Looking for an Affordable Starter Home? Here Are 5 Homes You Can Buy Right Now for Under $400K

With the rising cost of homes and mortgage rates hovering near 7.5% this week for a 30-year fixed mortgage, according to Freddie Mac, purchasing a property can be a challenging feat for a first-time homebuyer.Finding a starter home, known for its smaller floor plan and more affordable price tag, has become increasingly difficult in many cities.Still, options exist. The Midwest offers some of the most budget-friendly abodes in the nation, while states like Massachusetts are looking to expand the supply, with a question on the midterm ballot that would legalize smaller lots for starter homes.From North Carolina to Colorado, we found five affordable starter homes available for as little as $289,900.1. 1160 Harland St, Charlotte, NCPrice: $359,000Seller incentive: This newer three-bedroom home, nestled in the Belterra neighborhood, is being offered with seller financing.Built in 2023, the 1,725-square-foot, energy-efficient residence features a sun-soaked open-concept layout. The modern kitchen has a breakfast bar, stainless steel appliances, and a dining area that opens up to a back patio. Other highlights include a primary suite with a walk-in closet, a "versatile loft," and an attac...