Starter home, the Glossary
A starter home or starter house is a house that is usually the first which a person or family can afford to purchase, often using a combination of savings and mortgage financing.[1]
Table of Contents
36 relations: Affordable housing, American Dream, Bloomberg Businessweek, City centre, Condominium, Exurb, First-time buyer, First-time home buyer grant, Homeowner association, House, Housing and Planning Act 2016, Land (economics), Land lot, License, London, Los Angeles, Metropolitan area, Missing middle housing, Mortgage, Move-up home, New York City, Owner-occupancy, Philadelphia, Property tax in the United States, Real estate, Real estate development, San Francisco, Santa Cruz Sentinel, Santa Cruz, California, Shanghai, Studio apartment, Terraced house, The Guardian, The Wall Street Journal, Urbanization, Zoning.
Affordable housing
Affordable housing is housing which is deemed affordable to those with a household income at or below the median as rated by the national government or a local government by a recognized housing affordability index.
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American Dream
The American Dream is the national ethos of the United States, that every person has the freedom and opportunity to succeed and attain a better life.
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Bloomberg Businessweek
Bloomberg Businessweek, previously known as BusinessWeek (and before that Business Week and The Business Week), is an American monthly business magazine published 12 times a year.
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City centre
A city centre is the commercial, cultural and often the historical, political, and geographic heart of a city.
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Condominium
A condominium (or condo for short) is an ownership regime in which a building (or group of buildings) is divided into multiple units that are either each separately owned, or owned in common with exclusive rights of occupation by individual owners. Starter home and condominium are house types.
See Starter home and Condominium
Exurb
An exurb (or alternately: exurban area) is an area outside the typically denser inner suburban area, at the edge of a metropolitan area, which has some economic and commuting connection to the metro area, low housing density, and growth.
First-time buyer
A first-time buyer (FTB) is a potential house buyer who has not previously purchased a residential property.
See Starter home and First-time buyer
First-time home buyer grant
A first-time home buyer grant (or first home owners grant) is a grant specifically for/targeted at those buying their first home – perhaps a starter home.
See Starter home and First-time home buyer grant
Homeowner association
A homeowner association (or homeowners' association, abbreviated HOA, sometimes referred to as a property owners' association or POA), or a homeowner community, is a private association-like entity in the United States, Canada, the Philippines and certain other countries often formed either ipso jure in a building with multiple owner-occupancies, or by a real estate developer for the purpose of marketing, managing, and selling homes and lots in a residential subdivision.
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House
A house is a single-unit residential building.
Housing and Planning Act 2016
The Housing and Planning Act 2016 (c. 22) is Act of Parliament in the United Kingdom that makes widespread changes to housing policy and the planning system.
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Land (economics)
In economics, land comprises all naturally occurring resources as well as geographic land.
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Land lot
In real estate, a Land lot or plot of land is a tract or parcel of land owned or meant to be owned by some owner(s).
License
A license (US) or licence (Commonwealth) is an official permission or permit to do, use, or own something (as well as the document of that permission or permit).
London
London is the capital and largest city of both England and the United Kingdom, with a population of in.
Los Angeles
Los Angeles, often referred to by its initials L.A., is the most populous city in the U.S. state of California.
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Metropolitan area
A metropolitan area or metro is a region consisting of a densely populated urban agglomeration and its surrounding territories which are sharing industries, commercial areas, transport network, infrastructures and housing.
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Missing middle housing
Missing middle housing refers to a lack of medium-density housing in the North American context.
See Starter home and Missing middle housing
Mortgage
A mortgage loan or simply mortgage, in civil law jurisdictions known also as a hypothec loan, is a loan used either by purchasers of real property to raise funds to buy real estate, or by existing property owners to raise funds for any purpose while putting a lien on the property being mortgaged.
Move-up home
A move-up home is a real estate term used to describe a larger and/or more expensive home that a person moves into from a smaller home.
See Starter home and Move-up home
New York City
New York, often called New York City (to distinguish it from New York State) or NYC, is the most populous city in the United States.
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Owner-occupancy
Owner-occupancy or home-ownership is a form of housing tenure in which a person, called the owner-occupier, owner-occupant, or home owner, owns the home in which they live.
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Philadelphia
Philadelphia, colloquially referred to as Philly, is the most populous city in the U.S. state of Pennsylvania and the sixth-most populous city in the nation, with a population of 1,603,797 in the 2020 census.
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Property tax in the United States
Most local governments in the United States impose a property tax, also known as a millage rate, as a principal source of revenue.
See Starter home and Property tax in the United States
Real estate
Real estate is property consisting of land and the buildings on it, along with its natural resources such as growing crops (e.g. timber), minerals or water, and wild animals; immovable property of this nature; an interest vested in this (also) an item of real property, (more generally) buildings or housing in general.
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Real estate development
Real estate development, or property development, is a business process, encompassing activities that range from the renovation and re-lease of existing buildings to the purchase of raw land and the sale of developed land or parcels to others.
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San Francisco
San Francisco, officially the City and County of San Francisco, is a commercial, financial, and cultural center in Northern California.
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Santa Cruz Sentinel
The Santa Cruz Sentinel is a daily newspaper published in Santa Cruz, California, covering Santa Cruz County, California, and owned by Media News Group, which is controlled by Alden Global Capital.
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Santa Cruz, California
Santa Cruz (Spanish for "Holy Cross") is the largest city and the county seat of Santa Cruz County, in Northern California.
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Shanghai
Shanghai is a direct-administered municipality and the most populous urban area in China.
Studio apartment
A studio apartment, or studio condo also known as a studio flat (UK), self-contained apartment (Nigeria), efficiency apartment, bed-sitter (Kenya), or bachelor apartment, is a small dwelling in which the normal functions of a number of rooms – often the living room, bedroom, and kitchen – are combined into a single room.
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Terraced house
A terrace, terraced house (UK), or townhouse (US) is a kind of medium-density housing that first started in 16th century Europe with a row of joined houses sharing side walls. Starter home and terraced house are house types.
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The Guardian
The Guardian is a British daily newspaper.
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The Wall Street Journal
The Wall Street Journal (WSJ), also referred to simply as the Journal, is an American newspaper based in New York City, with a focus on business and finance.
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Urbanization
Urbanization (or urbanisation in British English) is the population shift from rural to urban areas, the corresponding decrease in the proportion of people living in rural areas, and the ways in which societies adapt to this change.
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Zoning
In urban planning, zoning is a method in which a municipality or other tier of government divides land into "zones", each of which has a set of regulations for new development that differs from other zones.
References
[1] https://en.wikipedia.org/wiki/Starter_home
Also known as Entry level housing, Starter home (United Kingdom), Starter house.