Ignite FB Tracking PixelWhat Should You Look for in Your First Home? - Marsha Bell

What Should You Look for in Your First Home?

by Marsha Bell 11/07/2018

The concept of a starter home is an American tradition that has existed for decades. Buying a starter home makes it possible to achieve homeownership, financial independence, and to build equity and credit while you transition to a larger home.

However, your first home doesn’t need to be a tiny, one-bedroom house with none of the amenities that you want.

In today’s post, we’re going to look at some of the things that are desirable in a first home or starter home, so that you can make the best financial decision now that will help you save more in the long run.

Top things to look for in your first home

1. Resale value

Perhaps the most important thing to think about when buying your first home is the day that you eventually decide to sell it and upgrade. There’s a lot that goes into the purchase value of a home. But, if you maintain the home or even make some upgrades, there’s a good chance you’ll be able to sell it for more than you paid.

Other factors that affect resale value are the location and real estate market trends. While you may not be able to change the economy, you can choose to buy a home that is in a location others will find desirable in the coming years.

2. Size

The cost of your first home will be determined by its location, as mentioned before, but another huge factor will be the size or square-footage of the home and yard.

If you don’t plan on having children in the next few years and don’t currently have kids at home, having several bedrooms and a large backyard probably aren’t huge priorities. This means you’ll be able to save by buying a small home on a small property.

Similarly, if it’s just you and a significant other living in the home, you may be comfortable with just one bathroom for the next few years. These omissions can save you a ton of money on your first starter home.

3. Transportation and proximity

Typically, when people buy their first home they are just getting settled into their career and may still change jobs a few times. Most workers in today’s economy change jobs between 10 and 15 times throughout their career and do so more often toward the beginning.

This means it will make sense for you to buy your first home within commuting distances to companies in your industry.

4. DIY and fixer-uppers

Homes that are in need of repairs or renovations can be a great way to save money and see a return on your investment when you decide to sell. Of course, there are limits to how many repairs are reasonable while still getting your money’s worth from a home.

You’ll know from your home inspection or by doing a walk-through with professional contractors how much work is required to bring the home up to standards. Use those resources to ensure that you’re making a sound financial decision for your first home.

About the Author

Author
Marsha Bell

Real Estate is a relationship business. Although we negotiate and market homes, we are in the business of helping people through transitions in their lives (getting married, having babies, empty nesting, investing for family reasons) and for someone to invite us into that process is an honor and requires trust in us and our skill set.

I have been a resident of Marin for over 35 years. I raised my family, devoted time to volunteering at my children’s schools, kept an eye on local politics as they affected education and the quality of life in the region, and acquired an understanding of the cities and neighborhoods of the county.

I honed my skills as an event manager, through 18 years producing an annual gala raising funds for Okizu, which provides a camp for kids with cancer and their families. Overseeing details too numerous to count, my efforts raised over six million dollars with elaborate and creatively themed events. My real estate clients can be certain I will provide the same creativity and attention to detail on their behalf. My organization skills and sensitivity were also needed while serving as the project manager for the state of CA in a pilot program connecting low-income youth to pathways to jobs in the energy industry. Through my own efforts to downsize as my children left the nest, I can be a great help to others hoping to do the same – assisting them not only in finding a new home, but also with the difficult task of shrinking the volume of their possessions – all accomplished with a sympathetic understanding of the emotional aspect of this change. I also hold an SRES designation, taking this a step further with the needs and concerns of seniors.

Whether you’re looking to buy or sell in the Bay Area, I will assist you with every phase of the process. I listen and focus on what my client’s real estate needs are and make certain I exceed their expectations. I have a passion for my real estate career and I love what I do. My success is because of determination, focus and attention to details.

Authenticity, passion, professionalism — these three things show our humanity and build trust.

I look forward to assisting you through your transitions.

 

TESTIMONIALS

We enjoyed working with Marsha on the purchase of our house in Fairfax. Responsive to all our questions and fast moving pace of our purchase, Marsha was great.

laurafayev 

 

I can write a story about how amazing Marsha is. She made the process of selling our condo and purchasing our home so smooth. It is one of the most stressful things we've done. But with her patience, knowledge and overall outgoing personality got us through it. I would definitely use her again.

robb bwi 

 

Marsha was more than generous in sharing her time and knowledge with my son and I as he searched for an apartment to rent in the difficult San Francisco market. She researched his needs thoroughly and was able to show us every possible type of apartment in his price range. Her extensive knowledge of the city and the various locations have eased his transition from Boston. Her friendly demeanor and great sense of humor as well as punctuality and easy accessibility made our experience a very pleasant one. I have no hesitation in recommending her highly for any real estate need!

Debra S. 

 

Marsha showed me around several neighborhoods in San Francisco and set up nearly a dozen appointments for apartment showings. It was my first time in the city and I was pretty daunted by the process of apartment hunting. Marsha picked me up at my hotel each day and spent hours driving me around the city, making things much simpler for me. I was impressed with how organized she was--each day we had a meticulously crafted itinerary. In the end, she was instrumental in me finding my dream apartment in a great neighborhood. I cannot recommend Marsha highly enough.

James R. 

 

People say that selling a home can be one of the most stressful things you can do, but thanks to Marsha I was informed, organized and on schedule for the whole process. As a result, I got my dream offer with the first open house. Having Marsha as your realtor will save you hours of stress and get you a great result.

Heidi U. 

 

Marsha was very attentive to all the details of the selling process. She was very professional and personable at the same time. I highly recommend her if you are thinking of selling or buying a house.

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