What’s More Important: The Size of a Home or Its Location
What do you think is more important? The size of the house or the location? Thinking? Well, would you like to stay in a place where you get things readily available? Or are you comfortable staying in a big-sized home at a place where getting the basic amenities are difficult too? Yes.
You are thinking in the right direction. While many believe that house size is the most crucial consideration when purchasing a home, the reality is different. When buying a home, the first and foremost thing you must consider is the location. Deciding the right location for building a home is the most crucial thing you will do in the entire building process. It can be challenging to decide which is more important, house size or location. Although both are vital variables, the one vital for you might rely on your family’s particular needs. Most people consider finding the ideal home in the neighborhood a dream come true.
Factors that determine the size of the houses
The choices of your home’s size were influenced by several factors, some of which are shown here.
1. The Size of the Family
Finding a big enough house may be difficult if you have a large family. For an already large family, you need more living space and bedrooms. Consider strongly forgoing location in favor of size if you’re prepared to move out of your starting house and into something larger. A bigger home can also imply an extra outdoor area for your kids and pets to play in.
2. Further Family Planning
The size of the home is important if you plan to start a family because you’ll need extra room to grow the family. Moving to the suburbs, where most families acquire more houses for their money, may be necessary for many cities. While the area may not be appropriate for accessing city facilities and commuting to work, it might be a good option for younger couples trying to raise a family.
3. Size of the home you are shifting to
You may occasionally require a smaller house. There are several situations where downsizing to a small house makes sense, including retirement and the desire for simplicity. The house’s location doesn’t matter if you’re planning to downsize because you might not require a spacious area. On the other hand, it might be too expensive to maintain a large house, so you could need to downsize. Although difficult, you can lead a normal life in a small area.
4. The amount of Travelling you do
The size of your home might not be as important if you travel for work frequently and do not spend much time at home. On the other hand, you might need to narrow your search of the house to small-sized homes if you don’t plan on using all the space in your large home. For example, owning or renting a small home makes sense if you discover that you aren’t optimizing the maximum bedroom space in your current residence.
5. Guest Space
You will need a larger room if you frequently have guests, such as friends and relatives. It will be better for your quality of life to have additional rooms and space where your family or friends can stay.
Factors that determine the location of the houses
The location is a primary element that helps in assessing a home’s long-period appreciation capacity when it comes to resale value. However, a few more variables influence your home’s location.
1. Deciding to Rent or Buy
If you intend to rent out your home later, the location will be important because tenants like to live in areas close to amenities like the neighborhood supermarket, gyms, and schools. It will be simpler to rent out the space if many amenities are nearby. Buying or renting a smaller home makes sense if you discover that you aren’t using half the bedrooms or space available in your current residence.
2. Kid’s Needs
Your child’s education will be impacted if you don’t pick a place with decent schools. If you have children, location is quite important, especially for their education and other extracurricular activities like sports or music lessons. Therefore, the house size would not matter as much if it were large enough but did not have a decent school close by.
3. Future Selling Plans
If you intend to sell the house, its location will play a significant role in deciding its value. The resale value of your home will increase if it’s in a desirable location with wonderful amenities since more people will want to live there. Therefore, location should be key in case you might require to sell the house in the upcoming few years.
4. Your Job Type
If you work in a field that allows for flexible hours, you might not need to worry about the house’s location. You are not required to work regular office jobs with set hours. The property’s location is less important if you are an entrepreneur or someone with lots of professional freedom, as long as it is close to utilities.
5. Availability of Amenities
The home’s location is important if you need to be close to particular facilities for your employment or medical reasons. You can also decide to reside close to other transportation hubs, such as train stations and bus stops. Those who require particular amenities should emphasize property location rather than size, such as parks, grocery stores, and restaurants nearby, among other amenities.
Conclusion
If you have thought buying a home was easy, then these points have probably made you understand how wrong your thoughts were. There are so many things that you must look into when you consider buying a home. Undeniably, the requirements differ from person to person, but even then, you will have to be thoughtful before you consider buying a home. For example, the size of the home or the location depends completely on your needs.
