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What is Considered a ‘Starter Home’?

Ready to buy a home, but not sure if this is really the home of your dreams? That’s okay! Until just a few years ago, purchasing a small home that you intend to leave in a few years was a standard part of adulthood in most of the United States. Today, the market and the situation is different than it was toward the middle of the 20th century. Choosing a home, whether it’s your starter home, or a home in which you’ll retire, can take some time, but choosing a home that fits your needs is always the most important priority while you’re shopping around for a place to start your next chapter. 

By definition, a starter home is simply the first home that you’re able to comfortably purchase with all of your combined financial resources. While some people prefer to pay cash, cutting closing time, most people will take out a mortgage to cover the cost of their new starter home. Starter homes, sometimes called, ‘entry homes,’ or ‘entry-level homes,’ are usually the cheapest home you’ll buy in your life. The idea behind starter homes is that you’ll take the time to enjoy your home, learning to care for and be responsible for the home, and building equity. That way, when you’re ready to sell your starter home to another loving party, you’ll be able to use some of the profit and your savings to buy a new home. 

The First Starter Homes

mini homes

Homeownership used to be an elusive endeavor: only the very rich, or the people who knew how to build, would be able to have a home to call their own. With the end of World War II, though, that changed. As service people returned home, they were eager to settle down and start families. The demand for new homes skyrocketed. Veterans of the war and people who went back to work to produce goods and provide services for the war were among the biggest groups of people seeking to purchase new homes. As the country pulled itself out of the last major economic depression, the residential real estate industry took off, too. Imagine the American Dream of having a nice, one-level home with a little white picket fence. The source of this cultural, bordering on mythological, set up is this time period of rapid economic growth, fueled by the work and spending of those returning home from war overseas. 

The needs of service people were soon met by a variety of local real estate developers that created communities on a grid, including shopping and dining establishments, for this new crop of prospective homeowners. These homes were reasonably-priced, and even a person working on an assembly line could call themselves a homeowner if they utilized their resources properly. At that time, there was a cultural goal and a cultural standard that everyone should aspire to homeownership as a means of building a nest egg for retirement. While this standard of homeownership hasn’t changed, the effectiveness of this cultural push has been weathered by the lack of affordable housing in the very cities in which the best-paying opportunities lie.  In cities like Los Angeles, New York, San Francisco, and Seattle, it is relatively unusual to meet young homebuyers. This, of course, is a long-term consequence of the 2007-2008 Financial Crisis, when foreclosures ran high, and home-buying rates dropped. 

Starter Homes Today

It’s safe to say that your starter home will be the smallest and cheapest home that you will buy. Considering the difficulty of finding affordable housing in larger cities, it’s best to avoid looking to purchase your first home in Los Angeles or New York, unless you’re local, and making an above-average salary. Surrounding areas of major cities used to be solid havens for affordable housing, but after the real estate market recovered within the last decade, affordable housing has become steadily more scarce, even in major metropolitan areas. 

For young people looking to get their financial future rolling, there are more options in smaller cities, but there is a way to make your dream of homeownership come true. The answer could be investing in a foreclosed property. In any city, there are several great deals on foreclosed properties. Some of them may need some love: renovations and plumbing repairs are common services for foreclosed properties, and there are plenty of contractors looking for a great new project. If you’re adventurous, maybe it will be you that makes your new home your own home. Choosing a foreclosed home could mean quite a bit of work on your property, and you’ll want to be sure that the property has been inspected for structural soundness. 

Yet another option that you may have for a cheap home is at an auction. The only downside to buying a home at an auction is that you will have to buy it outright with cash, and you won’t have a chance to view the property before you buy it. You’ll have to take the agency’s word that you are receiving this many beds and baths, and this much space. Even then, if you’ve purchased a cheap home, you’ll have some leftover funds to start on the home improvements that will make you and your loved ones comfortable. 

What’s in a Starter Home? 

What you really want in a starter home depends on your needs, and of course, on your budget. Its unusual for anyone’s first home to have more than two bedrooms, and one to two bathrooms. If you’re living in a larger city, and have a very small home, you might not be able to have a yard, which can be a concern for young parents, or young pet parents. If you can start with a smaller home in a smaller city, you might be able to afford more than you can in a larger city, of course, but if your heart is in one of these larger cities, don’t give up. Whatever you do, make sure that you consider hiring a local, experienced real estate agent. Not only can a local real estate agent help you track down an affordable new home, they can present you with options that you may not have considered. It’s equally important that you spend your own time researching through local listings and driving around your target area. Your new home could be just around the corner. 

