Does Location Still Matter Most When You’re Searching for a New Home?

Source: Better Homes & Gardens

Not too long ago, any real estate pro would tell you that location should be your first consideration—but does this wisdom still apply?

Take the first steps in any house shopping journey, and you’re bound to hear the phrase “location, location, location.” (In fact, if you hear it just once during your house hunt, count yourself lucky.) This oft-repeated saying emphasizes the importance of location when you’re searching for your next home, and it’s been around for ages. So does it still apply?

In our remote-work world, proximity to the nearest highway into the city or closeness to the office doesn’t matter the same way it once did. If you only work from home, you don’t need to consider your commute when house hunting; if you only go into the office two or three times a week, you might be more willing to deal with a stressful commute just a few days a week—instead of five—if it means you can live closer to your favorite hiking trail.

Proximity to grocery stores, restaurants, parks, and the other elements that make up a town or community can still make or break your enjoyment of your new home. With all these conflicting forces at play, we have to ask: Does location still need to be at the top of your wishlist?

Ask an Agent: Is Location Still the Most Important Thing to Consider When House Hunting?

Location is so important.

I always tell buyers to look at the three Ls—location, lot size, and layout—because you can’t change them. And so when you’re looking at big-picture investment, the first one is location. You can never change location.

Is the house on a busy street? Does it back up to a Walmart parking lot? That will never change. Sometimes you even have to look at what’s going to happen behind the house. What does the city have planned? That might be a green belt now, but not in the future.

The three Ls are essential. You can go in and change carpet and remodel the kitchen, but you can’t choose a lot size. In the layout, you’re not going to change the footprint of the house. And you can’t change the location. You can’t change those basics of the house. That is what it is.