Should First-Time Santa Cruz Home Buyers Get a Starter Home or a Dream Home?
Posted by Lauren Spencer on
Even though you’re a first-time Santa Cruz home buyer, you may want to skip the starter home and drive straight to your dream home. Due to lower housing prices and interest rates, you may be able to afford (or at least qualify for a loan for) your dream home. But that doesn’t mean it’s the right move for you.
What is a starter home?
A starter home is a home that is less expensive than the average Santa Cruz home. It's usually less expensive because it is smaller, older or a fixer-upper.
What are the benefits of buying a starter home?
If you’re struggling to let go of your desire to own your dream home right now, consider these benefits of buying a starter home:
• It’s easier to qualify for a smaller mortgage.
• You can stop paying rent and…
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