Your starter home

[si-am]

We are still in ours, four years later.

Built: 1984
1400 square feet (not including full finished basement, which doubles the size)
3 bdr/2 bath
1/2 acre

Busy street
Bad schools
Decent neighborhood

The house had been updated right before we bought with new pergo floors and berber carpet, new master bath fixtures, new kitchen counters and backslpash (tile).

It was a great deal but now we are totally upside down because the value has dropped so much. We have also bought a new roof, new water heater, furnace, a/c unit, and even replaced a toilet! We have cedar siding that is starting to crack. Too expensive to deal with right now!

 

[LuLuO]

Not a starter home, our forever home, at least until retirement. No plans to move unless DH get transferred out of the area.

1363 sq ft
3 BR/2.5 baths
2 car garage
Partially finished basement
.25 acres
Built in 1974

 

[2kidsForMe]

Our first home was a 2bed/2bath new construction condo in CA. It was about 1,000 sq ft. with a one car attached garage. We bought it right out of college in 1994, and barely had the 3% to put down on an FHA loan. I loved that condo.
We are now 3,000 miles away in a 2800 sq ft colonial w/ 4 bed/ 2.5 bath and a finished basement. Cute little town, great schools, big woodsy yard. We don't plan on ever moving now.

 

[scrdofbugs]

Starter home:
approx 1100 square feet
3 bedroom
2 baths
built in the 70's
we added detached garage and did some minor updates like painting
We bought in 1993 and sold in 1998

Then we built our current home on 4 acres in 1999.
It was approx 1600 square feet
3 bedrooms
2 baths
with attached oversized 2 car garage

In 2006 we enclosed garage to make 2 rooms -- theater room and game room/exercise room. Then we had a 3 car detached garage built.

It is now approx 2200 square feet.

It's not fancy by any means but it is all the space we need and I love it. It's home!

 

[tzolkin]

Not a starter home, our forever home, at least until retirement. No plans to move unless DH get transferred out of the area.

This is us too.

We bought our first (and only) home a few months before we graduated from college 8 years ago.

2900 sqft
1860s Victorian
5br/2bath (now)
large yard
detached garage

We bought the house because it had the most potential of any we looked at and it was cheaper than rent (We paid $40K)

Right now we are in the middle of a kitchen renovation. This is the last room left and when done we will basically have a completely new house (sheetrock, wiring, plumbing, etc in every room) plus we built two new bathrooms and added bedrooms in part of the 2nd floor that was unfinished.

DH has done all the work himself, so the renovations have not cost too much money. However, since he has put so much effort into the house we have no intention to move. Only if we had reason to relocate to another state.

 

[stargazer2892]

Just bought ours in May. 2,200 SQFT, 3 Bed, 2.5 Bath, 2 car garage, Bonus Room, Large kitchen, .31 acres. Built in 2006. Nothing fancy, but its home. We plan on sitting on it for a while (at least 10 years).

 

[bigbabyblues]

We're still in the first house we bought and have no plans to move.

2,700-ish square feet
2 story plus full basement
attached 1-car garage
3 bedroom/3 bath
attic

There are a few things I'd like to change, but we're happy here. On the plus side, it will be paid off on my 40th birthday--5 more years! Our payment is much less than most, about the same as people's car payments, and is low enough that we've been able to have both of our children in private school so far. There was no choosing a better school district, all of our public schools are in the same district and none of them are very good.

 

[skysmom99]

Our starter:

-1152 sq. ft
-3 bedrooms/1 bath
-1/2 acre lot
-built in 1973 and still had the dark walls, dark cabinets, and avocado green bath to prove it
-10% down

Three kids later and busting at the seams, we sold it and built a new house on a 6 acre parcel we already owned. Now it's 3 bedrooms/2 baths and 1400 sq ft with another 1400 sq ft in the walkout basement which holds our family room and is set up to add a 4th bedroom and third bath when time/money permit.

The only thing I miss about the first house is the lower monthly payment.

 

[Crazy4Disney06]

We bought our first home in 2005 when the housing market was booming. Wish we had waited a few years as we could have gotten twice the house for the same amount.

1085 sq. ft.
3 bed
1 bath
attached 2 car garage.

We had plans to live in it for about 5 years and sell and "upgrade" however the housing market crashed and we now owe more than we could sell it for. We will probably by a new home in the next few years and keep this house a rental income.

 

[WheelCEO]

Condo; 1400 SF; 2/2; paid cash at the age of 21

Details:
I would have preferred a townhome or villa, but prices in South Florida are all over the place. Wound up enjoying the condo lifestyle; lock your door and leave! Garage parking, Intercoastal views, concierge.. good times were had

 

[torinsmom]

LOL. my starter home will probably be my only home It is just me and my son. It is a 3 bedroom/2 bath, 1000 square foot ranch on 1/4 acre. Great neighborhood with great schools. It was built in 1984 and I added on a new screen porch a few years ago. I doubt I will ever have granite countertops or real hardwood. Just isn't that important to me; my laminate and laminate will do just fine.

