For many, buying a home is the fruition of their ultimate dream.
After years of saving, getting to realize that dream in the form of home ownership is indeed quite rewarding. However, bear in mind that home ownership is no small feat and while it makes sense that many individuals would want to ease their way in by purchasing a starter home, the responsibility of home ownership is unlike any other you have experienced before in your life. More importantly, while purchasing a home may seem as simple and straightforward as picking out one prospective residence out of your range of options, it is a bit more complex than that. For one, it is not something you should dive into unless you are completely ready, financially and otherwise. Apart from that, you should know the current state of your finances and consider how much home you can afford. From there, you can then think of the kind of home you need and want then out that against your budget.
As homes are generally much more expensive these days than they were back in the day, it would make sense for some potential homeowners to begin their residential investment with a starter home. Starter homes are often regarded as the training wheels of home ownership. They are typically smaller than your average home which means that maintenance and upkeep will be easier. They may be a small home or a condo that you can afford now with or without making any improvements. On a whole, they serve as an initial residential property where you can essentially learn the ropes of home ownership without committing to the idea of living there forever–at least that was how starter homes used to be.
Today, however, there are spacious and affordable starter homes near the provinces of Manila. These are in the form of a condo or in a house and lot in Trece Martires Cavite or even elsewhere. In this regard, the notion that your starter home does not have to be your permanent residence is virtually obsolete nowadays with the inception of roomier modern startup homes.
Apart from this, starter homes also serve as good investments to build upon. With that said, you need to make a financially sound decision and choose a starter home that meets all of your needs. Below is a list of pivotal factors you should pay particular attention to when choosing your starter home:
FOUR THINGS AN IDEAL STARTER HOME SHOULD HAVE
1.) Secure and Highly Accessible Address
Keep in mind that location is equity in real estate, so with that in mind, it is best if you scout for the best neighborhoods around town and target one that fits your needs. Today, some starter homes are located within proximity of commercial establishments that make them a prime spot to live in. Apart from being located in a safe neighborhood surrounded by good schools, these starter homes make it possible for residents to have nearby access to a range of amenities with a good mix of demographics. Some of these properties are tucked in safe communities where security is paramount. In this regard, your starter home might just be your forever home. Bear in mind that properties located in good neighborhoods are likely to retain its value. While the value might fluctuate depending on external factors, there is nothing to fear about losing your investment. So, if you are looking to invest, you will find that properties located in good locations make for stable investments.
2.) Has Room for Growth
One of the most difficult things about choosing a starter home is finding one that is spacious enough for you and your family. Most starter homes are designed to have just enough square footage. In this regard, you need to find the ones that have potential for growth. Spotting this kind of facet may not exactly be the easiest endeavor. However, when you do find a home with this facet, you have stumbled upon an excellent opportunity for a permanent residence or for investment. Observe the property and take stock of its potential. Are there spaces that could potentially become additional rooms? Are there underutilized areas that could potentially widen up an area? These are the things you should look out for and build upon in the future. Once you find these, you have the opportunity for your property to grow and add more value to your property.
3.) A Thriving Community
Looking for a starter home located in a thriving community and friendly neighborhood is paramount. With this in mind, take the idea of finding a home where you can temporarily settle away from your head and instead, focus on looking for a property that you can find yourself assimilating into. Some of the best starter homes are located nearby commercial establishments such as markets and churches which makes for a well-rounded community. In this regard, you need not go far just to get what you need as establishments are within proximity. Similarly, as these starter homes are located in prime communities, you may even find yourself cultivating ties and fostering relationships with your neighbors.
4.) Built by A Trusted Developer
Last but not the least, look for starter homes that are built by a trusted developer. Before signing on the dotted line, take note of the residential developer’s past projects and see whether they delivered their finished projects in a timely manner and note the quality as well. Evaluate your developer by checking their past projects and their ratings. These are things you need to look out for in order to ensure that your property will not only be constructed, but built and finished in a timely manner as well.
Starter homes are great for individuals who want to ease their way into home ownership. They may also pave the way to permanent residency if your starter home is the right fit. It is a smart move provided that you choose the right property. By keeping the tips above in mind as you make your search for your ideal starter home, you should be able to arrive at a good decision.
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