There are millions of people who make the transition from renting to buying their own home every year. Some people start out by living in a smaller Mississauga condo and commuting into the city while others opt for a fixer-upper so that they can get more space in a better location. If you're in the market for your first home and are going through all of the listing that are available online in California all the way to Turkey then you might have come across some that describe the property as a "starter home". This could mean several things and generally describes those houses that are best for first-time buyers.
When you first meet with your local agent or real estate agent in Kingston Ontario then will start by going through all of the differences between owning your own home and renting from someone else. You might think that paying rent is a lot like paying a mortgage without giving your money to someone else without any return. But, you also need to think about things like paying property taxes and doing maintenance and repairs on the property. Starter homes are usually those that will smooth that transition in some way from going from a rental to an owned property.
One of the most common starter homes that you will see on the market today is the condo. Your mortgage broker Mississauga will tell you that one of the reasons these properties are usually preferred by first-time homebuyers is that they are generally more affordable than standalone homes in the same neighborhood. Also, you will have some of the responsibility of owning a home covered by the condo amenities. Some buildings will do all of your repairs in and out of the unit while others will just take care of some of the utilities and the common spaces. Know what you will be paying in condo fees before you make the choice of living in a condo with your Scarborough real estate agents.
If you're on the market for a single-family home then there are lots of options that could be considered starter homes. Some people like new construction because you won't have to worry about maintenance for some time. Others might want to save a little on Mississauga homes by buying a property that needs a little bit of work. But, if you're going to go with this option then you should know exactly how difficult the projects will be and what it will all cost.