The influence of location on value is recognized by virtually everyone, yet, little consideration is focused on the personal effect location plays on the buyer’s lifestyle. What part location plays on an owner’s everyday responsibilities is a question that seemingly few prospective buyers ask. How does the location of the neighborhood you’re considering affect your lifestyle? Do homes in your target neighborhood lend themselves to the type of lifestyle you want to lead? Would you prioritize a better neighborhood or better home?
Better Neighborhood or Better Home?
Buyers commonly compare the benefits between choosing a better neighborhood versus a better home. What’s a better neighborhood for you? Would you prioritize a better home over a better neighborhood? Here is a list of practical considerations that will help answer that question.
Questions to Compare Lifestyle vs Location
How do schools measure up?
Even if you don’t have school age children, school quality contributes to real estate values. Homes in neighborhoods served by a superior school system, such as the Eanes ISD, command premium prices and maintain their values more consistently over time.
Are objectionable sensory stimuli present?
If you are sensitive to noise, odors, or traffic, your satisfaction with the home will wane and could become intolerable especially when change is unlikely.
Does the property offer sufficient privacy?
To what degree does the home provide the seclusion you desire? Do you feel the neighbors intruding into your lifestyle?
Is the commute manageable?
What is the maximum limit on commute time and distance? How much time is you willing to sacrifice to your commute?
Is the neighborhood lifestyle compatible?
Do the neighbors seem reasonably compatible in terms of status and income with you? Are you reaching beyond your means or do you want to be “top dog?”
Does the neighborhood facilitate your hobbies?
Might nearness to your favorite activities (e.g. golf, tennis, walking) affect your satisfaction with the home?
Are there known health or safety issues?
A bit of research will provide peace of mind.
You Can Change a House, You Can’t Change It’s Location
Consider how location will affect your enjoyment of your home. Remember, you can change a lot about the finishes and interior of your home, but you can’t change the busy road behind it, how your neighbors care for their home or the gridlock traffic you have to sit in to get to the office.
Consider the Impact Your Lifestyle will Have When Choosing a Location
Buying a home is all about you. Doing your homework and doing a little soul searching will help you make a better, more informed purchase decision. Spend some time evaluating how each neighborhood and/or home you’re considering will impact your lifestyle. On paper, a neighborhood or particular house could be everything you should be looking for, but if you aren’t going to enjoy living there, you might want to think twice before buying.
Thinking of Buying a Home in Austin?
Hire an experienced buyer’s agent who knows the questions you should ask before buying. Someone who has been through the process thousands of times is invaluable in making your home search an enjoyable experience, which is just what it should be. Our team has a combined 55+ years of experience representing home buyers and can help save you money, even in this strong seller’s market. Check out our Austin Buyers page to learn more about our team and how we work. Then, fill out our Buyer Survey, email us at info@11OaksRealty.com or call us at (512) 827-8323 to schedule a no obligation consultation. We’ll help you buy a home you’ll be happy with for years to come!