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Thread: Starter homes

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    Starter homes

    What is the price of a "starter home" where you live?

    In Western Alaska, $200,000 is about as cheap as it gets for a small two bedroom house. The $200,000 house would not have a garage, and would be on a small gravel pad.


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    Re: Starter homes

    160-185k in Ankeny. That will get you 3 bedrooms, a 2 car garage, and about 1600 sq feet.


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    Re: Starter homes

    quick check on one site brings up a couple in the $190,000 - $230,000 range ... but largely $289,000 and up up up up...

    aka I probally won't be buying one any time soon


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    Re: Starter homes

    We paid 127K in 2004 for a 3 bedroom in Clive. We have an attached garage and a huge backyard. The house is pretty nice (small though) and we are pretty close to 235, easy to get East or West depending on where you work.



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    Re: Starter homes

    I'm looking at building a 3-bedroom, 2-bath, 2 car garage, somewhere in the 1400 sf range, and I'm thinking it'll be about $130K by the time all is said and done. That's with the basement unfinished though.



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    Re: Starter homes

    Newton Iowa has all sorts of "starter homes" on or about the $40,000 - $60,000 range. They all need various forms of "fixin'", plus they're in Newton....


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    Re: Starter homes

    "starter home" is very broad. If you're talking about a new home, 2 car garage, 1,600 sqf, and 3 bedrooms you'll spend at least 200K.



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    Re: Starter homes

    Quote Originally Posted by dornstar44 View Post
    I'm looking at building a 3-bedroom, 2-bath, 2 car garage, somewhere in the 1400 sf range, and I'm thinking it'll be about $130K by the time all is said and done. That's with the basement unfinished though.
    I haven't looked recently at all, it was a couple years ago, but I find this number to be right for my area. The bid we got was like $120, which had us doing several things ourself like painting, wood work etc.



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    Re: Starter homes

    I just closed on a new condo down town Minneapolis. 950 sq. ft. w/ balcony.

    213K...welcome to the city.



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    Re: Starter homes

    Quote Originally Posted by ultracreative View Post
    I just closed on a new condo down town Minneapolis. 950 sq. ft. w/ balcony.

    213K...welcome to the city.
    I thought Minneapolis was having a housing collapse?



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    Re: Starter homes

    My first house purchase was a duplex in the early 90's. It's been a great investment and when I bought it the other sides rent paid for the mortage payments. I moved out 5 years later and have rented both sides since then. Being a land lord does have it's headaches, but it's been worth it for me.



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    Re: Starter homes

    Are "starter homes" a relative new term and part of the housing problem? I only ask because both my parents and in-laws still live in the first home they bought - over 25 years each. Most of my buddies that have purchased are already on their second home if not third and I wouldn't accuse them of being in good fiscal shape - most have been trying to climb the housing ladder and that bubble is starting to leak.



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    Re: Starter homes

    Starter home definately seems to be a loose term. I wouldn't think of 1600 sq feet as a starter home because I don't need near that much space... In Beaverdale you can get a decent 2 bedroom, 1 Bath, 1 car garage between 115,000 and 125,000. A decent 3 Bedroom, 1.5 bath for 119,000-140,000.



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    Re: Starter homes

    Quote Originally Posted by brianhos View Post
    160-185k in Ankeny. That will get you 3 bedrooms, a 2 car garage, and about 1600 sq feet.
    jeesh ... what kind of "starter" purchaser is spending close to 200K?

    I make decent coin, but my first house was $110 K. I think a lot of FTHB's are in in the 70-110 range. They can be found in the CR area, but you're not getting 1600 sq ft and a 2 car garage.

    Anywhere in the state of Iowa outside of CR/IC, DMS/Ames or the Quad citys will have first time homes in the 40-80K ranges.



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    Re: Starter homes

    Quote Originally Posted by clones_jer View Post
    jeesh ... what kind of "starter" purchaser is spending close to 200K?

    I make decent coin, but my first house was $110 K. I think a lot of FTHB's are in in the 70-110 range. They can be found in the CR area, but you're not getting 1600 sq ft and a 2 car garage.

    Anywhere in the state of Iowa outside of CR/IC, DMS/Ames or the Quad citys will have first time homes in the 40-80K ranges.
    There certainly won't be many FTHB buying houses around 200k anymore. There are very few zero down loans available anymore so it will be VERY hard for someone right out of college to save the 40k needed for a down payment. Thats another reason why the 'starter homes' are becoming some of the hardest to sell...



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