Homes are larger — and more expensive — now . What does that mean for the starter home ?
Does location still matter most ? Should you remodel your base to suit your tastes , or for resale time value ? Are starter homes still a affair ? We all have heap of question about the ever - switch world of real the three estates . In ourAsk an Agentseries , we ’re partner with expert atBetter Homes & Gardens Real Estateto answer your biggest doubtfulness about finding , buying , and sell a home .
First - time home buyers have long set their sights on what ’s known as astarter home : A small - ish , moderately affordable sign of the zodiac that buyers could give in their twenties or thirties . While the exact definition of what qualifies as a starter home varies , for many , a starter home was modest and , importantly , low-priced . It was also often a temporary spotlight , a room to get into the market at a low level — just a hold back pointedness on the elbow room to amove - up homeor forever and a day home . Many families only planned to abide in their starter home for a few years , until they were more established and able to yield something larger that could oblige a growing house .
Credit:Jessica Poulos
Today , the construct of the starter dwelling is a niggling less sure . With a challenging housing market , spiking prices , and other cistron do it hard and punishing for the average vendee to find a menage , many people are wait longer to purchase a home , choosing to rend until they ’re able to yield a prominent first home . Others who ca n’t line up move - up or forever homes that meet their needs are snapping up starter home and recreate or demolishing them to build plate that better befit them . Still more already have a starter home , but they ’re unable to find ( or afford ) a larger move - up home base , so they ’re stay in their homes longer , reducing the number of starter homes for sale and available to first - fourth dimension buyers .
With all these ingredient reducing the number of people purchasing what was once thought of as a starter nursing home , it ’s act inquire : Are starter homes still approachable ? Or with increasing variance in people ’s path to homeownership and how they move through the market , is it an out-of-date concept ?
Jessica Poulos
To get a sense of where we stand on the topic of starter homes , we turn to Jessica Poulos of theBetter Homes & Gardens Real Estate Northwest Home Teamfor this month ’s require an Agent .
Jessica Poulosis the Designated Broker and co - owner ofBetter Homes & Gardens Real Estate Northwest Home Team , with three offices in northwestern Washington . She has more than 20 years of experience work in real the three estates in the sphere , assist clients find their dreaming menage .
Ask an Agent: Is the Concept of the Starter Home Still Relevant?
My first home with my parent was three bedrooms and one bath . Just tiny , right ? But I think in today ’s marketplace — and mayhap it ’s just how we ’ve evolved — but you would have such a toilsome time selling a rest home with three bedrooms and only one bath . We ’ve gotten accustomed to , ‘ No , we want a lord tub ’ or ‘ we want a bathroom for the shaver ’ or , you eff , ‘ we want freestanding life infinite . ’
So yes , I think these starter homes are courteous and a peck more elaborate than they used to be . perhaps it ’s just our standards have exchange , with all these shows and everything else , but yes , there is a miss middle where we just do n’t have affordable housing for your everyday purchaser , everyday family .
This consultation has been edited for length and clarity .
