Should you buy a big house in a poor location, or a small house in a nice location?
I saw this question posted in an online forum the other day and thought I’d answer it.
Though I personally favor the “small house in a nice location,” it really comes down to your needs.
Which do you need more, the bigger house or the better location?
If you find a house that will meet all of your needs, and then some, but it adds 30 minutes to your commute each way to work, only you can decide if the extra hour of driving time each way is worth it.
Or what if you find a house that’s only five minutes to work and just a short distance from where the kids go to school, but maybe it only has a one-car garage, or one less bedroom than you’d like? Does the superior location trump the fact that the house isn’t everything you hoped for?
It might be helpful just to make a list with the positives on one side and the negatives on the other, and see which house or location comes out better.
And then…don’t laugh…throw the list out and go with your heart. I’ve been in this business since 2001 and the people who go with their heart are always happier.
The people that go with their hearts can and do buy money pits, but they don’t mind spending the money so much on something they love so dearly.
And in some cases emotion and logic collide, and the house is not only the best house, but the house the buyer loves most. I call these “grenade houses,” because the only way you are going to get the people to move away is with a hand grenade.
I’d love to hear your thoughts on this, just email me at the links above or below!