Is anyone skipping their "starter home"?

[MovingTarget]

I simply disagree with the whole concept of a "starter home". You should only buy a house after you are well-established in your career and have a decent down payment. If you don't plan on buying a McMansion, then a modest home is a one time purchase (unless you uproot to move elsewhere, not the same as "trading up".). Besides, if you get a home in a decent-enough area, you can simply add on a room or whatever if you have kids...

 

[Kelemvor]

That's fine if you aren't paying rent now. If you re renting, the longer you wait, the more money you are flushing down the toilet every moth with nothing to show for it.

If you buy a house, even if it's not your dream house, you own the house. Money you pay towards goes towards your equity. If you have the option of renting vs owning a house, get the house.

 

[alkemyst]

this is the new excuse for those to afraid to move out of mommy and daddy's house.

 

[SacrosanctFiend]

Originally posted by: JLee

Originally posted by: JMapleton

Originally posted by: JLee
That's too much cleaning. 😛

I'd like to get ~2000sq ft with a decent garage (2-3 car) and find a good roommate or two.

Do you plan to have a family? If so that is not a lot of space unless you have only one kid and keep things tidy at all times.

I grew up in a family of 7 in a ~2000sq ft house. Not everybody is rich. 😛

Lord, I spent 4 years in a ~8000 sq.ft. house with one sibling and it wasn't enough space all the time.

 

[Chryso]

You are much better off buying a cheaper home first and paying on it like it was more expensive. Do this a couple of times before you get your dream house and you will have paid a LOT less money in interest by the time all is said and done.

 

[Kelemvor]

Our house is 1450 sqft. Wife and I, 3,5 yr ld and a 4 month old. House is plenty big. Also have a full basement that half of it is finished as living space.

I grew up in a family or 5 in a house that was about the same size.

The thing is, it's all about what you know. If you grow up in a smaller house, you know that you can make it work just fine. If you grow up in a huge house, your mind can't figure out how to possibly live in a smaller one... which sucks for you since you'll be forcing yourself into a much larger and more expensive house than you need.

 

[Genx87]

I'd wait about 6 months when the next round of foreclosures comes on the market from the recent layoff's. There will be nice homes for very cheap. Save your money now and get ready. I am kicking myself for getting a home in 05. If I paid rent for 4 years I would be in a position to pounce.

 

[rgwalt]

I am working on buying my first home right now... I wouldn't call it a starter home, I certainly didn't go out and buy a place the first chance I could. On the other hand, I could have waited another year or two and saved for an even nicer place (one with a roof-top deck). My goal was to get away from renting, start building some small amount of equity in my home, and not have to worry about moving again for awhile. Plus, if work moves me, owning a home is very lucrative.

R

 

[Descartes]

Though I owned a home before, the wife and I skipped a starter and got a nicer home. I'm guessing that wasn't you were talking about, but that's what we did and I'm happy for it. We love our home. It has taken a hit from the market recently, but thankfully nothing severe and we'll rebound before we move.

 

[Fritzo]

Originally posted by: SacrosanctFiend

Originally posted by: JLee

Originally posted by: JMapleton

Originally posted by: JLee
That's too much cleaning. 😛

I'd like to get ~2000sq ft with a decent garage (2-3 car) and find a good roommate or two.

Do you plan to have a family? If so that is not a lot of space unless you have only one kid and keep things tidy at all times.

I grew up in a family of 7 in a ~2000sq ft house. Not everybody is rich. 😛

Lord, I spent 4 years in a ~8000 sq.ft. house with one sibling and it wasn't enough space all the time.

8000sq ft?????? Are you sure? This is what an 8000 sq ft house looks like:

http://www.manzanilloresorts.c...ANTADA/Encantada05.jpg

 

[tfinch2]

Originally posted by: Kelemvor
If you re renting, the longer you wait, the more money you are flushing down the toilet every moth with nothing to show for it.

I'm not knocking buying a house, and I plan to do so very soon, but saying something like that is just plain stupid. When you look at paying for a house (mortgage, insurance, property taxes, PMI if you have it), have you calculated how much of it actually goes to the principal?

