[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"$f1hochoxn5q8gx":3,"$ffeh0925h8cuz":37,"$fbwk2pqjjqsc7":41},{"item":4,"previous":25,"next":31},{"id":5,"slug":6,"title":7,"description":8,"excerpt":9,"contentType":10,"featuredImage":11,"bannerImage":9,"body":12,"agentsBottomLine":12,"bodyImage":9,"isInfographic":13,"categories":14,"isVideo":13,"videoThumbnail":9,"videoSource":9,"publishedAt":23,"updatedAt":24},1096,"millennials-are-skipping-starter-homes-for-their-dream-homes","Millennials Are Skipping Starter Homes for Their Dream Homes","A new trend has begun to emerge. With home prices skyrocketing in the starter home category, many first-time homebuyers are skipping the traditional starter homes and moving right into their dream homes.","","blog","https:\u002F\u002Ffiles.simplifyingthemarket.com\u002Fwp-content\u002Fuploads\u002F2018\u002F05\u002F21152127\u002F20180530-Share-STM.jpg","A new trend has begun to emerge. With home prices skyrocketing in the starter home category, many first-time homebuyers are skipping the traditional starter homes and moving right into their dream homes.\u003C!--more-->\r\n\u003Ch4>\u003Cstrong>What’s a Starter Home?\u003C\u002Fstrong>\u003C\u002Fh4>\r\nAccording to the \u003Cem>National Association of Realtors \u003C\u002Fem>(NAR), simply put, a starter home is a one or two-bedroom home \u003Cem>(sometimes even a small, three bedroom).\u003C\u002Fem> “\u003Cem>Prices vary widely by market but starters on average cost $150,000 to $250,000 while trade-up and premium homes cost upwards of $300,000.”\u003C\u002Fem>\r\n\u003Ch4>\u003Cstrong>Finding Their Forever Homes Now\u003C\u002Fstrong>\u003C\u002Fh4>\r\nA recent CNBC \u003Ca href=\"https:\u002F\u002Fwww.cnbc.com\u002F2018\u002F05\u002F11\u002Fmillennials-are-skipping-starter-houses.html\">article\u003C\u002Fa> revealed that there are many factors that delayed older millennials (ages 25-35) from buying a home earlier in their lives. The aftereffects of the Great Recession teaming up with larger education costs forced many to either remain living in their parent’s homes or to rent.\r\n\r\nWith the economy continuing to improve, many millennials have been able to break into better-paying jobs which has helped spur down payment savings. As the dream of homeownership comes closer to reality, many millennials are saving for their forever homes.\r\n\r\nAccording to the latest statistics from NAR, 30% of millennials bought homes for $300,000 or more this year (up from 14% in 2013). Diane Swonk, \u003Cem>Chief Economist\u003C\u002Fem> at Grant Thornton weighed in saying, \u003Cem>\"They rented for longer. Now they're going to where they want to stay.”\u003C\u002Fem>\r\n\r\nMore and more millennials are settling down, getting married, and starting families, which is a huge factor driving them to look for larger homes.\r\n\r\nIncreased competition in the starter home market has also been a driving force in waiting to afford their dream homes. Inventory in the starter home market is down 14.2% from last year, according to \u003Ca href=\"https:\u002F\u002Fwww.trulia.com\u002Fblog\u002Ftrends\u002Finventory-q118\u002F\">research\u003C\u002Fa> from \u003Cem>Trulia\u003C\u002Fem>. This has driven prices up and has led to bidding wars.\r\n\r\nMany first-time buyers who were originally looking for starter homes are realizing that for just a little bit more of an investment, they could afford trade-up or premium homes instead.