starter home

noun

1. a compact flat or house marketed by price and size specifications to suit the requirements of first-time home buyers

Example Sentences

In early 2020, those first-time King County buyers were already earning only 59% of the income needed for a starter home in the county, according to the center’s affordability index.

From Seattle Times

To put that in day-to-day terms, even in formerly affordable parts of Seattle, such as Rainier Valley, a starter home is going to be $700,000, said Sally Li, a broker with Pellego.

From Seattle Times

In Bremerton, the typical first-time buyer now earns just 48% of the income necessary to afford a starter home, down from 76% just three years ago, according to UW’s affordability index.

From Seattle Times

The research also showed that terraced homes made up 30% of new mortgages for first-time buyers, although flats have been increasing in popularity as a cheaper starter home option.

From BBC

With L.A.’s strong rental market and a new federal law that allows lenders to count income from ADUs when underwriting mortgages, Mason said he hopes they can take advantage of the new policy when they move from their starter home.

From Los Angeles Times