Are you thinking of buying a home? Good for you!
The whole process of picking and purchasing a house is such an exciting time. However, once you start looking for homes, you will notice that there are some things you will have to give up. No house will ever be perfect and have everything you want – but one can indeed come close. For that to happen, you need your list of priorities, things you are focusing on, and that you don’t want to give up. And location vs. size is a frequent concern when it comes to buyers’ priorities. To help you with that, we have prepared a deep dive into the topic.
The question is: Location vs. Size
When purchasing a home, the two most important factors to consider are the house itself and its location. Which is more significant? When such confusions arise, you must think about what is essential to you. You could gold and locate the perfect property in your ideal neighborhood, but most homebuyers are faced with a difficult decision.
It is ultimately your verdict. However, there are also some things to think about before you start packing and looking for long-distance movers to make your move across Illinois into an easy and stress-free relocation. Let us look at the different aspects of each factor to assist you with your choice.
The importance of the location of your home
One of the main things you will be concerned with when looking for a home is where it’s located. A good neighborhood and a close vicinity to the amenities you need can be a huge plus in your everyday life. In addition, the location of your home is the one aspect of a property that you cannot alter. You can always remodel your house, build onto it, shape it to your taste, or even tear it down and build a new one. But the location you choose still stays the same, making it of great significance.
Work and school commute
As we mentioned, living close to your work and your children’s schools is one of the top factors when choosing your home for its location. It substantially cuts down your commute time. We might not even realize it, but commuting takes a lot out of our day. According to a survey done by Valvoline.com, the average American spends in total 19 full workdays a year — driving to work in their cars. Why need to use that time for something better, like a quick morning workout or even an extra 30 minutes in bed?
Schools in the area
When you have children or plan to have them in the future, you want them to have the best education possible. Even if you cannot afford a private school, there are excellent public schools; you just need to be in the right area code. That’s where the location vs. size dilemma leans over to the location. If top-rated public or private schools are a priority for you, make sure to tell your agent before you start looking for a home.
Local amenities
Local amenities have a direct influence on the area’s real estate pricing. Supermarkets, restaurants, shopping centers, and entertainment are some of the most sought-after features when purchasing a property. These facilities should be within a 5- to 10-minute drive for buyers. If the house you’re purchasing is within a few miles of most of these amenities, it will assist in increasing the value of your property.
Your plans to sell or rent out
We like to think that the house we buy is going to be our forever home. However, life happens in the meantime, and plans change. There might come a time when you will need to decide whether to hold, sell or exchange your property. And, if that property has a great location, you can count on its resale value only going up. Buying a conveniently located home is an excellent investment for the future.
The importance of the size of your home
Real estate agents often emphasize the importance of your home’s location. However, there are certain cases where you should focus on other things, such as when you have plans to start a family or when looking for garden space and other commodities. Let’s have a look at the factors that rely on the size of your home.
The size of your family
It makes more sense to prioritize size above location if you have a large family or future plans for one. You understand your family’s requirements and realize that you can’t all fit into a small home. You already have a good idea of how many things you have and how much space you’ll need for it. If you want to have a large family in the future, don’t wait – it’s better to choose a size now so you can accommodate everyone without having to move.
The amount of stuff you own
If you are someone who is used to living in a big home or owns a lot of furniture, moving to a small central apartment might be a considerable change. Of course, the things you own are not permanent and do not define you. You can always sell or donate anything you don’t need. However, one advantage of choosing a large house is that it allows you to keep all of your valuables. Your grandma’s piano will stay in the living room instead of a storage room far away.
Outdoor space
If you want to build a fire pit, set up a BBQ station and a bar in your backyard, in addition to a playground for the kids, then you will probably need to focus on finding a spacious home with plenty of space. In this case, location probably won’t be of great value. Luxury residential brokers like us at Miller Chicago can assist you in finding a home with all the amenities you could need.
Final thoughts
In the location vs. size battle, we have seen many good points that go in favor of each. However, the ultimate decision comes down to you, with your needs, wants, and priorities. We hope our guide will help you with making the right choice. Good luck!
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