Reply to Starter homes are now pre-fab Tiny homes: consider moving

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[quote=Anonymous][quote=Anonymous]We are living in our starter (forever?) home.  It is neither of what you describe above.  It's also not in a trendy area code, though still in DMV.[/quote]

That's great. My point is that for people on the market now, it is getting increasingly hard to do that. Starter homes are often snapped up by developers as tear downs to be replaced with huge homes that are decidedly NOT starter homes. Even those that are not, have seen massive increases in costs, in part because there are so many investors on the market, which impacts supply and can make it hard to buy a home if you are financing it, which the vast majority of first time buyers are.

People often accuse new, younger buyers of being unrealistic about their first home and how big or nice it will be. IME, most first time buyers become fairly realistic quite quickly, but there are simply not enough starter homes available within a starter budget, and those that are there get snapped up quickly (often by developers). This is true even in non-trendy area codes with mediocre-to-bad schools -- homes offered at lower price points go very quickly and there aren't many of them, and first time buyers are frequently outbid by investors.

To then be told "oh the tiny home is the new starter home" and then be shown a 500 sq ft cabin in the woods with one bedroom and that does not even appear to be incorporated into a city with schools and other services is a slap in the face.

Give me a 2-bedroom, 1-bathroom, 1200 sq foot bungalow with a 1980s kitchen in Wheaton inbound for an okay but not great schools and I will buy it, but not for 600k. This is what I'm saying.[/quote]

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