Currently our Church is faced with the problem of space. It’s a great problem to have. We’re just really wrestling with how to handle it.
I’m a big proponent of the “location is everything” camp. However, while our location is incredible (right in the heart of the French Valley) it’s just a bit too small. So we’re beginning to have the discussion about a larger facility.
So here’s the dilemma. We don’t have the cash to construct a new building and the closest available building is miles away from the heart of our community.
So how important is location really?
ericbeeman.com 
Depends on your vision
if you are using an attraction model wherein you serve up ministries, then it’s not that important.
If you have a missional strategy, it is super important.
You sound like a Church planter… ;). What happens if you’re both?
As a past member of some great church plants and now at home at Lamb’s Fellowship, I believe it is super important to create a church “home”. Location is not as important as some other components for a church. I know the church is more than a building, but having your own facility in which to do “church” and all the things that make it up — is super important! People will drive to a location that they know is where the “church” is!
if you’re both; You are gonna burn yourself out
and i don’t think one is better than the other