Are First-time Homebuyers Snubbing ‘Starter Homes’ in Favor of Forever Homes?
As young adults, my husband and I bought our first home in the late 1980s in a suburb of Los Angeles. It was 800 square feet, located in a working class neighborhood that was a commutable distance from our jobs.
However, it proved to be a good investment. Years later, when we moved to San Diego we found we could afford to buy a larger home. As our family grew, we’ve moved twice more to larger homes to accommodate a family of six.
That Was Then
That concept of a starter home is “quickly becoming a real estate relic, like track lighting and brass hardware,” notes a recent article in USA Today.
A starter home might be described as “smaller, it’s cheaper, and in an area that might not be in an area where you eventually want to settle down,” Issi Romem, chief economist for BuildZoom, a real estate construction marketplace, tells USA Today. That pretty much sums up my first house.