Source: Ronda Kaysen of the New York Times
Imagine yourself a couple years into a solid career. With a few dollars saved up and a strong sense of belonging in your city, you decide it’s time to become a homeowner. Many of you reading are likely in this exact situation; with your dream home, a few kids, and several pay raises away, you’re looking for a starter home. Fit for your current lifestyle, this is a home where you plan to live for 5-10 years before moving into something “better.” It’s a reasonable plan, and even likely what your parents did.
However, this plan may not work out quiet the way you envision. With a rising interest rates, limited properties for sale, and rising sale prices, Americans are staying in their starter homes for longer. Are you are in the market for your first home? Are you trying to decide between a move or a renovation? Check out the full article to get versed in this trend.