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Aethelwine's avatar

Would you live in a money pit located in a great location, or a house in great condition but in a location you aren't fond of?

Asked by Aethelwine (42945points) July 7th, 2010

My husband and I are facing this dilemma, and I was wondering what my fellow jellies would do in this situation.

This is keeping me up nightly. Such a difficult decision.

*note- There is very little money to make needed improvements to the money pit.

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20 Answers

YARNLADY's avatar

Location is the primary concern to me.

Cruiser's avatar

Money pit hands down. You can get use to the “condition” of a home but NEVER ever get used to the location!

perspicacious's avatar

In real estate it’s all about location

tinyfaery's avatar

Location is much more important. I have moved countless times in my life (7 times in in 1994) and having things around that you like and places you like to go mean much more than the building you live in. Houses can always be fixed, but if you live in a place that doesn’t suit your lifestyle, you will be miserable.

Seaofclouds's avatar

For us it’s all about the location. We want to enjoy the area we live in once we buy our own house.

JLeslie's avatar

People usually say location location location, but I would go with the nicer house probably. It would depend what is bad about the location…long commute to work, far from the grocery store…what is great about the other location, on a beautiful lake, near the schools your kids go to, what are the negatives and postives about the two locations?

Mtl_zack's avatar

Location is something you might have to worry about in the long term. You may change your mind in 10 years and regret your decision.

Aethelwine's avatar

This is interesting. I’ve been leaning towards location.

jaytkay's avatar

Great house
Are you a homebody who would enjoy cocooning nights & weekends in your own home?

Or maybe you like to be the host, the fun comes to you, your typical “night out” is holding a dinner party?

Great location
Do you see yourself wandering the area evenings, visiting the local attractions? Inviting friends to your neighborhood (not your home, your neighborhood).?

Megan64's avatar

Location that you love is most important.

JLeslie's avatar

@jonsblond How long will you probably live there? Will the location impact how easily you will be able to sell when you want to sell?

Aethelwine's avatar

@JLeslie Great question. We would move now to Wisconsin if it weren’t for our youngest son. He’ll be a junior this year, and we don’t want to move him out of state, so we’re waiting until he graduates in two years.

@all Thank you for answering. You are giving me much to think about.

JLeslie's avatar

@jonsblond So you might move again in a couple of years. If it is difficult to sell maybe consider renting and don’t torture yourself. I don’t know what the housing market is like where you live, but a lot of people are renting out their houses because they can’t sell. You might be able to find something in the neighborhood you are interested in. Then you can be in your favorite location without the real committment.

betterdays's avatar

You can have a great house in a wonderful location, but if you have a terrible neighbor next door it then turns into a bad location. We should have asked around before buying our former house about a neighbor that ended put us and all of the other surrounding neighbors through years of torture.

Simone_De_Beauvoir's avatar

I’d choose the location – the money pit is something we can get used to as long as our family is together.

augustlan's avatar

For me, it would depend on how bad the money pit is versus how bad the other location is. Right now, I’m kind of living in the worst situation: a money pit in a bad location! I’m not crazy about the situation, but I still love my home. Not my house… my home. My people and my stuff are what make it my home, you know? Your people and your stuff will make it your home… wherever it may be, in whatever kind of house. Best of luck with the decision!

chyna's avatar

Because of my situation, single with no knowledge of how to fix things, I would choose the house I didn’t have to fix up. I wouldn’t have the money to fix things, nor the money to hire it done.

downtide's avatar

I would go with the nicer house, because neither I nor my partner have any skills at house renovation, and we don’t have the money to pay anyone else to do it. It wouldn’t be a money-pit because nothing would ever get done and I would detest living in it.

NaturallyMe's avatar

I’d never live in a location that i didn’t like….that would just be too depressing. Well…i suppose if it was still a safe neighbourhood for myself and my pets, then i may consider it, because let’s face it, nobody wants to waste money on a fixing up a crappy house.
I don’t like your options, i choose option C – staying in a nice house in a nice area. :)

Aster's avatar

The money pit. Just fix it up gradually and enjoy that great location!

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