Planning to Buy a Starter Home? Here is what you need to know
Aug 26, 2016 Home Trading Steps
Everyone has a dream to buy a home. ‘Starter home’ is a compact home designed and built for you to meet necessary requirements. Usually, all tend to buy their first home putting in the maximum fund to get the best as their houses.
Buying a starter home is now a status of adulthood for young generation as they decide upon giving up rental living and decide upon owning a property. It’s a benchmark for ending landlords’ association and starting of autonomy. One is deciding upon investing an amount into a self-owned, valuing asset every month. One enjoys the best of home ownership regardless of the size of the starter home. You are the owner now and do not need the permission of a landlord to make any renovation or modifications of the house. Of course approval of a housing society still persists for some changes that you want to make).
What does one look for?
Amenities: Starter homes are the transitional homes and in most of the occasions the starter home is not a ‘final’ home that usually one lives in. A starter home is the one usually bought when the buyer is not at the peak of financial capacity. Affordable cost and affordable maintenance prices are in the picture. One cannot expect luxurious amenities here. Buyers’ priority is a decent size of the living area with a balcony. Basic amenities are the main focus areas, such as water supply and electricity supply which cannot be compromised upon.
Location: It is a critical factor. One looks for easy commuting access to the workplace, well-connected area with public transport. It is because owning a vehicle may be secondary at this stage. The presence of retail outlets is another important aspect that one looks for and access to decent schools and hospitals. It is very critical to choose a location as many first-home buyers take a back step when it comes to their lifestyle quotient. Usually, when one actually plans to buy a small home, affordable houses are mainly at the locations which are under-developed or the emerging ones.
All you need to do is have the patience to do intense research to evade such a ploy. Your search is first limited to online ones. You would do an intense online property search on known websites looking for a small, decent house within your pre-defined budget. You end up looking for a house at emerging locations. However, you have options of better locations available. This is when you need to contact real estate brokers as they have better knowledge and good access to the database. At times, some of the affordable options are not marketed online due to maybe some reasons. But such projects do exist.
All developing locations are not made equally. Some of the builders or projects propose far better locational benefits than other projects and renowned developers often launch township-style schemes in which almost all requirements of inhabitants are effortlessly met. Apparently, houses in such areas and projects will be valued much faster than other projects. His means that a starter home buyer is getting into advantageous possession of the property for an upcoming upgrade to a superior home.
Buying a starter home is now a status of adulthood for young generation as they decide upon giving up rental living and decide upon owning a property. It’s a benchmark for ending landlords’ association and starting of autonomy. One is deciding upon investing an amount into a self-owned, valuing asset every month. One enjoys the best of home ownership regardless of the size of the starter home. You are the owner now and do not need the permission of a landlord to make any renovation or modifications of the house. Of course approval of a housing society still persists for some changes that you want to make).
What does one look for?
Amenities: Starter homes are the transitional homes and in most of the occasions the starter home is not a ‘final’ home that usually one lives in. A starter home is the one usually bought when the buyer is not at the peak of financial capacity. Affordable cost and affordable maintenance prices are in the picture. One cannot expect luxurious amenities here. Buyers’ priority is a decent size of the living area with a balcony. Basic amenities are the main focus areas, such as water supply and electricity supply which cannot be compromised upon.
Location: It is a critical factor. One looks for easy commuting access to the workplace, well-connected area with public transport. It is because owning a vehicle may be secondary at this stage. The presence of retail outlets is another important aspect that one looks for and access to decent schools and hospitals. It is very critical to choose a location as many first-home buyers take a back step when it comes to their lifestyle quotient. Usually, when one actually plans to buy a small home, affordable houses are mainly at the locations which are under-developed or the emerging ones.
All you need to do is have the patience to do intense research to evade such a ploy. Your search is first limited to online ones. You would do an intense online property search on known websites looking for a small, decent house within your pre-defined budget. You end up looking for a house at emerging locations. However, you have options of better locations available. This is when you need to contact real estate brokers as they have better knowledge and good access to the database. At times, some of the affordable options are not marketed online due to maybe some reasons. But such projects do exist.
All developing locations are not made equally. Some of the builders or projects propose far better locational benefits than other projects and renowned developers often launch township-style schemes in which almost all requirements of inhabitants are effortlessly met. Apparently, houses in such areas and projects will be valued much faster than other projects. His means that a starter home buyer is getting into advantageous possession of the property for an upcoming upgrade to a superior home.
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