 

[waggy]

Originally posted by: SacrosanctFiend

Originally posted by: JLee

Originally posted by: JMapleton

Originally posted by: JLee
That's too much cleaning. 😛

I'd like to get ~2000sq ft with a decent garage (2-3 car) and find a good roommate or two.

Do you plan to have a family? If so that is not a lot of space unless you have only one kid and keep things tidy at all times.

I grew up in a family of 7 in a ~2000sq ft house. Not everybody is rich. 😛

Lord, I spent 4 years in a ~8000 sq.ft. house with one sibling and it wasn't enough space all the time.

i think you really don't know how big 8k sq ft house is.

Originally posted by: Kelemvor
That's fine if you aren't paying rent now. If you re renting, the longer you wait, the more money you are flushing down the toilet every moth with nothing to show for it.

If you buy a house, even if it's not your dream house, you own the house. Money you pay towards goes towards your equity. If you have the option of renting vs owning a house, get the house.

not true. why should a person buy a house when they are not going to be in the area for long? what about someone who is nto sure about the job market?

either way thats a ignorant statement.

 

[JDub02]

real estate is way too expensive here. small "starter" houses are still on the market for $200k. if the market keeps dropping, i'll jump in around $150k. anything more than that isn't worth it as i'm already planning on moving in 3-4 years. i'd love to stop flushing $1100/month down the toilet for rent.

 

[lokiju]

Yes, I already bought my starter home.

While it's not the home I'd like to keep forever, it is big enough to do the trick if need be.

It's a 4 bedroom 2 bath with 2 car garage.

Only things I'd like to have in another home would be a basement and a larger back yard/more land. Also a half bath would be nice.

 

[SacrosanctFiend]

Originally posted by: waggy

Originally posted by: SacrosanctFiend

Originally posted by: JLee

Originally posted by: JMapleton

Originally posted by: JLee
That's too much cleaning. 😛

I'd like to get ~2000sq ft with a decent garage (2-3 car) and find a good roommate or two.

Do you plan to have a family? If so that is not a lot of space unless you have only one kid and keep things tidy at all times.

I grew up in a family of 7 in a ~2000sq ft house. Not everybody is rich. 😛

Lord, I spent 4 years in a ~8000 sq.ft. house with one sibling and it wasn't enough space all the time.

i think you really don't know how big 8k sq ft house is.

Considering that I lived in one...I do.

First two levels

Side shot of bottom level

My car, the next door house, and you can see the house I grew up in through the reflection

If that doesn't satisfy, I can get more exterior shots plus interior shots.

 

[Capt Caveman]

Originally posted by: SacrosanctFiend

Originally posted by: waggy

Originally posted by: SacrosanctFiend

Originally posted by: JLee

Originally posted by: JMapleton

Originally posted by: JLee
That's too much cleaning. 😛

I'd like to get ~2000sq ft with a decent garage (2-3 car) and find a good roommate or two.

Do you plan to have a family? If so that is not a lot of space unless you have only one kid and keep things tidy at all times.

I grew up in a family of 7 in a ~2000sq ft house. Not everybody is rich. 😛

Lord, I spent 4 years in a ~8000 sq.ft. house with one sibling and it wasn't enough space all the time.

i think you really don't know how big 8k sq ft house is.

Considering that I lived in one...I do.

And how could it not be enough room for a family of 4? You basically have enough sq footage for four normally sized homes.

 

[MovingTarget]

Originally posted by: alkemyst
this is the new excuse for those to afraid to move out of mommy and daddy's house.

An excuse? For some, maybe. However, there always have been distinct financial advantages to staying in your parents' home to build up a good sized down payment. It all depends on the person. Besides, there is a long tradition of multigenerational housing. Moving out is not a requirement to grow up or mature.

 

[sdifox]

Originally posted by: SacrosanctFiend

Considering that I lived in one...I do.

My car, the next door house, and you can see the house I grew up in through the reflection

If that doesn't satisfy, I can get more exterior shots plus interior shots.

Dude, I don't think you should be putting up links with address and direction to your house.

a better idea would have been pictures only.

 

[SMOGZINN]

Originally posted by: Fritzo
I'd recommend against it.

