Most home buyers start with a long list of desired features when they start their search. At the top of every list is both the desired location and the desired size. In an ideal situation, a homeowner would find both in the right price range too. Most of the time with home buying a sacrifice or two is made. But what if it come down to location or size? Which one is more important? Obviously the answer will depend on the homebuyers. Here are a few things to consider when sorting through the choice:
If you are a young family just starting out and haven’t decided yet how many kids or if you are done having kids, then size is a big consideration. The Tiny House movement looks great on television but smaller spaces can be tough on large families. Perhaps you have same-sex siblings close enough in age that the thought of shared bedrooms is more of a perk than a deterrent. Or maybe you have older kids leaving the nest soon and the smaller space would be better in the long run.
Is your goal to have close neighbors for the kids and community activities? And don’t forget schools! School zoning is an enormous consideration for most parents when picking a home. However, if you plan to utilize private schools or homeschool then location could be much more flexible. For those heading toward retirement, location factors could include walkability and convenience to amenities.
Let’s say you find the perfect house in terms of size, style and layout but it’s in a terrible neighborhood. If the area has a history of high crime, chances are it’s not worth taking the risk. However, there are many neighborhoods in Nashville that are up-and-coming neighborhoods. That means the crime rates are declining and more retailers and businesses are moving into the area. In this case, the size could definitely be worth it!
Location is a huge consideration if your move is temporary or if you think you would move again within a five year plan. In those situations it would be better to choose a location with a strong history of high resale values and get creative with a smaller space while living there. If you plan to stay longer then you can feel more comfortable with the transitional neighborhoods and the promise of increasing home values over time.
The bottom line is there is no right or wrong choice between location or size. It’s a matter of personal preferences and long-term goals, but these considerations can help homebuyers choose wisely. If you’d like to talk to a real estate agent about available homes in the Nashville area, call DeSelms Real Estate today at 615.550.5565!