As a first-time homebuyer, you may be leaning towards purchasing a start home as your first property. These homes are
usually smaller single household units, but perhaps the space is just what you need for now. 

Before purchasing a starter home, there are a few aspects to consider before finalizing a purchase. 

Consider the condition of the home 

Before purchasing a starter home, it’s a good idea to decide if you’d prefer a turn-key home or a fixer upper. 

A turn key home typically refers to a property requiring little to no maintenance, and comes with a higher price tag.
A fixer upper may cost less, but you’d need to invest a little extra into maintenance. 

Consider plans for the future 

Before purchasing a starter home, examine your future needs to determine if the investment is worth your time. How
long would you like to stay in the home? If you intend to increase the size of your household in a few years time,
does the house have enough space? 

Many starter homes are a bit older and require a little extra care, so if you would like to aim towards purchasing
your dream home next, consider the cost of repairs. Would the finances going towards repairs slow down the process
of saving for your next property? 

Does the home fit within your budget? 

For many first time homebuyers, starter homes are a great way to get used to homeownership while breaking away from
the renter life. 

In addition to the price of the property itself, other expenses are included with owning a home. These include but
are not limited to: 

• Property tax
• All utilities 
• Yearly maintenance
• Home insurance 

It’s essential to add these items into your budget as you figure out how much house you can afford. 

If you’re feeling unsure or need guidance on your journey to homeownership, a trusted real estate agent can help you
figure out if a starter home is for you.