NYC skyline

Dreaming of a beautiful house on the hill is a lovely fantasy, but what if that means you’ll be in an obscure location that's difficult to access and the house is much bigger than you need? Maybe what you really wanted was a gorgeous view? Figuring out what’s best for you – which house size and which location – begins with weighing all angles of each possibility. It involves brainstorming the pros and cons, then analyzing them to arrive at a conclusion. The following ideas should get your thought process going. If possible, write down your pros and cons, either on paper or on your computer, so you can then review them before you begin the search for your new home

For more information about your home purchase options, speak with a loanDepot licensed loan officer today.

Option 1: Larger house, farther away

Are you happiest when you can get away from it all? Do you prefer a larger yard and plenty of extra rooms? Here are some pros and cons that can come along with a larger house in a more secluded area.


  • Plenty of indoor space, which is especially beneficial for larger families and for entertaining guests
  • Generous outdoor space, which you may love if you intend to have pets, cultivate a large garden, or work on outdoor projects
  • In certain locations, scenic views of mountains, lakes, and other natural beauty
  • Peace and quiet, further away from neighbors, and more privacy


  • More time, money, and energy invested in maintaining indoor and outdoor property
  • Higher costs for mortgage, utilities such as heating and cooling, and repairs, although in some regions smaller properties in or near cities can cost as much as larger properties in rural areas
  • Further from services like trash collection, health care providers, and snow plowing

Option 2: Smaller home, convenient location

Maybe your dream home is a quaint cottage or smaller apartment located in the thick of it all. As is the case with a larger home in a more remote location, there are both pros and cons attached to this choice. Here are some of them.


  • Less space to maintain, clean, heat, cool and repair
  • In some cases, lower mortgage, although in some locations you pay as much for a small place in the city as you do for a larger place in the country
  • Less time spent traveling to work, shopping, and entertainment
  • More opportunities nearby for social involvement with clubs, classes, church, and neighbors
  • Closer to mass-transportation
  • Access to theaters, museums, sports teams, concert venues, etc.


  • Typically more noisy with less privacy
  • More pollution from automobiles and industry
  • Limited indoor space for larger families and generally more limited outdoor property
  • Parking can be costly and difficult to find

Once you’ve come up with as many pros and cons as you can think of pertaining to house location and size, it’ll be much easier to clearly analyze which housing choice is most suitable for your lifestyle, personality type and living habits. Take plenty of time to do this, because deciding where to locate will have ramifications in your life for many years to come. Once you come to a conclusion, go for it – move forward with your choice, knowing you spent plenty of time wisely weighing all your options. Speak with a loanDepot licensed loan officer for more information.

Published March 18, 2016


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