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.

The Complete Real Estate Encyclopedia by Denise L. Evans, JD & O. William Evans, JD. Copyright © 2007 by The McGraw-Hill Companies, Inc.
References in periodicals archive ?
Apart from the starter homes, the beneficiaries will receive food supplies and assistance through livelihood programs.
Jones Homes will create three starter homes specifically for firsttime buyers at the development off Swallow Lane.
Starter Homes has identified the gap and the need for one brand which customers can trust to provide the same standard of quality and design and style of apartments and apartment buildings throughout the world.
Nationwide, starter home buyers should expect to pay 25.6 percent of their income toward a mortgage (up 3.3 percentage points from 22.3 percent a year ago), compared to 24.4 percent for trade-up buyers (up 2.3 percentage points) and just 21 percent for premium buyers (up 1.3 percentage points).
According to Lorentz, meeting the demand for starter homes is essential to attracting a younger age cohort, providing employers with an adequate workforce and mitigating the impact of an aging population.
Bandar Setia Alam Sdn Bhd general manager Tan Siow Chung said the objective of the Starter Homes series is to give both first-time buyers and those looking to upgrade a chance to own a freehold residence in a thriving community, usually found only in new developments located far from the heart of Kuala Lumpur or Petaling Jaya.
"Since 2010, we've delivered over 1.1m 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.S.
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.
Five sites have been earmarked for work and 40% of the properties will be affordable starter homes.
Almost certainly an even greater resistance to urban sprawl, and perversely even greater pressure on - and opportunity to exploit - those five-year delivery numbers Starter homes Richard Brown: The Housing and Planning Bill has introduced a duty to supply starter homes through the planning process.
Mr Cameron talks passionately about building starter homes to enable people to get on the first rung of the housing ladder.