Ogie Oglethorpe wrote:
Kirkwood wrote:
a starter home makes zero sense financially. you're better off renting.
The only time a starter home makes sense is if you're looking to eventually rent out your starter home and earn income from it after you upgrade to your next home.
it depends on location. renting here is more expensive than buying over the course of 3 or so years. we bought our home for 55k (we are in the quad cities) in a neighborhood where homes avged 90. spend 5 years in it, fixed it up marginally and sold it for 105k. if you buy a starter than needs some tlc and you give it the tlc it needs, then it makes a ton of sense to buy.
Agreed, it probably helps if you can do the work yourself (I wouldn't trust myself to do anything major).
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