Buying a home is exciting. Most people have visualized their dream home—large,
inviting kitchen; multiple bedrooms for family and guests; perhaps a backyard
with built-in BBQ, pool, and fireplace. Yet this dream is often out of reach
financially for first-time homebuyers. These buyers are ready to find a starter
home and perhaps are wondering if saving for a forever home makes more
Before making this decision, it’s important to consult with a professional financial
advisor about your unique situation; more often than not, getting a starter home
makes the most sense.
Things to Look For in a Starter Home vs. a Forever Home
What's the difference anyway?
As we already mentioned, a starter home probably won’t have all the features
you dream about, so it’s important to understand the difference between “want”
features and “need” features. For instance, the number of bedrooms might be
more critical than the huge, eat-in kitchen. Finding a home near a park for the
kids might take precedence over the expansive view of the water.
Focus on affordability and find a home that suits not only your immediate needs
but offers the ability to grow in equity. Your starter home should be viewed as a
financial tool to build wealth and position you to move up to your forever home.
Building wealth through homeownership is a great way to ensure you’ll be able to
buy that dream home when you’re ready
*Rexanne Collins is your BEST source for Oxford MS real estate or for real estate in the surrounding communities and towns. Looking for homes for sale in the Oxford, Bruce, or Calhoun City area? Professional REALTOR Rexanne Collins is your local real estate expert. Whether you are looking to buy or sell, Rexanne is the REALTOR for you. Go ahead and ask her why!