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Starter Homes | The McLeod Group Network - KW Capital City Blog

Monday, October 15, 2018   /   by Amy McLeod

We're Stuck in Our Starter Home—Will It Be Our Forever Home, Too?

Right after we got married, my husband and I bought a starter house. At the time, we didn’t have much in savings (or in income), so it wasn’t our dream house. But it was our house, and that was enough. Coming from the tiny apartment where we started out, this three-bedroom, one-bath Cape Cod on a quiet street seemed like a dream. Our plan was to stay five years, tops, then sell it and move on to something bigger and better.
That was 12 years ago … and we’re still here.
At first, our long stay in our starter home happened purely by accident. We had two kids in quick succession, and I'd made a career move into an unsteady field. We were just too busy (and to be honest, too scared) to make the leap.
A few years ago, however, we decided we were ready to enter the real estate market once again. Financially, we were comfortable, and we were rapidly outgrowing the house that had once fit us perfectly. Time to move on!
But that's when it ...

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  amy mcleod, mcleod group network, homebuyers, homeowners, buying a house, selling a house, move up buyers, starter homes, buying your dream home

Wednesday, May 30, 2018   /   by Amy McLeod

Millennials Are Skipping Starter Homes for Their Dream Homes

A new trend has begun to emerge. With home prices skyrocketing in the starter home category, many first-time homebuyers are skipping the traditional starter homes and moving right into their dream homes.
What’s a Starter Home?
According to the National Association of Realtors (NAR), simply put, a starter home is a one or two-bedroom home (sometimes even a small, three bedroom). “Prices vary widely by market but starters on average cost $150,000 to $250,000 while trade-up and premium homes cost upwards of $300,000.”
Finding Their Forever Homes Now
A recent CNBC article revealed that there are many factors that delayed older millennials (ages 25-35) from buying a home earlier in their lives. The aftereffects of the Great Recession teaming up with larger education costs forced many to either remain living in their parent’s homes or to rent.
With the economy continuing to improve, many millennials have been able to break into bet ...

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  amy mcleod, mcleod group network, homebuyers, first time home buyers, millennial homebuyers, millennials, starter homes

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