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location vs. house
So, there are 2 houses in the area we want to move that are really interesting to us. They are the same price. The one in the lesser location is right across from a school (but it is NOT on the side where drop off/pick up happens and this is not the school our kids would go to). Other than the location the house itself is amazing. Nice finishes, 4 bed/3 bath and a huge kitchen, fits all of our stuff with space to spare. The other house is about a mile away and sits on a nice street so nothing bad about the location but nothing spectacular either. This house, however, is smaller. It has about 500 sq ft less and is only 3 bed/2.5 bath. We might have to compromise on fitting some of our furniture in. Also, the smaller house is walking distance to an area that is supposed to be developed into small shops and coffee houses, etc, which would dramatically increase the value of it IF the development every happens (it?s already been put off for 5 years!)
So, my question is, would you sacrifice the location for more square footage or sacrifice square footage for a better location? I know the old saying is location location location, but I just love the other house so much. What would you do? Thanks!
Re: location vs. house
I was told that being near a school adds to the value, and the extra square footage will make all the difference in your comfort. A couple things to consider would be what time you leave for work, or what time you are at home and how that will fit with the school schedule. If you leave for work around the same time as when school starts, then you need to be prepared for traffic. Also, if there is a school event, there will be traffic. If you stay at home during the day, you will hear kids playing, bells, etc, which may or may not bother you. You definitely need to go with what you prefer, but you're right, location is key. You can always fix the house, you can't change the location.
One other thing is that you aren't sure what they are building over at the other house. They may actually build a shopping center, or they may not have the money and you could end up with an empty lot, which will bring trouble (kids smoking and doing drugs, etc). We had an emty lot next to our apartment complex that some teens used to hang out and smoke at, and they ended up starting a fire. The other possibility is that something could be built there that could lower the value of the house (apartments, loud mechanic shops, etc). So if you are not in love with the house or willing to take the chance, I would go with the other one.
We gave up A LOT for location. To get a house where we wanted it - neighborhood, school district, etc. - we bought a bank owned home in terrible shape. We've spent three years fixing it up, a bit at a time and now we're getting ready to break ground on the major part of the renovation (finally!).
A major PITA if you ask me. But when I see how my kids have succeeded in this school system, and I think about the amazing neighborhood we're in, with great friends and lots of activities, and I look at our architectural plans and imagine the kitchen and master bath and exercise room when they're done, I realize it'll eventually be worth everything we've had to put into it. But it was a LONG road getting here!
I grew up across the street from an elementary school (that was built when I was in grade 1, and me and my brother both went there), and I know my parents hated it. There were always cars...from 6:30 in the morning when janitors etc start showing up, to about 6PM when the last of the teachers leave...if theres no sports or other events on..then its later. It was really hard getting in and out of our driveway for most of the day every weekday.
It also stressed my mom because there were always highschool kids who hung out behind the school, and she felt like she had to be vigilant, in case something happened (which it did often, between fights, drunk teenagers and someone lighting the school on fire...she was often the one watching to see if she needed to call 911).
For these reasons, I would NEVER buy across from a school...even if it was my dream house! Especially if your kids are not going to that school..it means you will have to fight the schools traffic to take your own kids to and from school.
My Blog:Through My Eyes
Yea living next to a school was a deal breaker for my husband and I as he is a teacher and knows how much traffic, noise, headache a school can be. It also depends on what kind of school it is (elementary, middle, high) and the district. If you are honestly thinking of the house definitely make sure you scope out the area in the morning and near dismissal. The school my husband works for (middles school) doesn't have buses and all the kids walk or get driven to school so traffic in the morning is horrible and then in the afternoon the kids get told not to hang out on school property so they all just cross the street and hang out in the yards of the houses across the street from the school. His parents live in a neighborhood that boards the high school and the kids all use the neighborhood as a cut through, speeding through, driving on yards and just sort of hanging out in the neighborhood. So yea we would never even think of living near a school, even elementary due to the traffic, noise, sporting events and number of kids just hanging out trampling your yard.
I would go for location, because everything else you could change, a school you cannot
I would not live across from a school. I like my privacy, and having a public area that close to my home would bother me. I also wouldn't buy a house that was too small from the get-go. I tend to accumulate stuff over time, so going into a house that was too small on move-in day would only lead to unhappiness for me. So I'd keep shopping.
Note: I was a very choosy buyer, and spent 18 long months in the market in order to get the house that was "just right". I'm not normal. LOL
Location, location, location. You can change the house to make it more yours, but you can't change location.
Before DH and I were married we each owned houses we bought at about the same time for about the same price, but in very different locations. My house was half the size of his. When we sold mine, even in the down market, I sold it for twice what I paid for it. DH's was a rental that we now have on the market, and we will be writing a check to get out of it.