Buying A Starter Home

How to own a home

We all have an image when we think about our dream home. Marble kitchen counters, contemporary, open space layouts filled with Instagram worthy corners.

But before you can afford your dream home there is something called a “starter home.” I know it may suck at first but this initial step is a must unless you’re someone like Kylie Jenner who can afford a mansion at a young age. If not, then keep reading. I will tell you how you can buy a starter home and what it really is.

First of let me ask you something I think I know the answer to, Are you tired of renting?????

Things that suck about renting:

• A shitty landlord
• Bad inconsiderate roommates
• Loud neighbors who blast music, and argue in the parking lot loud AF.

That stuff gets pretty old and sure enough, you want to just OWN your place. I get it. I also get the difference between renting and buying a home may seem huge, especially when you factor things like student loans into the picture. In reality, though, student loans are not a deal breaker when it comes to buying a house. You can most likely afford to buy a starter home.

WHAT’S A STARTER HOME?

Yes, it’s what it sounds like. It’s the first house, apartment, and condo that you actually buy instead of rent. This is what you buy before you get your larger “forever home.” Don’t rush but don’t lag on it either. Typically you’d want to live in this starter home 5 years. Figure out where you want to live, what type of home and mortgage you can afford, and how long you anticipate staying there. Again having student debt is not going to be a deal breaker. Don’t limit yourself just apply and try.

KEYS TO BUYING A STARTER HOME

1. Don’t rush into the purchase
2. Find the right lender- I can’t stress this enough. Finding the right lender is so important for numerous reasons. They can save you a ton of money with closing; provide you with the best interest rates and more. I have a few that are amazing and have closed many deals with. I trust them. I love that they work fast, honest, and are reliable. But seriously get your finances in check and get pre-approved before you start searching. It helps clarify what you can afford and prevents you from looking at things that are out of your reach ATM.
3. Search and Destroy- Get yourself a nice little checklist and while you’re searching start checking it off. Knowing what you want helps save time and money. Remember to write needs and wants, don’t get them confused. Feel free to download my app to receive the newest home updates right on your phone! It’s amazing.
4. Talk about your concerns with your agent

HOME BUYING FEAR FACTOR

I know it’s important to address your home buying fears, they are totally normal and I’d be surprised if you didn’t have any. One thing you can do to help relieve some fear is to relate the monthly home payment very close to the first-time rent expense. Don’t think about the $150,000-$200,000 home purchase, think of the $1,000 a month or $1,500 a month.

Just rip the fucking band-aid!

You just have to do it, if you always put off buying a house you’ll never get to it. Take the appropriate steps but do it! I hear so many potential buyers say “I’ll buy when prices go down” and it’s been years and now they can’t afford what they originally wanted. So if your finances are in the clear and you can afford to buy, just go for it.

Confront your fears as soon as possible, take the time to do research, trust the people you are working with, and you will be well on your way to kissing your apartment goodbye and closer to hosting a fabulous housewarming party. Don’t forget to invite me; I’ll bring the Rosé.

As always thank you for reading, I appreciate you and your time.

Your favorite REALTOR® gal

Damaris S.

xx