Starter homes are no longer simply small, affordable first homes. Instead, they have become a homeownership entry point, which could mean a condo, townhome, or even an Airbnb.
First-time buyers and younger buyers who struggle with higher-priced properties and higher interest rates are becoming more likely to buy duplexes, condos, or townhomes. “I always counsel, ‘Buy the house you can afford today.’ That may mean taking on a house they previously wouldn’t have been willing to consider,” he said.
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