Are you getting ready to shop for your very first home? If so, you should realize that the home you buy is your starter home. In other words, it is not a place where you will have to live forever. Instead, it will be a stepping stone for you, in terms of places you own and live, and this is something that is very important to keep in mind. As you view homes for sale, look for a starter home that has these features.
The most important feature of a starter home is affordability. Going from renting, or living with someone, to owning a house is often a big adjustment. You will now be required to maintain the house and take care of problems, and the expenses you will have will be a lot more than when you rented a house. Choosing a house that falls easily into your budget amount will be more helpful than you think, and that is why factoring in affordability is absolutely vital when buying a starter home.
A second feature you should aim to find in a starter home is the home's resale value, and you should make sure that you can plan on staying in the home for at least five years. Living there for five years will make it worthwhile for profitability, and resale value will ensure that you can sell the house for a profit when you are ready to. A house's resale value tells you how easy it will be to sell the house when you want to move, and this value is highly based on the layout of the house, its condition, its location, and the features the house has to offer.
Has needs and not necessarily wants
The other thing to look for is a house that fills the top needs you have at this time, and for the next five years. While it is not bad to find a house that has things in it that you want, finding one that has the features you need is much more important.
These are the main three things you should consider as you search for a starter home to buy. If you are preapproved for a loan and ready to make a purchase, meet with a real estate agent to learn more about the process and to find out what homes you might be interested in seeing. Learn more about residential real estate by visiting with your realtor.Share