If you’re torn between two homes and cannot decide which one is the better buy, it is time to consider more than the price tag. Price matters, but so does quality, view and the never-to-be-ignored location.
I recently did a value assessment for prospective buyers. After an afternoon of viewing homes in Rancho Palos Verdes two homes of similar size and condition were the top contenders. Both homes were remodeled, both had inviting grounds and each home had a view. They sound very similar on paper and even appeared as near equals to the eye.
The subtleties separate the wheat from the chaff– to choose what is of high quality over what is of lower quality. House Number One was a tract home. House Number Two was a custom home built by a name architect. House Number One had a distant view of city lights. House Number Two had an ocean and Catalina Island view. House Number One had a lovely backyard albeit a bit smaller than House Number Two. House Number One was in a neighborhood with a top price range of $1.5M. House Number Two’s neighborhood is peppered with multimillion dollar homes.
Although House Number One was priced more per square foot than House Number Two, House Number Two was a larger home with an additional bedroom. House Number One won on entertainment flow with its large living room. House Number Two scored high with its one story floor plan.
Personal lifestyle always plays an important role in the selection of a home, but when it is time to evaluate price versus value, make sure you and your agent consider all the components of the property including amenities, construction quality, neighborhood, view and location.