Why Homebuyers Should Consider Their Commute Before Buying
Some people purchase the home of their dreams without thinking enough about transportation. They don't consider the time and money it will take to get to work and the other places they go. For most people, the point of homeownership is to spend time at home, not stuck in traffic. That's why commuting, local roads, and transit near home are factors every potential home buyer should consider. Keep reading to learn how proximity to transportation affects home value.
The Cost of Commuting
Driving costs money, and that expense is part of the cost of homeownership. People budget for mortgage payments, utilities, and upkeep but often forget to ask how much a commute really costs. The price of driving, including gas, maintenance, and depreciation, is close to 50 cents a mile. A long commute costs thousands a year, year after year.
A home close to good roads and public transit may cost more initially, but it's also an investment that will appreciate more and save homeowners money along the way.
The Convenience of Good Roads and Transit
Many folks enjoy driving on the open road, but very few like to drive in traffic. The faster one gets home from work, the more time spent on favorite activities. And if there's a bus or train available, there's time for reading or savoring a nap rather than putting up with other drivers' questionable skills.
Also, work isn't the only place people go. Easy access to school, shopping venues, and restaurants make life simpler and more pleasant.
How Close To Transportation Should You Be?
Some people don't mind living in an area close to the freeway or with a lot of traffic. For most, however, there's such a thing as being too close to major roads and transit centers. High-traffic neighborhoods and areas close to bus and train stops can be noisy. Sometimes they're more dangerous for small children and pets.
People who use public transit usually prefer to be close enough to walk but distant enough to minimize crowded sidewalks and busy streets. Folks who drive to work want to be far enough from major roadways to miss out on the noise and the pollution. A potential sweet spot is where you can get from your front door to the main road or the bus stop in five to ten minutes.
Evaluating a Home for Commute Times and Transit
Modern technology is helpful for many things, and one of them is learning about commute time from home without having to drive to the workplace during rush hour. A few minutes with a map application will find the best route and also tell you long it would take to drive it right now. It's best to check the commute times on several occasions during the morning and evening commute.
A map app will also tell where to find shops, restaurants, and professional services and tell how best to get there. Whether it's a quick trip to the grocery store or an emergency visit to the hospital, knowing the required drive time is as close as your phone.
Transit users will want to review the bus and train schedules to ensure a stop is close by, the frequency is adequate, and the service goes to the needed places. Those who use rideshare apps should sign on and find where drivers are generally available. Evaluating the location of your home purchase is almost as important as getting a home inspection.
The Work From Home (WFH) Phenomenon
The trend toward working from home has accelerated in the past few years, and adding a home office makes sense now more than ever. As more people commute to work only once or twice a week, or even not at all, living far from the workplace has become more attractive. Some people don't mind living in the "middle of nowhere," while others will still want accessibility to shopping and cultural events. Those considering a purchase far from work must decide whether the lifestyle is right for them. They should also consider that people sometimes change jobs, and some companies won't encourage or allow WFH indefinitely.
Access To Transit Saves Money and Improves Quality of Life
How close and convenient does transportation near home have to be? People must find the answer that's right for them, but everybody should consider the commute before offering a home. Use digital map services and visit the location before buying a get a feel for what the commute will be like. Get the most out of your real estate investment by ensuring the transit infrastructure around the home suits your needs.