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Starter Home Vs. Forever Home

By
Real Estate Broker/Owner with Clark Properties 603683

Your Starter Home vs. Your Forever Home

 

Buying a home is exciting. Most people have visualized their dream home—large, inviting kitchen; multiple bedrooms for family and guests; perhaps a backyard with built-in BBQ, pool, and fireplace. Yet this dream is often out of reach financially for first-time homebuyers. These buyers are ready to find a starter home and perhaps are wondering if saving for a forever home makes more financial sense.

 

Before making this decision, it’s important to consult with a professional financial advisor about your unique situation; more often than not, getting a starter home makes the most sense.

 

Things to Look For in a Starter Home vs. a Forever Home

As we already mentioned, a starter home probably won’t have all the features you dream about, so it’s important to understand the difference between “want” features and “need” features. For instance, the number of bedrooms might be more critical than the huge, eat-in kitchen. Finding a home near a park for the kids might take precedence over the expansive view of the water.

 

Focus on affordability and find a home that suits not only your immediate needs but offers the ability to grow in equity. Your starter home should be viewed as a financial tool to build wealth and position you to move up to your forever home. Building wealth through homeownership is a great way to ensure you’ll be able to buy that dream home when you’re ready.

 

http://www.clarkpropertiestx.com

Comments (2)

Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Hello Laura,  Very good blog to share with us here in the rain.  You should blog more here.

 

Aug 03, 2020 08:21 AM
Roy Kelley
Retired - Gaithersburg, MD

This is very good information to share with prospective home buyers.

Jun 01, 2022 05:18 AM