Finding the Right Starter Home | Trusted American Mortgage

When most people think of their dream home, the first home they end up in usually doesn’t come to mind. While many people want a large, spacious home with all the bells and whistles, that may not be completely realistic for 20- or 30-somethings purchasing their first home.

But there is no need to fret! Finding a starter home that you love and that fits your family’s needs is completely possible. With a few tips and some planning, your perfect starter home is right around the corner.

Set a Realistic Budget

Not surprisingly, money management is a huge part of purchasing a home. Be realistic when determining how much you can devote every month to a mortgage, utilities and other recurring bills.

It is also a good idea to give yourself a little financial wiggle room. After all, you will now be responsible for all repairs and upgrades within the home.

Once you’ve calculated how much you can afford, you can begin the searching process.

Consider Location

When it comes to where the house is located, what are the most important factors for you? Do you care about a long commute, or are you willing to drive farther for work if it means a lower mortgage payment.

When figuring out where to live, consider the cost of commuting to work when setting a budget.

If you’re planning on starting a family and staying in the home for many years, you’ll want to think about the school district a potential home resides in. If schooling isn’t a factor, consider how far the home is from things that are important to you, such as your church or restaurants.

Longevity of the Property

Are you planning on starting a family in your starter home? Is there enough space?

Or are you wanting to live in a home for a few years, enjoy time with your partner and then find a new home to build a family in?

Realistically, how long can you and your family live in the home comfortably? These are important questions to ask yourself when finding a starter home.

When you’re unsure whether purchasing a home is right for you, consider all of the perks of buying as opposed to renting. Building equity in a property, not throwing money away on rent and not having to deal with potentially awful landlords are only a few benefits of owning your own home.

When you’ve picked a general location, set a realistic budget and you’re ready to purchase your starter home, contact us today to get the ball rolling!