The "starter" idea has been applied to many different areas. Parents buy their teenager a starter car to start driving on their own, employees get a starter job to get a feel for the working world, and some couples even try a starter marriage.

So it's not surprising that many buyers enter the real estate market by purchasing a starter home. The buyer purchases a property knowing that they don't intend to stay there for the duration of the mortgage. Instead, they plan to get a sense for homeownership, build up some equity, and sell the home after a few years to move into a bigger home or one better suited for their needs.

Buying a home with a plan to move out in the near future can sometimes accomplish all of these goals. However, it can also bring unexpected expenses and other problems.

It's important to determine why you consider a property to be a starter home rather than one you'd like to keep for a longer period of time. Dana Dratch, writing for the financial site Bankrate, says some homes may be able to serve as your residence for longer than expected. If the property is only considered a starter home because it lacks the fancy amenities you'd like to see in your dream home, it can still meet your basic needs until you're ready to move.

Other scenarios give you less choice of when you'll be able to leave. If you are starting a family, a starter home can quickly become cramped if it is too small to comfortably house your children.

A starter home can also be a less sound investment if you expect to move within a few short years. You won't see as much of a profit in a sale, and you'll also be more vulnerable to negative equity if home prices dip in the market in the near future. Each new transaction will also come with added costs such as moving expenses and closing costs.

One of the most enduring benefits of buying a starter home is the likelihood of high demand in the future. Elizabeth Weintraub, writing for the financial site The Balance, says these types of homes are always attractive to buyers who want a smaller, less expensive home to purchase. They can also appeal to older buyers who are looking to downsize.

One option is to keep the home after you move and turn it into a rental property. Margaret Heidenry, writing for the National Association of Realtors, says starter homes can be popular among renters looking for more space than a basic apartment. As long as you're able to handle the responsibilities of a landlord, you can get additional income from the property each month.

Starter homes also tend to be less expensive than larger properties where you might be more comfortable settling in for several years. This can make associated costs, such as utilities and property taxes, more manageable than purchasing a larger home.

Price appreciation can occur more rapidly with starter homes. A buyer can often make a good profit on a starter home after living there for about five years. Larger dream homes can gain more value, but usually only after the homeowner has been there for many years.

However, it's better to buy a starter home to have a place to live, not for the hope of making a bundle of money on the sale. Paul Sydlansky, writing for the financial site Investopedia, says ancillary costs or changes in the housing market can easily cut into a profit and leave you with a home unsuitable for your needs. He suggests that it is better to save up for a few years to find a home you'll be able to live in for a long time.

You should also be careful about setting too high a price limit for a starter home. Weintraub says buyers may start out with the idea of getting a starter home, but purchase a more expensive one after becoming enamored with a particular property. Buying a more expensive home can also ramp up other costs, such as utilities.

Be flexible when it comes to choosing a starter home. If the property doesn't have all of the amenities you want, see if you might be able to renovate the home to include them. This can allow you to move into a starter home and turn it into your dream home over time.