If Only This House Was In That Location

If Only This House Was In That Location

I can’t count the number of times I’ve heard buyers say, “If only this house was in a different location, it would be perfect!“ If you’ve felt this way, you’re not alone.

Buyers often start their search in the area they find most desirable, and many are surprised how little they get for their money. It's no coincidence that houses in highly desirable areas are expensive. Sought-after locations tend to offer good schools and close proximity to transportation, employers, and amenities like stores, gyms, restaurants, and parks. The large number of buyers who want to live in these locations drives prices up.

Confronted with high prices in their preferred location, many buyers begin to explore other areas where housing prices are lower, typically further from work, in a different school district, or less convenient to other amenities. Some buyers choose one of these locations, if it means they can buy a larger or more updated home. Others place more value on a shorter commute, better schools, or proximity to shops and restaurants, even though it means buying a smaller home or one that needs updating.

Choosing between location and a nicer home can be difficult. If you decide that a highly desirable location is most important to you, then it’s a good idea to stop looking in other areas where you get more for your money. Otherwise, you may never be happy with the choices available in the place you really want to be.

Read more of Annette’s real estate articles for the latest real estate advice. What real estate topics would you like to see covered? Send your ideas to annette@preferredhomes.com

If you’re planning to buy or sell a home, contact Annette Nelson at (610) 247-7892 or annette@preferredhomes.com

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