need to invest more time and money into maintaining your forever home. Maintenance and repairs may be pricier than a typical starter home and may require some sweat equity.<\/p>\n\n\n\n Investing in a starter home or purchasing your dream forever home is a big step in life. Whichever path you choose, you can be a homeowner and start living your dream. Have the Russell Shaw Group on your side. Reach out today<\/a>.<\/p>\n\n\n\n <\/p>\n\n\n\n\n\n![\"\"](\"https:\/\/nohasslelistingblog.com\/wp-content\/uploads\/2022\/05\/image.png\")
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