Finding a Starter Home in Granbury
The starter home, what does that mean anyway? It can mean a myriad of different things and it changes based on the person you are asking's opinion. The one common attribute of the opinions is that it is a first home. But what someone's first home should be, again, circles back to opinion.
How Views of What a Starter Home Is Differ
When considering purchasing a first home a Granbury homebuyer may share these thoughts with friends and acquaintances and often it is met with some thoughts and advice from those people on how to start their homeownership adventure.
A Granbury first-time buyer might hear, "well don't set your expectations for your first home too high, just look for a home that you can make do with to get you started, especially in this market."
Some might advise you to wait a little bit longer and not settle for a property you just plan to dump off in a few years because the real estate market is never 100% predictable. To believe you can buy a home just to buy it because it's at the lower end of the market value for the area only to sell it at profit in a few years is a dicey unpredictable risk.
Both of these pieces of advice have some truth to them. But what also needs to be taken into account is the type of homes available in your area and your personal needs and financial situation as well as the local real estate market trends. So what is a Granbury first-time buyer to do when looking for a starter home?
What is a Starter Home?
Most often when people think of a starter home they think of a first home that is on the more affordable end of the current market prices and this often translates to a smaller property that the buyer will at some point grow out of and as such it is just a home to get them started until they find the one they really want to live in.
Starter Homes Can Be Different
In some cases, buyers may not have to settle for a smaller property just to get started in property ownership in hopes of building equity and selling at a profit all for the goal of putting more money down on the purchase of a home they truly want.
Sometimes a starter home might become more of a long-term home, for a number of reasons. The market is never predictable and maybe it won't be favorable for selling at a price that would help the owner get into their anticipated next home. Or maybe the owner begins to set down roots in the community and does not want to move outside of the current school zoning boundary they are in. Or maybe the owner just finds themselves in a stage of life where staying in the starter home for a bit longer just makes more sense because of a commute to work that is ideal and fits into their whole life schedule. And much more.
Whatever the case it is good to consider affordable price points on a first home, but don't, make it the only reason for buying.
Advice on Shopping for a "Starter" / First Home in Granbury
The first thing you want to do when shopping for a starter home is to consider a few key factors of the home and ask about the current Granbury market conditions and availability of what you are looking for. You want to determine the location you will want to live to fit into your work and daily life activity needs, the price, and if there are properties that fit this description in the Granbury area currently.
It is good to ask yourself how long you plan to be in the home, but also account for the possibility of life throwing curveballs and having to stay there just a bit longer than intended, or falling in love and not wanting to move. Don't lock yourself into a property with no potential for growth or ability to grow.
Consider if a home that is on the lower end of listing prices because it needs a little improvement might be right for you. If you are open to making some improvements and have the ability to save extra money or purchase a home that allows you to afford to put money into upgrades, it might be worth the boost in equity earnings.
If you are curious about the possibilities of purchasing your first home in Granbury please contact us any time.
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