Have You Outgrown Your Starter Home

Dated: 08/14/2018

Views: 0

 

Have You Outgrown Your Starter Home?

Have You Outgrown Your Starter Home? | MyKCM

For many Americans, buying their first home is their first taste of achieving part of the American Dream. There is a sense of pride that comes along with owning your own home and building your family’s wealth through your monthly mortgage payment.

It may seem hard to imagine that the first home you purchased (which made your dreams come true) might not be the home that will allow you to achieve the rest of your dreams. The good news is that it’s ok to admit that your home no longer fits your needs!

According to CoreLogic’s latest Home Price Index, prices in the starter home market have appreciated faster than any other category over the last year, at 9.4%. At the same time, inventory in this category has dropped 14.2%.

Have You Outgrown Your Starter Home? | MyKCM

These two stats are directly related to one another. As inventory has decreased and demand has increased, prices have been driven up.

This is great news if you own a starter home and are looking to move up to a larger home as the equity in your home has risen as prices have gone up. Even better is the fact that there is a large pool of buyers out there searching for your starter home to help them achieve their American Dream!

Bottom Line

If you have outgrown your starter home, contact a local real estate professional who can explain the market conditions in your area and help you find your next home!


Blog author image

Larry Gilman

I've been involved in the Real Estate business since 1994 and have helped over 1,200 families buy or sell a home, some I've done two and three times. I specialize in creative financing, home marketing....

Want to Advertise on this Site?

Latest Blog Posts

Have You Outgrown Your Starter Home

 Have You Outgrown Your Starter Home?For many Americans, buying their first home is their first taste of achieving part of the American Dream. There is a sense of pride that comes along with

Read More

Home Maintenance 5 Quick Exterior Fixes By Rachael Baihn Aug 7 2018

It can be easy for the exterior of your home to look a bit worn after just a few years. Maintenance tasks that need to be taken care of get put off due to time constraints, and the fact that you don

Read More

You Need An Agent Who Will Always Put You First

 You Need an Agent Who Will Always Put You FirstWhether you are a rookie homebuyer or have gone through the process many times, having a local real estate expert who is well versed in

Read More

Americans Rank Real Estate As The Best Investment For 5 Years Running

 Americans Rank Real Estate Best Investment for 5 Years Running! Some Highlights: Real estate has outranked stocks/mutual funds, gold, savings accounts/CDs, and bonds as the best long

Read More