Home Buying in 56001>Question Details

Melina Piroso, Home Buyer in Mankato, MN

Is it better to buy a smaller, older home, but in prime location- West Mankato, or buy a 30 years newer, nicer home, but further out in Eagle Lake? th

Asked by Melina Piroso, Mankato, MN Mon Apr 4, 2011

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13
Yes it is important to consider both options - weigh the "pros" and "cons" of each choice. Consider the extra expense involved from fuel consumption with living a bit out of town as well any extra time it would take from your schedule for traveling back and forth. Both are great options... as long as they are within the budget you are comfortable with.
0 votes Thank Flag Link Sat Jun 21, 2014
It is important to consider location for re-sale purposes but most importanly that the payment you are going to commit to for the next 15-30 years is affordable and will not put strain on your finances. Consider "needs" VS "wants" ;-)
0 votes Thank Flag Link Wed Oct 31, 2012
I am really curious as to which house you ultimately bought? I am familiar with both areas and like both so I know it was a tough decision! Barb Conley Mankato Realtor
0 votes Thank Flag Link Wed Apr 18, 2012
You are right...both locations are great. Eagle Lake is currently growing nicely, and I (personally) like the smaller Elem. school. Have you taken time to view properties in these locations yet? Sometimes, the more you look at the more clear it will become what you need/want. I would be happy to assist further in any way. GOOD LUCK to you and your family!
0 votes Thank Flag Link Wed Jul 27, 2011
Location location is key in home purchase. But you should also keep in mind other important factors such as schools,crime, traffic and access to stores. Remember you can also change the features of a home but can not control external factors.
0 votes Thank Flag Link Tue Apr 5, 2011
It depends on personal choice. Do you want to live in town or in a nicer place out of town? Although location is a very important thing but some people like to live in a quieter place, so when they come home after work, they do not have to deal with noise, traffic etc. Both homes have own pros and cons.
0 votes Thank Flag Link Tue Apr 5, 2011
Hi Melina,

There is a little more to it than just finding a home for the value. I see that you have kids.(Or a baby!, Cute) Look into the school districts and find out which schools you are comfortable sending your children to. Walk the neighborhood to see if you feel safe and check to see if there are older neighbors or younger neighbors. This makes a difference as your kids get older and want kids to play with in the neighborhood. And, remember, a new house is only newer house gets old too, so you may want to think about that too. Good Luck, Melina,. Take Care!

Barb Conley-Realtor
Mankato, MN
0 votes Thank Flag Link Tue Apr 5, 2011
Melina,

I would say that location beats amenities. You can usually change the house (add on for example) but you can't change the location. I would also add that there's a value associated with the location and how it fits your lifestyle. Is your commute shorter, is it near a school you want your kids to go to, are the neighbors and neighborhood more in line with your family, etc?

Good Luck!
0 votes Thank Flag Link Mon Apr 4, 2011
location, location, location...PS, I love Mt Kato and the good old days of Mountain bike racing in the summer time and skiing the Ice Packet slopes in the winter....

Also consider the men who built homes 30 years ago, they took pride in their work. In the last decade with homes being developed like they are from a factory line have seem to lose a lot of quality measures.

Here is blog i wrote about buying the home of your dreams
http://blog.house-guy.com/2011/02/buying-home-of-your-dreams.html

enjoy...
0 votes Thank Flag Link Mon Apr 4, 2011
Hi Melina,

I have found that homes with more living space are easier to sell than smaller homes even if it's in a nice location. People seem to need more space these days than they ever did before. If the home in Eagle Lake fits your needs and is in your price range, I think that might be your better choice. But of course it's your ultimate decision.

Wishing you well in your home search!

Molly Robertson
Broker Manager
Bridge Realty
507-345-7822
homes@mollyrobertson.com
0 votes Thank Flag Link Mon Apr 4, 2011
Hi, Melina!
It's all about YOU! You are the ones who will be living in it. Each type of property will have a market for certain types of buyers. I don't work your area, but in any metro area, small or large, there is something to be said for location. I would talk to a professional REALTOR in your area to see what is a more desirable market. If they are about even in terms of their appeal, then it's what you want to do that's important.

Good luck~
0 votes Thank Flag Link Mon Apr 4, 2011
You might consider the prime location to have better resale, but depending on the price range, you might find a more expensive home located farther out at a more reduced price.

Sorry, my answer at this point doesn't tell you what to do, but if I knew more of what your looking for I could be more clear.

Dan Christensen
507-388-8484
d.christensen@remax.net
0 votes Thank Flag Link Mon Apr 4, 2011
WE like both equally, but we want to know which is most likely to keep it's value!
0 votes Thank Flag Link Mon Apr 4, 2011
Hi Melina, This must be an old posting!! Hopefully you made the right decision buying in Eagle Lake! I enjoyed working with you and your cute children. Tell them HI from me.
Flag Thu Nov 15, 2012
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