Several families I know wish they hadn't moved on up when the economy was doing so well. Now, they are barely scraping by due to job loss and price increases on everything. My poor sister's house is almost 5x the size of mine and her mortgage is also 5x mine. They are likely to lose their house in the next year if things don't improve. She was just saying last night that she wished they had just been content with their 2400 square foot house.

 

[Muushka]

LOL. my starter home will probably be my only home It is just me and my son. It is a 3 bedroom/2 bath, 1000 square foot ranch on 1/4 acre. Great neighborhood with great schools. It was built in 1984 and I added on a new screen porch a few years ago. I doubt I will ever have granite countertops or real hardwood. Just isn't that important to me; my laminate and laminate will do just fine.

Several families I know wish they hadn't moved on up when the economy was doing so well. Now, they are barely scraping by due to job loss and price increases on everything. My poor sister's house is almost 5x the size of mine and her mortgage is also 5x mine. They are likely to lose their house in the next year if things don't improve. She was just saying last night that she wished they had just been content with their 2400 square foot house.

You are level headed, good for you.

Your sister was not content with a 2400 SF house? My goodness, I can't even imagine that. My 7th house is not even that big. But then again, we can afford it. I once heard that door to door salesmen always do better in modestly priced house areas. They usually have money. Not the expensive neighborhoods. Who knew??
I hope your sister doesn't lose her home.

 

[averysmom]

Our first home was 1000 sq feet, 3 bedrooms, 1.5 bathrooms. It was 131% of our annual salary at the time.
Our second home (the one we are in now) is 2000 sq feet, 3 bedrooms, 2 1/2 bathrooms. We purchased it for 140% of our annual salary at the time.

My friend's son just bought his first home. It is (approx) 400% of their annual salary. Scary

 

[m&m's mom]

Starter home:
Purchased in 1991
1400 sq feet
3 bedrooms
2 baths
2 car garage

My husband had a client that owed him money and he ended up trading the debt for the equity in his house and we just took over payments, which were lower than our prev rent. We stayed there 12 years.
So basically paying less than our rent, we walked away with about $100,000 that we put in house #2, but kept the low payment.
We could have bought a much more expensive house with the 2nd house but we wanted to keep our debt low.
Zero consumer debt and house balance of less than 1 year of one of our annual salaries.

 

[ScottOKW2K]

Purchased in 1992:
2,500 sq, ft.
4 br. / 2 bath
2 car garage
10% down and only a few years from being paid off.

Bought because of the school system locally - best public schools in the state !

 

[sukhakuli]

We bought ours in 2001.
1800 sq foot townhouse in a sketchy large city suburb neighborhood. No garage.
3 bed, 1 1/2 bath
0% down
built in the early 80's
Sold it in 2005 for 110% over purchase price.

 

[torinsmom]

You are level headed, good for you.

Your sister was not content with a 2400 SF house? My goodness, I can't even imagine that. My 7th house is not even that big. But then again, we can afford it. I once heard that door to door salesmen always do better in modestly priced house areas. They usually have money. Not the expensive neighborhoods. Who knew??
I hope your sister doesn't lose her home.

They wanted more land and a basement, so they had a house built on 10 acres. There is about 3000 sq feet upstairs and the rest is the half unfinished basement(which is a game room, hangout spot) and then several rooms that they use for storage(could be a MIL suite). I thought their previous house was perfect--corner lot, bonus room, decent sized kitchen, garage, but then I guess I am just simple. I'm divorced, so I don't have a choice but to be level headed, LOL.

I think my BIL's mom is helping them keep the house, now that her son finally got a job.

 

[Swimalie]

I once heard that door to door salesmen always do better in modestly priced house areas. They usually have money. Not the expensive neighborhoods. Who knew??:

I can see that... We live in a middle income level neighborhood (2600 sq ft house which is one of the smaller ones here but the largest lot). My son', however goes to karate in a shopping center on the edge of a gated country club community. I am the only parent there that is not working. We live on 1 income and are doing okay that way. But the "gated moms" all work. I wish I lived in their neighborhood but then again, I am happier not working and able to volunteer at the school.

 

[hanutedmansionmomma]

1995

1000 sf ranch
avacado refrigerator

cost $75K!

 

[FINFAN]

bought a condo 2 months before we got married
1986
1200 sq ft
2 bed/2 bath
laundry room
1 car garage
southern exposure w/a golf course view
22% down
$82,000


God I miss that place