Location vs house size means different things to different people but from a broad perspective, the location of an apartment or house, as well as its size, are two important elements to be taken into consideration before you rent an apartment or buy a house. However, in a situation where are at a crossroads and not sure which to prioritise, there are certain questions you should ask yourself before you make a decision. Take a look at the questions below:
Do You Have a Budget Set Aside For Maintenance?
By default, the bigger the house or apartment, the more time and resources you would end u spending to keep your house clean. You should remember that the maintenance of a house is not limited to cleaning your living room, toilet, bathroom and kitchen. Maintenance also extends to the outdoor areas of the home like your compound and space around the house; including your drainages, garden and garage.
For a really big house, you might end up needing the services of professional cleaners especially if you want a thorough job.
Is Your House Long-Term Investment?
Typically, houses in city centres and prime neighbourhoods are more expensive than those within the suburbs. This explains why it would cost you more to buy a house in Ikoyi, Victoria Island, Ikeja and Lekki while it would cost you less to buy the same property in a place like Ikorodu or Akute.
If you are looking to benefit from the profitability of owning a home in a prime estate in Lagos for instance, you’re more likely to settle for location. Such locations would have good amenities, restaurants and schools in close proximity. These are factors that drive up the value of a house.
For more spacious homes, what you can do is to buy one with a plan to profit from creating a getaway home for those seeking to disconnect from the hustle and bustle of the city.
Do You Own a Lot of Furniture?
If you own things like a treadmill, a piano and a pool table, then you’ll need to prioritise space over location because you clearly need space for these items. A pool table and a piano are not things you move into a mini-flat or self-contained apartment.
One advantage of going for a big home is that it allows you to keep all your cool stuff. You enjoy the luxury of having different rooms that you can assign different uses to.
Will You Be Living Alone?
Before you buy a house or rent an apartment, you need to be sure whether you’re are going to be living in the house all by yourself or if you’re going to be sharing the house with someone or with your family.
Living on your own is totally different from living with your family. If you are going to be living on your own, your priority will be the location of the property. However, living with your family would require more space to make them more comfortable.
If you are a student in a tertiary institution like the University of Lagos (UNILAG), you are likely to favour location over space; even if it means sharing an apartment with a friend or two. It would not make a lot of financial sense to be a student of UNILAG while you rent an apartment in Ikorodu. The distance and stress of commuting would eventually get to you one way or the other.
Are You Budgeting For a Luxury Home?
A house that has a golf course, a private swimming pool, a football field and a lawn tennis court is a luxury home. Such homes not common in city centres within the Lagos metropolis. If you’re looking for this kind of space, you’ll need to compromise a little on location and go for size.
There are luxury homes that don’t have this feature but if you are aiming for luxury homes that have features like a soccer field, you’ll have to go for size over the location. To truly enjoy these features, you have to look away from the city centre
How Do You Spend Your Time?
If you’re the kind of person who enjoys spending time at fun spots like bars, clubs, malls and the cinemas, then you’ll be better off picking location ahead of size because a good location places you closer to such facilities. However, if you’re the kind of person who really enjoys spending time indoors, then you’ll prefer a lot of space to allow you to fully express yourself.
More space also allows you to host friends and family better. Squeezing your guests into a small home does not sound like the kind experience you’d want to give your guests.
Final Thoughts on Location vs House Size
The decision of whether you should prioritise location over house size will rest largely on your needs, your expectations for the future as well as your budget. Take a critical look at this before you arrive at a final decision.