Dream Home or Dream Location?

“Love looks not with the eyes, but with the mind” - William Shakespeare

Is this the same for a home buyer?

Unfortunately for many Tulsa home buyers, houses finally end up being more important than neighborhoods they are located in. Now, think of a neighborhood in your community that you would never consider living in. Now, suppose that your Tulsa ‘dream home’ was suddenly available within that neighborhood. Would you buy it? Some would think likely not, due to whatever negative associations that neighborhood holds for them, but unfortunately many home buyers switch their focus to the house and forget about their Tulsa neighborhood. Now, think of that neighborhood where you would love to live. How many concessions would you be willing to make to find a home within that lovely neighborhood? For most people, there are quite a few. That big whirlpool tub is not a necessity; the additional bedroom that is not really needed; appliances can always be swapped out; a separate office is not mandatory, use that additional bedroom for it. However, when all is said and done, many buyers will revert back to the dream home and not the dream neighborhood.

Tulsa home buyers can tend to lose focus and concentrate on the benefits of the home to them, i.e., it already has updated kitchen and baths, has an office or game room, is new construction etc. “I can get more bang for my buck with this home,” so they believe. Of course there is a reason for that – poor location when compared to others previously chosen. A home buyer can then pass over the home that does not appeal so much that is better located in their chosen neighborhood. It should be remembered, home updates, building an addition, removing a wall, changing paint color etc., can be done to any home in any neighborhood. The crux of the matter is you can change the home so it has all that you desire, but you cannot change its location. Unless of course it has wheels.

When it comes to price the Tulsa home buyer needs to remember that identical houses in different neighborhoods, do not equal the same $ price. Adjustments must be made for location, location, location.

If you are a Tulsa home buyer, stick with your chosen neighborhoods and purchase a home within one of them. The home may not give you all that you originally set out for. Change the home and live the dream in that location. You will certainly be happier with that decision. You can have the “house of your dreams,” but if it is badly located, it will not remain your Tulsa dream home for too long.