Starter Homes

How many people here are in or began with a starter home? If you bought a starter home, do you think in 5-8 years your home would appreciate enough to have a down payment for another house?

Re: Starter Homes

i bought a starter home...well condo
and it certainly did appreciate enough

but now a days....i really think things will not jump they way they did in the past...

If you bought my condo now ...it wouldn't appreciate the way it did when i bought it....

but i think it also depends on where you buy your starter home..

some areas are just tapped out and are actually decreasing in value

Message edited 8/6/2006 11:02:51 AM.

Re: Starter Homes

Re: Starter Homes

We bought our starter home just over 2 yrs ago. We expect to be here for at least another 3-4 yrs depending on the market. I hope to upgrade to a larger home when we outgrow this house. It's hard to say how much we'll be able to profit from this house though the way the market is....I think it's leveling off a bit but I still expect to increase in value over the next few years.

Re: Starter Homes

DH bought his in 1998 from the original owner (single woman) for 150K. It was all original 1957. By the time we sold last August everything had been replaced... kitchen, bath, CAC, new deck, front porch, driveway, garage door, security system, finished basement, boiler... all except new windows and refinished floors.

We sold for almost 3x the price of what he originallly paid for it.

Re: Starter Homes

We bought a starter home last year. We really like the area, so we might stay and expand. If not, we'll sell in about 5 years. I think it will give us a decent DP for our next home.