Starter Homes

So I’ll be the first to admit, most of the listings I share are Pinterest-worthy dream homes...why? Simply because I love some good home inspo and they’re fun to look at!

However, then it comes to real estate as an investment, and especially first-time homebuyers, I am a HUGE fan of starter homes! Check out why below ⇩

YOU’LL GET A BETTER DEAL • Homes that need a little bit of work or cosmetic updates are going to be priced much more affordably than something super updated

LESS COMPETITION • If a house has a gorgeous updated kitchen or some trendy finishes, it’s going to get a ton of interest. Lots of interest means it’s likely to get multiple offers and have several buyers competing to get it...which in turn drives the price up

YOU CAN MAKE IT YOUR OWN • Cosmetic updates are inexpensive + often easy to DIY. Painting walls or cabinets, updating fans + light fixtures, getting new hardware or doorknobs, or replacing old trim is SO easy...and you can choose everything to fit your own style. If you need to bring in a professional to add some trendy subway tile, or another more skilled project, you can still do that on a budget

YOU’LL GET MORE RETURN ON YOUR INVESTMENT • If you do a little work on your own you’ll build some “sweat equity,” and any updating you do in general will add value to your home. At the same time, you’ll be paying down your mortgage principal and your home will likely be appreciating in value. All of this builds wealth, and when it comes time to sell, you’ll see bigger proceeds

IT’S NOT FOREVER AND IT DOESN’T HAVE TO BE PERFECT • Most people live in their first home for 3-7 years...then they capitalize on their investment by selling and “moving up” into a bigger home or their forever home. Even if you start in a condo or townhome, you will be investing in yourself and building equity. When it comes time to sell, many people then have tens (or hundreds) of thousands of dollars to use towards a new down payment and can easier afford that “dream home!”

Thoughts or questions? Share in comments!