Have You Outgrown Your Starter Home

Dated: 08/14/2018

Views: 63

 

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

If You Are Thinking Of Selling You Must Act NOW

 If You Are Thinking of Selling? You Must Act NOW!If you thought about selling your house this year, now more than ever may be the time to do it! The inventory of homes for sale is well 

Read More

4 Reasons Why Fall Is A Great Time To Buy A Home

 4 Reasons Why Fall Is A Great Time to Buy A Home!Here are four great reasons to consider buying a home today instead of waiting.1. Prices Will Continue to RiseCoreLogic’s latest 

Read More

3 Myths About Todays Real Estate Market

 Top 3 Myths About Today’s Real Estate MarketThere are many conflicting headlines when it comes to describing today’s real estate market. Some are making comparisons to the market we

Read More

The Cost Of Waiting To Buy A Home

 The Cost of Waiting: Interest Rates Edition Some Highlights: Interest rates are projected to increase steadily heading into 2019. The higher your interest rate, the more money you

Read More