starter home

(redirected from starter homes)
Also found in: Dictionary.

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 ?
Councils across England will share 8 million as a wave of successful bids paves the way for the first Starter Homes.
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).
Once the land is ready for building, it will be sold on to developers as part of the Government's programme to build 200,000 new starter homes in England by 2020.
Colin Willetts, Dunelm Homes sales director, said: "Centurion Fields is a development which grows with the family, offering smaller starter homes up to aspirational detached family homes in an attractive location.
Elaine Demyen, a sales agent with Burgdorff Realtors in Westfield, NJ, said a slump is gripping trade-up homes in the Garden State because of the trouble buyers for starter homes are having obtaining mortgages.
Critics claimed they will distort the housing market, lead to a fall in the number of starter homes put up for sale and make it harder for people to get on to the property ladder.
Consider the case where starter homes cost $100 and the down-payment requirement is 10 percent.
The predicted high cost of starter homes could require policyholders to take out a loan seven times the size of their salary, the lender warned.
And, it's a nice, clean transaction--they don't have to renovate and there are a lot of great starter homes for young people who make a lot of money but don't have a lot of assets.
A FORMER milk depot next to a conservation area looks set to be transformed into starter homes.
With Deputy Prime Minister John Prescott outlining plans to create tens of thousands of cheap new starter homes, their prospects could improve still further.
In addition, this change would undermine Governor Granholm's Cool Cities Initiative, by making new starter homes less available to people in their 20s and 30s -- the specific segment of the population we are trying to retain in Michigan.