Change Location
 
 
MATTHEW SLUTSKY
Senior Buzzer
reply 2216 vote 132
 

How important is location to you when buying a house?

I was thinking about entering a bidding war on a house that I really liked, tomorrow. [errr... I THINK it will go to a bidding war, but am not sure].

The house had everything we wanted. It is midtown Toronto, a nice neighbourhood, fully detached, powder room on the main floor, ample parking...etc....etc...

BUT, after driving the area a few times I realized that while it has a WalkScore of 88, it is just not close ENOUGH to walkable amenities that I want. In this case, it is a 15 minute walk, opposed to a 5 minute walk. Sure, it is walkable to a lot of stuff, and in a great location, but not walkable to anything that I am really interested in such as a great coffee shop, or a super-star restaurant.

You always hear, "location, location, location", but how targeted do you need to be with your location? What is the max walk that you are willing to make?
10
Canada / Resale Discussions
 
 
 
GRACECONDOS
Buzzer
reply 53 vote 4
 
 
Be really targeted with where you want to live Matthew and don't stray outside your comfort zone. Something will come up and you'll be glad you waited. I know you've sold your condo, so you're probably feeling a bit of pressure. Have your Realtor write letters or knock on doors right where you want to be. You'll find someone planning to move.

Can you share what house you were considering?
 
 
JOSIE STERN
Buzzer
reply 107 vote 54
 
 
GraceCondos said:
Be really targeted with where you want to live Matthew and don't stray outside your comfort zone. Something will come up and you'll be glad you waited. I know you've sold your condo, so you're probably feeling a bit of pressure. Have your Realtor write letters or knock on doors right where you want to be. You'll find someone planning to move.

Can you share what house you were considering?

I agree that you shouldn't settle if you can afford a house in your location of choice. It's too expensive to move if you're not happy with your purchase. I'm confident a house with your name on it will come on the market.
 
 
MATTHEW SLUTSKY
Senior Buzzer
reply 2216 vote 132
 
 
GraceCondos said:
Be really targeted with where you want to live Matthew and don't stray outside your comfort zone. Something will come up and you'll be glad you waited. I know you've sold your condo, so you're probably feeling a bit of pressure. Have your Realtor write letters or knock on doors right where you want to be. You'll find someone planning to move.
Can you share what house you were considering?

Hey @GraceCondos, I really liked the house and don't want to push anyone in any different directions if they are thinking about putting an offer in tonight. As such, I am going to hold off on naming the address of the house for a little bit.
I guess the question that I am trying to figure out is: does 2-3 blocks really matter to you when looking at location (if it is within the neighbourhood that you are interested in).
For me, the answer is yes! It is my guess that answers will be different for people living in the 'burbs than it is for people living downtown. The reason being that people like to live downtown for walking distance to amenities, whereas people who live in lower density areas are not walking anywhere and are thus more interested in being in the "right" subdivision or neighbourhood.
Make sense?
 
 
JOSIE STERN
Buzzer
reply 107 vote 54
 
 
Matthew said:
GraceCondos said:
Be really targeted with where you want to live Matthew and don't stray outside your comfort zone. Something will come up and you'll be glad you waited. I know you've sold your condo, so you're probably feeling a bit of pressure. Have your Realtor write letters or knock on doors right where you want to be. You'll find someone planning to move.

Can you share what house you were considering?


Hey @GraceCondos, I really liked the house and don't want to push anyone in any different directions if they are thinking about putting an offer in tonight. As such, I am going to hold off on naming the address of the house for a little bit.

I guess the question that I am trying to figure out is: does 2-3 blocks really matter to you when looking at location (if it is within the neighbourhood that you are interested in).

For me, the answer is yes! It is my guess that answers will be different for people living in the 'burbs than it is for people living downtown. The reason being that people like to live downtown for walking distance to amenities, whereas people who live in lower density areas are not walking anywhere and are thus more interested in being in the "right" subdivision or neighbourhood.

Make sense?

It makes a lot of sense especially if you can afford being a few blocks closer to where you want to be.
 
 
GRACECONDOS
Buzzer
reply 53 vote 4
 
 
Heck, 1 block makes a difference to me. My perfect location on a residential street is 20-40 houses away from the main drag that has all the ammenities I want.
 
 
ANONYMOUS
 
 
Location is everything and ideally you should be 100% comfortable with what you buy. This being said, the reality is in this type of market you may need to be a bit more open to trading off certain things to get a home in the area and on a street you love. If its an extra 10 min walk to some key location maybe that's a positive. A nice walk through your neighborhood can be very relaxing and also a great way to meet neighbors. Maybe you can take up riding a bike if you don't already. You would be surprised how much more you learn about and appreciate an area when you slowly walk or bike through it as opposed to driving. Steve Jobs used to have some of his most important business meetings on long walks and he did pretty OK for himself. For me the nearest big grocery store (important tomme) is about a 15 min walk away and I love the opportunity to walk there as it gives me a chance to reconnect to the streets I love.
 
 
MARCO DIFOTI
Senior Buzzer
reply 529 vote 32
 
 
In a downtown setting, every street matters. Two parallel streets could be worlds away in terms of character, walkability, and price. No matter how much you want to live in a neighbourhood, do not compromise on the street (if it is for you, and not as an investment).
 
 
ANONYMOUS
 
 
Marco said:
In a downtown setting, every street matters. Two parallel streets could be worlds away in terms of character, walkability, and price. No matter how much you want to live in a neighbourhood, do not compromise on the street (if it is for you, and not as an investment).

I agree with Marco. I meant if all things were equal about the streets/area except that one was slightly further walk from amenities that mattered to you then you could consider walking a bit more. Sorry if you thought I meant it was ok to give up your dream and live on a street with crackheads and the like just to be in a certain general area.
 
 
ANONYMOUS
 
 
Brian said:
Marco said:
In a downtown setting, every street matters. Two parallel streets could be worlds away in terms of character, walkability, and price. No matter how much you want to live in a neighbourhood, do not compromise on the street (if it is for you, and not as an investment).

I agree with Marco. I meant if all things were equal about the streets/area except that one was slightly further walk from amenities that mattered to you then you could consider walking a bit more. Sorry if you thought I meant it was ok to give up your dream and live on a street with crackheads and the like just to be in a certain general area.

Although it is also possible that the crackhead street or area may have more upside in terms of appreciation if the right conditions exist. Sorry just the investor side of me always lurks in the background.
 
 
GABRIELLA
Buzzer
reply 20 vote 1
 
 
Location is absolutely key!
Most importantly, you have to enjoy living there. But it's also something you have no control over when you sell. You could have done all sorts of fantastic renovations on the house, but you won't make the money back in resale if buyers don't like the location.
 
 
 
 
 

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