If you’re looking to buy your first house, the phrase “starter home” can spark both excitement and apprehension. It can also feel somewhat ambiguous. What does a starter home actually look like in terms of price, size, and condition? In this guide, we’ll help you get a better idea of what you can expect if you’re shopping for a starter home in your market. We’ll also share a list of affordable starter home cities and provide a home affordability calculator to help you plan your next move.
A starter home represents a buyer’s first step into homeownership. These homes are generally more affordable than the broader housing market and are often smaller, older, less updated, or in need of repairs. They are also often located farther from major city centers. Based on national averages taken from home listings, here’s a rough physical blueprint of what a typical starter home might look like: While this list provides some common physical characteristics, what matters most to first-time home buyers isn’t usually the home’s size or style; it’s that the price and monthly payment are within reach.What is a starter home?