Ricki Irwin
Ricki Irwin
00:06 24 May 19
This was so easy Casey was very helpful and kept in contact through the entire process thank you again for everything. Highly recommend this company.
Lela Leedham
Lela Leedham
03:08 22 Feb 19
Great experience working with Casey and Ryan. We would recommend them anytime. They are very knowledgeable and very professional.
Emily Binder
Emily Binder
21:16 18 Feb 19
Jennifer Gibbs
Jennifer Gibbs
19:58 18 Feb 19
A very impressive operation. Very professional and knowledgeable. They follow up when they say they will. Very helpful Team. If you're looking for a fast and fair cash offer on your home, these are the guys to call!
Mario Elizondo
Mario Elizondo
19:58 18 Feb 19
Very professional and a pleasure to work with.
Danny O'Bannon
Danny O'Bannon
19:53 18 Feb 19
I called 5 different companies from google trying to find a company that would pay the most for my rental and their offer was higher than the others. Extremely streamlined process. Easiest transaction I’ve done
Ross Greene
Ross Greene
18:04 17 Feb 19
Ryan & Casey were great to work with! Absolute pro's in the business. I would definitely recommend them. If only I could give them more than 5 stars. Hope to work with them again soon! Thanks guys!
Pam Dickerson
Pam Dickerson
23:53 15 Feb 19
Excellent customer service! Helped us through the entire process. Highly recommend!
steve Balsacker
steve Balsacker
19:35 14 Feb 19
Me and my wife had gone through a divorce and we wanted a quick way to get rid of our property so we could just move on with our lives, Thankfully Ryan came in and helped us out, I didn't have the time to deal with the headache of people coming in and out as well as all the repairs that were needed. He gave me top dollar for my home and I was out in 7 days!
jason almeida
jason almeida
16:52 14 Feb 19
We have seen their signs around town and thought it was a scam, we decided to give them a call and I couldn't have been happier with our experience. They were professional and knowledgable, they paid for all closing costs and even helped with our family move. Great guys and great company! Thanks again!
Peter Floratos
Peter Floratos
04:51 14 Feb 19
This team handles their business right. They are a pleasure to work with.
Tyler Hubbs
Tyler Hubbs
04:38 14 Feb 19
Ryan and Casey treated me with patience and respect during the whole transaction! Very trustworthy and explained each and every question I had!! I would highly recommend We Buy Any Vegas House!!
Dennis Ripley
Dennis Ripley
03:55 14 Feb 19
Very professional and very knowledgeable from start to finish. They went above and beyond to help me find what I was looking for. I would definitely recommend them.
Avraham Metal
Avraham Metal
01:58 14 Feb 19
As a Real Estate Agent I have sold properties to Casey and his Team. They are men of their word and have never let me down.
Dena Shapiro
Dena Shapiro
01:29 14 Feb 19
What an AWESOME experience!! Casey and Ryan are THE BOMB!! They either answer their phone ALWAYS or respond within minutes. They originally called to see if I wanted to sell but I wasn't interested in selling. However, my neighbor had to sell immediately so I referred them to her, she accepted their offer & they closed escrow within weeks. It would've been A LOT sooner but there were delaying issues on the seller side. Anyways, they got it closed & EVERYONE is happy!! Thank you so much Casey & Ryan :). YOU'RE THE BEST!!!
Ron Lorenzo Woods
Ron Lorenzo Woods
00:51 14 Feb 19
Great team with quick and professional service!
karina giraldo
karina giraldo
00:36 14 Feb 19
Knowledgeable, fair, and professional. I loved working with Casey. I did my research before selecting a company, and I’m so happy I went with them!
Cody Raynoha
Cody Raynoha
00:27 14 Feb 19
Casey runs a great company that's honest, easy to deal with, and is always fair. I'd absolutely work with him again!
Whitney Carter
Whitney Carter
21:42 08 Feb 19
Grateful to have worked with such a great company! Long story, short they really did help me through a tough time. No need to get into details, but this company really knows what they are doing. Thank you for all of your help with my home. Highly HIGHLY recommend!
Alan Giblin
Alan Giblin
23:01 07 Feb 19
I was shocked when I heard that We Buy Any Vegas House could sell my house so fast without any fees or charges at all. Thanks again guys!
Crosbey Proffitt
Crosbey Proffitt
22:48 07 Feb 19
I started off using a realtor thinking that I would be able to sell my home fast, but that wasn’t the case. I ended up reaching out to different companies and I ended up finding We Buy Any Vegas House. They were on it the second I reached out to them and were able to sell my home fast!
Investors
Investors
18:59 07 Feb 19
I have been in Real Estate for many years, it’s so refreshing to meet such professional, kind people to work with. We Buy Any Vegas House has great employees who are responsive and get things done quick. You can tell they have a true passion for what they do. If you are looking to work with a great team and you want to sell your house quick, I highly recommend this group!
Scott Henry
Scott Henry
18:53 07 Feb 19
We Buy Any Vegas House truly is one of the most reliable companies I have worked with. You can really tell that Casey and Ryan really care about what they do and really want to make you feel comfortable in the process. Thank you for all your guys help!
Ashlyn Mazur
Ashlyn Mazur
21:26 02 Nov 18
