Home Vs. Neighborhood - What's More Important?
What Is More Important: The Home OR The Neighborhood?
We just had a rather healthy debate with some other agents about this topic. We were asked in a group setting what is more important to today's buyers, the home or the neighborhood ( we couldn't answer both ).
While it's hard to make a blanket statement, based on our personal experience, many of our buyers seem to be focused on the "home". Maybe even a little too much.
In today's market, we understand that buyers "want it all" when it comes to finding a home. The home has to look a certain way on the outside, the floor plan must be just right, and room sizes must be perfect as well. It also must be a finished product and done to their tastes, because many of today's buyers lack vision or simply don't want to do any work themselves. Oh yeah, and it would be nice if it's in a neighborhood or area that they like as well.
On the flip side, when we talk to our selling clients and ask what they will miss the most, they rarely mention their home. Most say they will miss the neighborhood, the proximity to schools, or the friendships they've developed in the community. Rarely do we ever hear "I'm really going to miss this huge dining room that we just had to have when we bought the home because it perfectly fit our antique dining room set".
I'm not saying people don't love their home. It seems though that once someone moves in and starts living in a home, the more they begin to appreciate the other features such as location, amenities, and the neighborhood. The home often becomes secondary after time.
So what is really more important, the home or the neighborhood? It seems to depend on where you are in the cycle. However, we think that today's home buyers would be wise to "relax" just a little bit about not getting every little thing they want, and focus on the big picture of what will most likely make them happy in the long run.