When moving to a new place, people are often torn between choosing the perfect house or the perfect location – as many a time the house that is right for the family is located in a less-than-ideal neighborhood and the homes in the ideal neighborhood are not the right fit for the family.
Which one to choose then – house or location? If you’re moving because you found your dream home (and its location is working for you) or because you have a specific reason to live in a certain area (school districts, proximity to someone or something, etc.), then the answer will be clear. In all other cases, however, the “location or house” dilemma will be quite a problem.
Both factors are very important, so making the right decision won’t be easy – you need to assess your lifestyle, your needs (not only present, but future too), your preferences, your intentions, your financial situation, and many other relevant factors in order to make the best choice for you and your family.
Here are some tactical considerations to help you solve the conundrum.
When location is more important
The location of a home (how far it is from important places and people and what’s available in the area) is of paramount importance because it affects all aspects of one’s life outside of the home itself – commutes, social activities, recreational activities, etc. And it is the only thing about a property that can’t be changed.
If you buy a house and there’s something that you don’t like about it, you can remodel the home, expand it, renovate it, upgrade it, or change it in any way you like – you could even knock it down and rebuild it from scratch. No matter what you do, however, the location of your property will remain the same.
Therefore, it does make sense to choose a home to buy based on its location – especially considering that there are many cases when the location of a house is much more important than the house itself:
1. You plan to eventually sell the property
If you purchase a house in a good neighborhood, the resale value of your home will always be high. If the location is highly desirable, it will hold up the value of the properties, even if the market takes a downward turn – and the return will be really high if the market rises.
Sought after areas, however, are always expensive – so, in order to afford buying in a desirable location, you may have to make a trade-off on the home itself.
2. You don’t intend to stay in that home forever
If you only need to live in a certain place for a few years, but prefer not to rent, you know that the property you’re going to buy won’t be your forever home – so it doesn’t need to be perfect, it needs to be convenient.
And that usually means convenient location – even if the available properties are not ideally suited to your preferences.
3. You have children
If you have kids (whether they’re school-age or still toddlers), you will, of course, want to give them quality education – so you’ll want to live in a good school district.
School boundaries will be of primary concern, so you may choose to buy a less-than-perfect house as long as it is located at the right address.
4. You want a short commute
If you’re sick and tired of spending hours on the road every day, you’ll want to move closer to work. You may not be able to find a conveniently located home that matches all your preferences, but you’ll have more free time for yourself, your family, and your friends and will experience less stress – so the trade-off will be worth it.
5. You need access to specific amenities – or want to have various amenities within easy reach
From specialized medical facilities to specialized educational institutions, you may need certain amenities – and in such cases, it will only make sense to purchase a home located near these amenities, even if the property isn’t perfect.
Or, you may simply want to have easy access to services, stores, restaurants, recreational facilities, entertainment locales, parks, etc., so you don’t need to drive for miles to get to wherever you need/want to go – in this case, too, the location of your future home will be more important than the home itself.
6. You know where you’ll be happy
You may be dreaming of a peaceful and quiet life in a green suburban area; or wishing for an active, vibrant lifestyle in the very center of the big city; or looking for a like-minded community (ethnic, religious, political, intellectual, artistic, etc.); or craving to practice specific activities only available in a specific area – if so, you’ll put an emphasis on the location of your property, not on the property itself.
The crime rates in different areas of a city, the available transportation options, the specific characteristics of the neighborhoods, and the various aspects of the community life will also affect your choice of a new home. (See also: How to choose a good neighborhood to move to)
As important as location may be though, it is the home that your life will be centered in – it needs to be the right fit for you.
When the home is more important than where it is located
According to a recent U.S. Census Bureau study, about half of the people who move house do so because their old home no longer suits their needs and/or preferences. (See also: Why do people move)
So, when moving to a new home in your current city, the exact location of your new property may not be as important as the house itself if:
1. You need more space
Should you move to a bigger house or better location? The size of your new home will be your primary criterion if:
- You need more room (and more rooms) to accommodate your growing family ;
- You need more storage space for your items;
- You need extra room so you can work from home, practice your hobbies, etc.
In all these cases you will be looking for a larger house you can afford, even if it means moving to the suburbs or to a less desirable area. (See also: Should you move to the suburbs)
2. You don’t need so much space
If you want to downsize – because your grown up-kids have moved away and your large home feels too empty; because you can no longer afford the big expenses for your big house; because you wish for a simpler lifestyle; etc. – you’ll be looking for a smaller home. It will be the size of the property that will matter to you, not its location.
3. You need outdoor space
You may need a large play area for your children (and your dog), may want to grow vegetables or throw barbecues in the backyard, may wish to have a summer kitchen, a workshop, or a backyard pool, etc. In these cases, you will want to buy a house with a large outdoor space – regardless of where exactly it is located.
4. You’re looking for a specific layout
It isn’t just the square footage of a home that matters. You may need a certain number of bedrooms and bathrooms; you may want a basement and an attic; you may need quiet space for a home office; you may want an open layout for large gatherings; etc. – in such instances, the design and layout of your new home will be much more important than its location.
The quality of the construction, the age of the house, and the available features should also be taken into account when choosing a property to buy. (See also: How to find the right new home for you and your family)
So, perfect house or perfect location? It will best if you can buy the perfect house in the perfect location, of course, but if you can’t, then you will have to think about what is more important to you. Consider your needs and wants and decide whether you will be happier in a great home that is located in a not-so-great place or in a not-so-great home that is located in a great place. Either way, good luck with your move and your new life!
