Reply to Genz and millennials don't want your small starter homes want forever homes now

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]We are millennials and bought a forever home [/quote]

I'm a Millennial married to an Xer and we knew a decade ago not to buy a starter home. Why in this market would I want to pay realtor fees on upgrading when I could save that money for my kids' college tuitions? Why would I take on another mortgage when I paid off the one I have?[/quote]

We stayed in our starter house and saved.  Easier solution. [/quote]

I mean our "forever home" is a 4 br, 3 ba, 1600 sq foot home we shove our five person family into. It fits us, but it's tight.[/quote]

starter homes dont have four bedrooms and three baths. My house I grew up a family of six was a starter home had three bedrooms and one bath. 1,200 sf on a 40x100 plot.

Your house in that neighborhood would be called an Executive home My neighbors next block who were rich lawyers and doctors had the 1,600 sf models.

It goes to show how much home sizes have increased over last 50-80 years   [/quote]

This sounds horrific and I grew up in the city. What happened if anyone had stomach flu? How did you get ready in the morning? Even a simple shower takes at least 10 minutes, then also add flossing,  shaving etc. [/quote]

You shower night before. No one flossed. And I brushed my teeth over kitchen sink plenty. No one shaved as we were kids. My Dad left for work early before we got up and Mom went in while we were at school.

Here is History of house. 
First owner paid 3k for plot in 1918 and had house built 2023 for 3k Cost 6.5K
Parents Bought house for 36k in 1973 in estate sale. Around 6x prior owner price. 
We sold it estate sale in 2003 for 550K around 15x our purchase price. 
Sold in 2011 for 700K
Sold in 2018 for 840k
Sold in 2023 for 980K

it now has an added 1.2 bath on first floor in tiny pantry area and a finished basement.

But to be honest I think it is cheaper today than was in the past. The couple who bought in 1918 the plot their kids told us they go married in 1918 and was already saving for two years living at home and took that and wedding money to buy plot with a little bit of financing. They then both worked full time in a tiny run down cold water walk up apartment in the lower east side which was a slum at the time for 5 years to buy house of of sears catalogue where they had to do a lot of work themselves.

Now people in parents old house just put 5 percent down, finance and hold house 5-10 years and cash out to buy a mcmansion. No longer a house for life. Thats real reason starter home prices shot up. People view it as a get rich scheme.    [/quote]

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