Congratulations, you have decided to take the plunge and buy a home. You must decide if this is your first or forever home.
Texas has something to offer everyone. The various landscapes all have their own exceptional characteristics. Whether you plan on moving to a ranch or city, Texas real estate has everything.
When choosing a house, many deciding factors exist, and a home inspection can help you narrow it down. A home inspection is an exhaustive assessment of the overall condition of a house. Usually, it takes place before an offer is made on the house.
There are many differences between a forever home and a starter home. To help you decide which is best for you, we have listed the aspects of both types of homes.
What Is A Forever Home?
A forever home is where you can see yourself living out your life. It will have everything you want in a home.
Generally, a forever home will have more bedrooms, a larger kitchen with more fittings, a yard, and easy access to public transport. When you plan on spending your life in one place, it should have everything you might need.
A forever home offers advantages like growing into your space and a complete creative license. When moving is a non-issue, you can collect bespoke furniture and invest in features you love.
What Is A Starter Home?
A starter home is generally purchased by young professionals just starting to climb the career ladder. A starter home offers more financial flexibility than a forever home, with lower costs to buy and maintain.
A beginner home is generally something with one to two bedrooms and limited space. Some advantages include a lower price point, lower property taxes, and less upkeep. With the limited space in a starter home, there is no need for large amounts of furniture.
It might be an excellent investment property if you decide to keep your starter home when you relocate. You can rent it out while living in your forever home, adding another source of income to your budget.
Which Is Best For You?
There are many impacting factors to take into consideration. While a forever home will offer more stability, a starter home is lighter on your budget.
Often, single individuals opt for a starter home, while families lean towards a forever home. Choosing your new home is a deeply personal choice.
Buying a forever home means you will need more time to save for the down payment. A starter home can get you out of renting and into the home-owning phase of your life.
When choosing which type of house to buy, consider if you plan to expand your family, how long you want to be there, and your affordability.
In the end, buying a starter or forever home is entirely up to you. There are many reasons to choose any option—and you may opt for a hybrid approach, purchasing a starter home and then relocating to a forever home when you’re ready.