Starter Home


  • A relatively small and inexpensive property that is typically bought by first time home buyers. This type of property is usually traded up for a more expensive property once the home owner has gained equity in the property.

upper, affordable dwelling, fixer, cheap, adequate, first home

Related Terms and Acronyms

  • Custom Home Definition,
    • A house built according to plans from an architect hired by the owner.
  • First Mortgage Definition, Important,
    • A mortgage that is the primary lien against a property.
  • Investment Property Definition,
    • Property bought with the hope of it making money.
  • Move-up Buyer Definition,
    • One who is selling a house to buy a more expensive house.
  • Pre-sold Home Definition,
    • A house that is sold prior to construction as opposed to a house built on spec.
  • Production Home Definition,
    • Homes that are mass produced as part of housing developments.
  • Semi-custom Home Definition,
    • A house in which the buyer cannot alter the layout, but can specify amenities such as type of cabinets and floor coverings.
  • Speculation Builder Definition,
    • A developer that builds houses without a commitment from a purchaser.
  • Speculation Home Definition,
    • A house built before a buyer has been found, on the assumption that one will be found.
  • Trading Down Definition,
    • Selling a more-expensive house to buy a less-expensive dwelling.
  • Trading Up Definition,
    • Selling a house to buy a more-expensive house.
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