starter home


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starter home

A home that is smaller than the typical homes in an area, and thus less expensive and easier for first-time home buyers to acquire.

References in periodicals archive ?
On the sell-side you should do very well, given the huge demand for starter homes in coveted areas.
Its figures showed there were 12% more first-time buyers in the market in the first half of this year than a year earlier, meaning some second steppers might have found it easier to sell their starter home, with more potential buyers in the market.
5 times their earnings stepper homes" has improved in recent years, as the rising value of a starter home has given home owners bigger deposits to use as a springboard for their next property.
Kathy Cummings, homeownership solutions and education executive for Bank of America, said in an interview with Mortgage Banking that a couple of the findings came as a little bit of a surprise--for example, the finding that some first-time buyers were interested in skipping the starter home and willing to wait longer if it meant they could get the home they really wanted for the long term.
An average earner with a 5% deposit looking to buy an average-priced house would be able to afford a starter home in just 45% all council areas in England with a 20% discount, research found.
The Bill also includes a provision for secondary legislation to require a proportion of starter homes on residential developments above a certain size (to be determined).
All in all, it's a great starter home and outstanding value for money.
There are no granite counters -- despite the fact that the house is a modest-priced starter home.
But the pounds 1m starter home could require a first time buyer income of pounds 136,000 - which suggests that many consumers will either never buy a home, or be forced to put off other life goals such as marriage and children to get a foothold on the property ladder.
If the down-payment requirement is suddenly reduced to 5 percent, then all households with savings between S5 and $10 can afford a starter home assuming the price remains fixed at $100.
Flat types range from studios, as the emphasis is on the starter home market, to two-bedroom family units.
Or perhaps a two-bedroom Granada Hills starter home with less than 1,000 square feet?