I love a house but its in a not-so-great location. Should I sacrifice a "family friendly" neighborhood for a dream home?

Asked by Erin Cloutier, Mon Mar 5, 2012

Help the community by answering this question:

+ web reference
Web reference:

Answers

6
Louis Wolfs…, Agent, Needham, MA
Mon Mar 5, 2012
Is it in a community you know and is desirable? How long has it been on the market? How is the school system? Do you see the new property retaining its value or increasing or decreasing proportionately to the area its in?

But in the end money is not the only factor - if its your dream house and you and your family will be happy there - go for it.
0 votes
Christine St…, Agent, Longmeadow, MA
Mon Mar 5, 2012
Erin,
Great question. Conventional wisdom would say "location, location, location".
Can you see you and your family living there? Would you love driving home each day? Would you be house proud? Think about these questions. They will help you make the best decision for you and your family.
0 votes
Territory.c…, Agent, MA,
Mon Mar 5, 2012
If it increases the quality of your life (larger space, bigger lot/yard, better interiors, etc) then it sounds like, yes, make the sacrifice. However if you feel you are putting your family in "danger" of any sort then you should probably continue your search. The spring market is right around the corner so the inventory should start to increase.

Good luck!
Web Reference:  http://territory.com
0 votes
Don Tepper, Agent, Burke, VA
Mon Mar 5, 2012
Define "not so great."

If "family friendly" is high up on your priority list, pass on the house and keep looking.

If "not so great" means it's been going down hill for the past few years, pass on the house and keep looking.

However, I've known plenty of people who've bought homes they loved in areas that they didn't. In those cases, they really liked the house, often they didn't have kids, the area itself was showing indications of improving, the home was in an otherwise good location (close to work, shopping, entertainment), etc.

Generally, stay away from homes in declining neighborhoods. Otherwise, weigh your priorities (crime, school system, proximity to work, proximity to entertainment, traits of the home itself, affordability) and make your decision.

One other point: Unless you buy into an improving neighborhood, it's likely that when you decide to sell there will be the same reluctance from some buyers that you're currently experiencing.

Hope that helps.
0 votes
Joyce Lin, Agent, Leominster, MA
Mon Mar 5, 2012
Erin,

A Real Estate Agent can advise you that resale for that location would be more difficult, that it may not be the wisest investment, but honestly, only you can say whether you're willing to make the sacrifice.

I personally wouldn't, but that's just my opinion...

Just remember, the one thing you can *never* change about a house is location!

j
Web Reference:  http://www.JoyceLin-RE.com
0 votes
Heidi Zizza, Agent, Framingham, MA
Mon Mar 5, 2012
Is it a busy road? What makes it not family friendly? If you love a house go for it!
0 votes
Search Advice
Search
Ask our community a question

Email me when…

Learn more