A starter home is the first home that a buyer can afford to purchase. It might be a little dated. It might need some work. It might not be in the exact neighborhood that you’d love to live in. It might be a condo instead of a single-family home. But it generally ticks the boxes for size and price and earns you the title of homeowner.
When we meet with buyers, there are a lot of questions about your wants and needs and how that works with your budget. Often, we find that something has to give. When it comes to a starter home, you might have to settle for less square footage or spend a little more than you planned or tackle a bit of a fixer-upper.
Everyone starts out with a massive list of “I have to have…” but being inflexible can leave you out in the cold during a seller’s market, particularly if you are searching for affordable properties in New Orleans. Affordable being a relative term, you know.
One of the biggest choices you’ll need to make is to decide whether you are shopping for a forever home (hint: no one actually buys a forever home the first time around!) or a for-now home.
