What would you rather - house purchase?

[LighteningRidge]

Buy the house that has (mostly) everything you need in the house. It isn't perfect but with some tweaking and maybe a small extension in a few years it could be close. However, it is a road over from a less desirable area of the town.

Or

Buy a house which requires work which will take years and expense. Perhaps comprise on a bedroom and other factors you would rather have than not, but is in a better area.

It is fairly difficult to say which one would increase in value more because house prices are crazy anyway, but I suspect the nicer area would net you more, but you have to compromise more day to day and spend more on the property.

You want to stay long term too. So what do you do?

For me it depends on what is meant by 'better area'. If it just means a posher area, I'd choose option 1. If it means an area that is closer to all the things you enjoy about where you live, potentially just walking distance away from the front door, I'd go option 2.

If the area isn't terribly crime ridden and anti social then I'd go against the grain and say house one. If it's somewhere that you'd be scared to let your kids out to play then house two.

As someone who is stuck in a tiny house in a decent area, I'd take a bigger house, parking etc over the better location any day. It's miserable being in a shoebox with not enough room for everyone (we bought it before children) and having to park 4 streets away.

The update would change my mind, yes, I'd go for the first or look for something else in the second. There is no point in buying a house which doesn't meet your needs inc parking.

Option one is probably what we'll go with. There really is nothing great on the market which ticks most boxes and is in a better area unless we up our budget significantly. The town is fairly nice and it is all equal distance to good schools etc. The house is decent. The road is full of older people who I hope are lovely and ultimately will meet our needs. But a lot of people do always say location is key.

Rockbird we too have a small house (just under 700 square feet). Somehow we cope - decluttering helps and putting everything away. One coat or pair of shoes in the wrong place can make the whole house look a mess.

Roughly how small is your home?

DryHeaving Completely agree.

I'd never even look at a house without a drive, especially one that has room for two cars side by side. I could not be arsed with the faff of moving cars every time one of us went out or worse, coming home to find I couldn't park anywhere on my own street.

Drive round the rough area in the middle of a weekday. If you see lots of builders, glazier, carpet, P&D etc vans then the area is up and coming and you can choose the first house.

We went for the slightly less nice area to get more space and a garden. Not regretted it.

@Faith50

Under 700sq feet?
How many people and bedrooms?

Lovemenorca

Two adults
Two DC

It is not the best but we cope. I am an absolute minimalist.

Not enough equity or high enough salaries to move to a much larger home.