\r\n\u003Ch4>\u003Cstrong>Bottom Line\u003C\u002Fstrong>\u003C\u002Fh4>\r\n\u003Cdiv id=\"c14980\" class=\"post\">\r\n\u003Cdiv class=\"post-body\">\r\n\u003Cp class=\"post_text\">If you plan on purchasing your first home this year, let's get together to determine how much house you can afford. You may be pleasantly surprised.\u003C\u002Fp>\r\n\r\n\u003C\u002Fdiv>\r\n\u003C\u002Fdiv>",false,[15,19],{"id":16,"name":17,"slug":18},5,"For Buyers","buyers",{"id":20,"name":21,"slug":22},11,"First-Time Buyers","first-time-buyers","2018-05-30T10:00:19Z","2018-05-21T16:48:13Z",{"id":26,"slug":27,"title":28,"featuredImage":29,"publishedAt":30,"contentType":10,"isVideo":13},1095,"5-reasons-why-to-sell-this-summer","5 Reasons Why to Sell This Summer!","https:\u002F\u002Ffiles.simplifyingthemarket.com\u002Fwp-content\u002Fuploads\u002F2018\u002F05\u002F14105209\u002F20180529-Share-STM.jpg","2018-05-29T10:00:26Z",{"id":32,"slug":33,"title":34,"featuredImage":35,"publishedAt":36,"contentType":10,"isVideo":13},1097,"will-home-prices-fall-as-mortgage-rates-rise","Will Home Prices Fall as Mortgage Rates Rise?","https:\u002F\u002Ffiles.simplifyingthemarket.com\u002Fwp-content\u002Fuploads\u002F2018\u002F05\u002F30104847\u002F20180531-Share-STM.jpg","2018-05-31T10:00:00Z",{"cover":38,"open":39,"shareSpread":40},"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20260603\u002F2026-Summer-Buyers-Guide-Cover-original.png","https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20260603\u002F2026-Summer-Buyers-Guide-Spread-original.png","https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20260603\u002F2026-Summer-Buyers-Guide-Magazine-original.png",[42,46,47,51,55,59,63,64,68,72,76,80,84,88,92,96,100,104,108,112,116,120,124,128,132,136,140,144,148,152],{"id":43,"name":44,"slug":45},1,"Uncategorized","uncategorized",{"id":16,"name":17,"slug":18},{"id":48,"name":49,"slug":50},6,"For Sellers","sellers",{"id":52,"name":53,"slug":54},7,"Foreclosures","foreclosures",{"id":56,"name":57,"slug":58},8,"Infographics","infographics",{"id":60,"name":61,"slug":62},9,"Home Prices","home-prices",{"id":20,"name":21,"slug":22},{"id":65,"name":66,"slug":67},34,"Senior Market","senior-market",{"id":69,"name":70,"slug":71},35,"Mortgage Rates","mortgage-rates",{"id":73,"name":74,"slug":75},38,"Move-Up","move-up",{"id":77,"name":78,"slug":79},41,"For Sale by Owner","for-sale-by-owner",{"id":81,"name":82,"slug":83},42,"Featured","featured",{"id":85,"name":86,"slug":87},45,"New Construction","new-construction",{"id":89,"name":90,"slug":91},52,"Luxury \u002F Vacation","luxury--vacation",{"id":93,"name":94,"slug":95},53,"Rent vs. Buy","rent-vs-buy",{"id":97,"name":98,"slug":99},80,"Time-sensitive","time-sensitive",{"id":101,"name":102,"slug":103},81,"Outdated","outdated",{"id":105,"name":106,"slug":107},147,"Internal","internal",{"id":109,"name":110,"slug":111},148,"Do Not Autopost","do-not-autopost",{"id":113,"name":114,"slug":115},320,"Inventory","inventory",{"id":117,"name":118,"slug":119},321,"Agent Value","agent-value",{"id":121,"name":122,"slug":123},322,"Affordability","affordability",{"id":125,"name":126,"slug":127},323,"Buying Tips","buying-tips",{"id":129,"name":130,"slug":131},324,"Downsize","downsize",{"id":133,"name":134,"slug":135},325,"Economy","economy",{"id":137,"name":138,"slug":139},326,"Equity","equity",{"id":141,"name":142,"slug":143},327,"Forecasts","forecasts",{"id":145,"name":146,"slug":147},328,"Selling Tips","selling-tips",{"id":149,"name":150,"slug":151},339,"Expired\u002FWithdrawn\u002FCanceled","expiredwithdrawncanceled",{"id":153,"name":154,"slug":155},340,"Price It Right\u002FOverpricing","price-it-rightoverpricing"]