The notion of a starter home is a thing of the past, according to first-time buyers surveyed as part of the National Association of Realtors Profile of Home Buyers and Sellers. Rather, these buyers say they plan to stay in their first home for 10 years, on average.
Knowing that first-time buyers are looking to live in their first homes longer, builders need to contemplate the uses of a home that may start as a bachelor pad or newlywed nest, but may need to accommodate 2 or 3 kids within those 10 years.
J. Lawrence Homes is offering several plans designed with the first-time buyer – but long-term flexibility – in mind.
Check out the Bayberry plan at Silver Leaf in Joliet. The open floor plan is great for entertaining now, and keeping an eye on the kids down the road. And a first-time buyer price starting at $179,900.
Or the Pinehurst plan at Midlane Country Club in Wadsworth – 4 bedrooms, 2.5 baths, 2000 square feet starting in the low $200s. No formal dining room – but more space allocated to the kitchen and family room.
Remington Landings in North Aurora also offers homes from the low- to mid-200s, with 2 to 4 bedrooms, 2 to 2.5 baths, and 2- to 3-car garages. All in an established suburb near shopping, dining, parks, I-88 and two metra stations.
J. Lawrence says that the first-time buyers they are seeing are very knowledgeable, they’ve done their research, tracked the market, and know that with competitive pricing and low interest rates, they can afford to buy a little larger and stay longer.