Most professional real estate company I've ever worked with! Would for sure recommend them!
Ashley Thompson
Ashley Thompson
18:59 02 Nov 18
I called 3 different companies and Casey was the most responsive. His offer was higher than the other ones as well. I really liked that they were a local company and everyone who helped me in the process was great to work with!
Katrine Baker
Katrine Baker
18:39 02 Nov 18
My mom and I had to move out of our house pretty quickly due to her martial differences. They were honest and extremely professional during the process and we are forever grateful to have worked with such a great company! Highly recommend!
Gregory Mitchell
Gregory Mitchell
00:26 01 Nov 18
Unfortunately, I never thought I would see myself having to get rid of my home, especially in a fast time frame. However, life happens, and I needed to sell my home quickly due to a death in the family. I reached out to 4 companies in Las Vegas, and We Buy Any Vegas House not only was the most efficient, but the friendliest, most reasonable, and compassionate. The other 3 companies did not even compare. Casey and Ryan have gone above and beyond to make sure that this worked for me. They truly care about you, which means a lot especially during a tough time. They put in the effort to care about the client first, as well as my family during this tough time. I am so grateful to have found them, and to top it off, they bought my house and put cash in my pocket in 7 days. Would recommend to all! Use this company, you can't go wrong! Thanks to Casey, Ryan and John!
Samantha Bonneville
Samantha Bonneville
00:23 01 Nov 18
We buy any houses is one of the most honest companies I have worked with. They are always upfront with issues of the houses, honest with fees And closings. We have not had a bad experience after 10+ Transactions
Alyssa Trent
Alyssa Trent
23:08 31 Oct 18
I worked with them to help my Mom sell her house and they were so amazing!! They explained to us exactly how everything worked step by step. I called them on a Monday and they got us cash by Thursday. Casey is such a genuine person.
Robert Johnson
Robert Johnson
22:10 31 Oct 18
After a tenant trashed my rental property, I was faced with the decision of remodeling or selling the property in its current state. I called Casey and he walked me through the entire process, start to finish. After factoring in the amount of time and money the remodel would take, it was clear that selling to them was the best decision for me. Within a week of my first contact with Casey and his team, we closed on the property and I had cash in hand. I'll definitely be reaching out to them in the future. THANKS!!!
Corey Trent
Corey Trent
02:33 31 Oct 18
I reached out to Casey and Ryan when I needed to sell my house. They were very professional and helped me through this tough time. They were able to buy my house and close fast. What a great team they are! I would recommend them to anyone. Thanks again!
John Washington
John Washington
02:24 31 Oct 18
As a very skeptical person I always believe that my best interest is not priority when dealing with people that want my business. I cannot name the countless times that I have been burned. After looking to sell my house for a cash offer, I was called by a lot of investors, most of which had very little customer service. Several didn't return call when they said they would and then when they finally called me back, they got anger when I decided not to use their Services. From day one Ryan not only treated me like is #1 customer but also treated my whole family like long time friends. I most also state that his offer wasn't even the highest. I took the lower off with him due to the fact that he help with crucial tax situations that I needed taken care before receiving them money so it wouldn't bit me in the butt later. He answered every call before and after the process was completed. 99% of others wouldn't have even answered a text once they got the money. Could I have made a couple of thousand dollars more with someone else? Sure, but the peace of mind in knowing that it was done the right way by someone who actually was professional and care was more than worth it. Ryan has made a customer and friend for life.
Green Girl
Green Girl
00:00 31 Oct 18
I was in a really tough spot because my Husband was in the Hospital and had passed away. I was completely unready for this and had discovered that there would be considerable expenses!  I had received several letters from companies interested in the property on an "as is" basis.  Most had never got back to me after I called them or were too low of offers.  I put an inquiry in their website and was immediately contacted by the Owner who was able to come the very next day!  The entire process was easy and professional.  Thank you We Buy Any Vegas House!
Mike
Mike
23:37 30 Oct 18
Casey and Ryan were so helpful! I was was a week from being Foreclosed and they were able to get me cash in my account in 5 days! And even let me rent back until I was able to find a new home!
Karl Workman
Karl Workman
21:03 30 Oct 18
This company was not only the most professional real estate company i've dealt with, but they're the most reliable and respond quicker than most companies i've ever dealt with. They were fast, professional, and knowledgable in all aspects of our deal. Would and plan to recommend them to all of my friends and family! 10/10.
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