(Closed) Buying our first home: Starter or Forever Home

posted 6 years ago in Home
  • poll: Starter Home or a Forever Home?
    Starter home, you can always upgrade later : (92 votes)
    52 %
    Forever home, it's always good to plan ahead : (74 votes)
    42 %
    Other : (10 votes)
    6 %
  • Post # 3
    Member
    764 posts
    Busy bee
    • Wedding: September 2011

    I think it’s always best to buy a home that suits you now AND later. Your first home doesn’t have to be your forever home but it should suit you where you see yourself in at least 5 years.

     

    Post # 4
    Member
    6825 posts
    Busy Beekeeper
    • Wedding: June 2011

    I have to agree with SFreeman2187 buying house should be fitting your life now and down the road some. For example the house Darling Husband and I bought, could be considered a starter home but also a forever home.  Honestly the only way I could see us moving is either due to different job situation which takes one or both of us out of the state or if we have more than 2 children. 

    I know in the future I would love to remodel our home but am happy with what we have now.

    Post # 5
    Member
    13099 posts
    Honey Beekeeper
    • Wedding: July 2010

    I voted Other and I’ll explain why.

    Darling Husband and I are house hunting for our first home now.  We’re hoping to find something with at least 2200 – 2600 sq. ft and 3-4 bedrooms.  Although it is just the two of us (and our dog) for now, we plan to be in this home for at least the next 8 years or so and should have a couple of kids by that time.  So we want to make sure we’ll have room for our expanding family and our dog.

    That said, once our kids start entering school years (~8 or 9 years from now based on our TTC timeline), we plan to move to a more suburban area with a much better school system within the same city.

    So while our first home isn’t a “forever” home, I also think it is much more than a starter home because we want to ensure we don’t outgrow it within a couple of years.

    Post # 6
    Member
    14480 posts
    Honey Beekeeper
    • Wedding: June 2011

    Plan ahead.  I know of too many people that decided to go with a starter home and then planned to move to a better neighborhood/bigger place only to get screwed by the market and get stuck.

    Post # 7
    Member
    1327 posts
    Bumble bee

    Buy what you can afford, it is as simple as that. We can only afford a two bedroom apartment so that is what we bought, in 3 to 5 years would should be able to afford a 3 bedroom townhouse so we will move up then. If you can afford a big house then go for it but don’t put yourself in money trouble.

    Post # 8
    Member
    1701 posts
    Bumble bee
    • Wedding: August 2010

    I agree that it should be good for at least 5 years.  We went the starter home route.  Had we waited for the forever, we still wouldn’t afford it (2.5 years later). We will probably have to move or add an extension in another 2.5 years (when we might think about baby number 2).

    Post # 9
    Member
    764 posts
    Busy bee
    • Wedding: September 2011

    I should add that I am a Realtor in Texas. I always ask my clients what they plan their life to be like in 5 years. Then 10. And I work from there.

    Post # 10
    Member
    3375 posts
    Sugar bee
    • Wedding: October 2011

    The thought of a “forever home” scares me. I like moving every five years or so.

    That being said, my home is a teeny condo that we hope to rent out once we’re ready to move onward to a bigger home.

     

    Post # 11
    Member
    5494 posts
    Bee Keeper
    • Wedding: August 2011

    When looking for our first home we had an eye towards a home we could see ourselves in for the next 5-7 years.  That included the addition of a dog and at least one child.  However with increased income and built equity in those 5-7 years we for sure intend to upgrade.  I can’t image living in one house forever. 

    Post # 12
    Member
    10714 posts
    Sugar Beekeeper
    • Wedding: June 2012

    Our situation is a little different. Were looking for a home to raise our kids then we want to get our dream home when they are older. The reasons are because I can’t take my son out of the state unless I want to fight for full custody, and we want to move to the beach. It would be easier to raise babies here and then move to the beach when they are at least teenagers.

    I vote forever home but our forever home can’t happen right away and I don’t want to be stuck renting for 10 more years.

    I don’t ever ever want to have to move more than twice… I was moved around so much as a kid (almost once a year!) it was terrible- I won’t put my kids through it, I still don’t have any close friends. =/

    Post # 13
    Member
    2142 posts
    Buzzing bee
    • Wedding: August 2010

    It depends. Can you afford your dream forever home now?

    Even if you plan to start TTC in 2-3 years it could easily be 3-5 before your baby actually arrives…

    Post # 14
    Member
    7609 posts
    Bumble Beekeeper

    Just remember how much moving sucks!  If you can afford your “forever home” now, then why not get it?  Fiance and I just bought our first home and we can easily see ourselves living there as our kids (that we don’t yet have, haha) grow up.  It has 3 bedrooms upstairs and an unfinished basement (and he’s a contractor and can easily finish it to add whatever we decide on).  More than what we need right now, but it should be just right in a few years.  If it’s not, we’ll move, but I like to think we could stay there if we wanted to.

     

    Post # 15
    Member
    784 posts
    Busy bee
    • Wedding: February 2012

    We got a house that isn’t necessarily a fixer upper, but is nice enough that we didn’t need to do major improvements which has been nice. It’s also big enough to grow, could fit one maybe two kids in there. We plan to stay here for another five years or so, by that time, I’ll be done with nursing school and making good money, and we will get the “big house” that we’ll grow old in at that time.

    Post # 16
    Member
    5423 posts
    Bee Keeper
    • Wedding: November 2012

    I feel like “starter home” used to mean 5 years or so but with the economy it could easily be 10 or longer.  You dont need to find your forever home but I would definitely suggest finding something that your going to want to be in for a good amount of time.

    Thats how Im approaching the process.

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