I need help. What exactly is a starter house? The answer to this question determines our target buyer and influences our price floor.
Claire wrote a post awhile back about the starter house but none of those situations really apply to us. We didn't scrimp and save to buy this house. We had a list of "deal breakers" and "must haves" but what buyer - seasoned or new - doesn't?
Our first house felt like a starter house because we were kinda desperate to Own a House. Our second, and current, house is in a better, close-in, neighborhood, which means less house for the same amount of money we paid in the 'burbs. So...maybe this house is an upgrade for us?
Around here the "average 3 bedroom house" costs between 250k - 600k and our house will be priced within this range when we sell, but I don't consider these prices to be "starter prices" because the average buyer or, say a young family, can't afford to buy at these prices. So, I guess my real question is whether rising housing costs have killed the starter house market or are there certain homes that still fall within the "starter house" category?