1) You don't know what you want until you've owned a house. You may think you do, but you have no idea. If you buy one and plan on it being your only house, you're going to find that there's other things you need that you didn't plan on, and I guarantee you're going to end up moving again.

2) A fixer-upper gives you home ownership experience. Everyone should know basic plumbing, electrical, and contruction skills. Your first house allows you to screw these things up as you're learning, that way your next house is perfect.

3) The purpose of the starter house is to fix it up, sell it at a profit, and then use the profit as a downpayment on an upgrade. You typically want to do this 1-2 times before you get to your "keeper house."

Number 1 on this list is the most important. I can tell you with a high degree of certainty that if you have never owned a home you have no idea what you really want out of a house. I?m on my 3rd and I think I?ve finally got most of it figured out, and just found out today that I?m going to be moving to a new city and already have a laundry list of things that I?ll change for the next house.
Number 2 on his list is important, but I?d never consider buying a house that wasn?t a fixer-upper anyway. As long as the hard stuff is good all the little stuff like flooring and drywall can be easily and cheaply fixed by yours truly. Personally, I think I?ll rent for awhile on this move, and build my next house myself.

And why are people still staying in places that have million dollar 3 bedroom houses? You realize that my 3 bedroom 2400 square foot house on a half acre of land in a decent middle class neighborhood will only sell for about $120k? I?m starting to look at rent houses and I consider $1000 a month about right. Move south young men.

 

[sdifox]

Originally posted by: lokiju
Yes, I already bought my starter home.

While it's not the home I'd like to keep forever, it is big enough to do the trick if need be.

It's a 4 bedroom 2 bath with 2 car garage.

Only things I'd like to have in another home would be a basement and a larger back yard/more land. Also a half bath would be nice.

you have 2 bathroom but don't have a half bath? or do you mean you want 2.5?

 

[SacrosanctFiend]

Originally posted by: sdifox

Originally posted by: SacrosanctFiend

Considering that I lived in one...I do.

First two levels

Side shot of bottom level

My car, the next door house, and you can see the house I grew up in through the reflection

If that doesn't satisfy, I can get more exterior shots plus interior shots.

Dude, I don't think you should be putting up links with address and direction to your house.

a better idea would have been pictures only.

Anyone who wants to go bother my father, have fun. He's a huge gun nut with a short temper.

Edit: I haven't lived there in over 6 years.
Edit 2: By me stating that, I realized he would probably kill me afterward.

 

[CRXican]

I wouldn't mind buying a house but I don't have that solid full time job nailed down yet. I have a down payment of maybe $15,000 but that's more emergency money.

It's a great time to buy a house if you have a guaranteed, long-term income. In this economy however that's hard to be 100% certain of. I have a couple friends who just bought a house together (terrible idea). They have been there a few months now and that friends job just announced layoffs. Supposedly he will be spared but I can't imagine going into a home purchase and two months in having my employer mention the word layoffs.

Not a good idea.

 

[Miramonti]

I just bought my first house, considered a starter to many. However being self-employed I'm ever fearful of having bad years and always want to minimize my overhead to be in a position to handle them.

Saving for a large house doesn't mean squat, its the monthly income that's required over the long run to pay for the mortgage and taxes etc., and sustain it and maintain it. A larger house means its more expensive for *everything*, from furnishing to utilities to maintaining to upgrading. No thanks.

 

[sdifox]

Originally posted by: SacrosanctFiend

Originally posted by: sdifox

Originally posted by: SacrosanctFiend

Considering that I lived in one...I do.

My car, the next door house, and you can see the house I grew up in through the reflection

If that doesn't satisfy, I can get more exterior shots plus interior shots.

Dude, I don't think you should be putting up links with address and direction to your house.

a better idea would have been pictures only.

Anyone who wants to go bother my father, have fun. He's a huge gun nut with a short temper.

Edit: I haven't lived there in over 6 years.
Edit 2: By me stating that, I realized he would probably kill me afterward.

lol, yeah, you don't live there, just put him on the internet... good job...

he will shoot your ass 😀

 

[Miramonti]

That's great, quote his @ss, so even if he wants to heed advice to remove his personal links he can't...