Dream Home or Starter Home and You
Dream Home - Movers looking to fulfill the American dream, picket fence and all, will soon be heading out to put in a bid for a starter home. Whether you stack your pennies or hit up an auction this is one step that many families feel they must take-even if it takes years to launch. When planning to move with this objective in mind, you are sure to become well acquainted with this lovely term.
What is a Dream Home or Starter Home
Generally Dream Home and Starter Home are terms referred to the first home a family purchases. It may be smaller and more affordable than other homes and is generally one-three bedrooms. Additionally, it is usually a low-cost older home thats on the market though some new homes qualify as well (Wikipedia). It may also be referred to as real estate for first-time buyers or an investment property.
The term may also be extended to other types of ownership such as condominiums as you may see the term ‘starter condos’ advertised as well. Some may just consider it a blanket term for small and low-priced. Others match the definition with being in a great school district, as the term goes “starter” will probably also refer to those purchasing the home such as newlyweds or a young couple looking to ‘start’ a family.
Why the hunt for Dream Home
There are several reasons why people choose homes that fit this qualification. Possibly for investment purposes as they intend on “flipping” the home later on down the line or as a waiting post until they can afford their dream home. Either way its a major decision and should be carefully thought out especially with the current housing market. A win-win would be a home that is affordable but also marketable and will be able to be sold once you decide to move on. Though in some cases peoples’ starter homes also become their longterm homes so this should also be taken into consideration.
Read Why your first home shouldn’t be your dream home - www.realestate.msn.com
A peek at Fremont Dream Home
Some companies have advertised starter homes as dream home in Fremont starting at about $46,000 up to about $200,000. And condos starting at about $170,000 and upward. Descriptions usually detail small ranch and cottage style homes as well as handyman specials. Additionally you may find listings for up to 4 bedrooms in this category as well. Ebay classifieds, trulia and Craigslist are other places to find some hot deals for first time home buyers. Start planning!
Dream Home Purchasing alternatives
Rather than taking on the burden and stress of a loan, city auctions, foreclosures, and rent-to-own arrangements are other ways to purchase that starter home outright and become your dream home. Its not so farfetched especially if you are considering a handyman special and don’t mind a not so cosmetically appealing home for the first year or so. Some families do the bare minimum to make the property livable and make adjustments as they go along while others make other living arrangements while work is being done.