You can change the house and adjust your budget, but you can't pick up your home and move it. Here's how to think about the triangle when buying in Portland.
When you’re looking for a home, there are really only three things you’re weighing. I call it the triangle: location, price, and property specifics. Where is it, how much does it cost, and what does the home itself look like? Every buyer is balancing these three, and at some point in the search, you’ll have to decide which one you’re willing to flex on and which you’re not.
Of those three, location matters most. I know it sounds like a cliché, but it’s true. You can change the house. You can update a dated kitchen, redo the landscaping, and turn a raw backyard into a beautiful oasis. You can adjust your price point depending on what’s available. What you cannot do is pick up the house and move it somewhere else.
Location outlives every upgrade you make. Schools, commute, walkability, and future development potential all outlive the finishes in a home. You can always update what’s inside. You can’t change what’s around it. If you’re commuting a long way every day, or if you’re not close to the things you do regularly or the people who matter to you, that’s going to affect how much you actually enjoy living there, no matter how nice the house itself is.
The wrong spot costs you twice. I’ve worked with clients who bought a home on a busy road. They loved the property so much that they upgraded it further after moving in. But the road noise never stopped being a problem, and when it came time to sell, that location made it harder. The resale potential wasn’t there because the same thing that bothered them also bothered the next round of buyers. They had a beautiful home in a spot that worked against them on both ends.
Price and property still matter, but location anchors everything. Your price range is finite. If you’re looking in the $400,000 to $500,000 range, we’re not going to be touring homes at a million. Your property needs will also have certain minimums. But when all is said and done, and everything is equal, don’t underestimate the power of location. If you prioritize it over everything else, you’ll have the cornerstone of a sound strategy, whether you’re buying or selling.
If you’d like to talk about what the right location looks like for your next move in Portland, I’d love to help you come up with a strategy that works for you. Reach out at 503.522.0090 or sarita@asksarita.com, or visit blog.asksarita.com ** ** to get started.
