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 ?
1m new properties and starter homes form an important part of our ambition to go further, as we set out in our housing White Paper.
The housing market is extremely competitive, especially for first-time buyers who are looking to purchase a starter home," says Svenja Gudell, the chief economist for Zillow, which tracks housing markets across the U.
We expect to be able to deliver terraced three-bedroom starter homes for $270,000, and less than that for one and two bedroom units.
Peers also backed an amendment allowing councils to choose how many starter homes are built in their area in a bid to make sure affordable housing for those on low incomes remains a priority.
A STARTER home scheme has been branded a "mirage" after research found houses will still be too expensive for most of the buyers it is aimed at.
3billion announced in the Spending Review has been allocated for 30,000 starter homes on brownfield sites.
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).
Under the Starter Homes scheme, properties must be offered for sale to first-time buyers under 40 years of age only.
HM Treasury on Thursday reported that villages and towns in rural communities in England will be allowed to build starter homes for local residents as part of plans set out by the Chancellor of the Exchequer George Osborne and environment secretary Elizabeth Truss, in the first Rural Productivity Plan.
Andrew Turner, a partner at property surveyors and estate agents Morris, Marshall and Poole, said demand for starter homes through to executive properties had rocketed in Llanidloes and nearby towns.
THE average age for firsttime buyers trading up to their second property has risen to 40, because so many are "trapped" in starter homes they bought before prices crashed in 2007.
developmentfile DEVELOPMENT: Centurion Fields LOCATION: Ingleby Barwick DEVELOPER: Dunelm Homes HOUSE TYPES: Three and four-bedroom properties PRICES: From pounds 139,995 NORTH-EAST homebuilder Dunelm Homes has created a blend of large, family friendly properties and starter homes at its Centurion Fields development in Ingleby Barwick.