There’s been a trend for young home buyers to purchase a “forever home” instead of a starter home.  So instead of going for a smaller, usually 2 bedroom home with a smaller price tag that they’ll stay in for 5 years or so, young home buyers are looking to buy a bigger home in their ideal neighborhood – a place they’re planning on being in for a long time.

So is there a better or worse way to go?   Here’s some questions to ask to help you make the best choice for you…

Which way to Go – Starter Home of Forever Home?
  • Is a forever home in your budget? And when you answer this question, don’t overshoot what you can really afford. It can leave you “house poor,” a term used to describe when so much of your income is tied up in your monthly payments, you don’t have much money to spend elsewhere.  While a forever home can be appealing, along with the larger mortgage payment, there can be more upkeep and more furniture needed. A starter home can be a great way to get your home life started, keep your income more free from bills, and allow you to sell in order to purchase that perfect forever home down the road.
  • How settled is your lifestyle? This is a big one. Do you really know what you want in a house, and are you sure you are going to stay in this community?  If you haven’t talked about the future with your spouse, or your job may move you, a forever home is probably not the best place to put your money.
  • Do you like the idea of renting your starter home? While starter homes appeal to a smaller market and sometimes do not sell as quickly, they make excellent rental properties. Ask your agent if there are many rentals in the neighborhood or if they think it might be a good fit for you in the future.

We hope this helps you figure out the best choice for you and your family!  Whether you choose a starter home or forever home, a good mortgage will help.  If you’re still looking for a lender, give us a call! We’re a Christian Mortgage lender that’s a direct lender, so we can give you small-company care, with big-power backing.

We wish you all the best!


The Christian Mortgage Mom