Follow Us: Google+
 
Bankrate.com

real estate

5 major must-haves for a fab first home

A house for the next 10 years
Next
3 of 6
Back
text

Because you'll probably be there longer than you think, Shuman says it pays to buy a first home that accommodates not only the family you have now but the one you plan to have over 10 years.

"Have that conversation. If you're just getting married, ask, 'Do we plan to have kids? How many kids do we plan to have? How many bedrooms are we going to need?'" he says. "The biggest bit of advice I can give for a starter home is to really think about what your future looks like."

Shuman says because many first-time homebuyers do have growing families, space is probably a higher priority than fancy features such as granite countertops.

"Because a starter home is usually a smaller home, in today's market especially you don't want to overpay for features and amenities, or remodels, that you're not going to be able to recoup later on," he says.

Quality of space is also important, MacDonald says. While you want to have at least two bedrooms, a lot of bedrooms aren't going to be much help if they're too small to be useful.


 

 

advertisement

Show Bankrate's community sharing policy
            Connect with us
Compare Mortgage Rates
Zip code:
Product:



advertisement
Most Read
  1. Nick Nolte's house for sale
  2. 8 eerie ghost towns
  3. 5 best markets for home values
  4. What does a kitchen remodel entail?
  5. Don't sell a smelly house
  6. Headlight requirements by state
  7. 9 gas-only, fuel-efficient cars
  8. 8 affordable, classic cars for retirees
  9. 5 car models that lose value
  10. Top 10 states for foreclosure
Mortgage Overnight Averages
Product Rate +/- Last week
30 yr fixed mtg
3.60% 3.52%
15 yr fixed mtg
2.74% 2.71%
5/1 ARM
2.54% 2.57%
30 yr fixed mtg refi
3.58% 3.50%
View rates in your area:
 

Feeling lost in the mortgage wilderness?

Let Bankrate's Mortgage Analysis be your GPS. This newsletter tracks our exclusive mortgage features, rates and tools. Delivered Thursdays.
 
advertisement
At the start of the traditional buying season, housing news is mixed.
Partner Center
advertisement

Advertising Disclosure: Bankrate.com is an independent, advertising-supported comparison service. Bankrate may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website.