this post was submitted on 18 Oct 2023
288 points (96.8% liked)
Personal Finance
3827 readers
2 users here now
Learn about budgeting, saving, getting out of debt, credit, investing, and retirement planning. Join our community, read the PF Wiki, and get on top of your finances!
Note: This community is not region centric, so if you are posting anything specific to a certain region, kindly specify that in the title (something like [USA], [EU], [AUS] etc.)
founded 1 year ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
But what should be a starter home is also increased...unless you like manufactured homes...which is also expensive >.>
Not sure what you are talking about. Starter homes are still the same. Basic features, unfinished basement, no garage, 2-3 beds, 1-2 baths, likely 20-30 years old and requires some repairs.
Typically will be farther out of the city. It will be a longer commute but still within city limits. It will have some amenities nearby but not exactly on main street, but enough to suffice.
For most large cities I have looked at, usually is in the range of 150k to 250k. Totally affordable for someone making a decent wage of 50k+ to save up the down payment of 7.5k to 12.5k over the course of 1-2 years.
Where I'm at even manufactured homes are being built and starting at 100-200k. Shoot, my 50yo house was 400 and is now estimated to go for 500k which is wild to me after living here for a while.
I wish I was closer to where you're at 😂
Edit: my house isn't too crazy either. 1 car garage, 1 1/2 bath, 1300sq ft