« Stable Real Estate Market Forecast | Main | Immigrants driving real estate market »
Walk this way
It's healthy, green, in fashion ... and could increase the resale value of your home. Just how walkable is your neighbourhood?
Walkability has become a buzzword in real estate, as environmentalists and "green" planners advocate compact residential neighborhoods near businesses and public transportation. And some realtors say in this difficult market, houses with high walkability scores are easier to sell: Owners can save money by walking to mass transit, and by using less gas when running errands.
Although the idea of a compact town center is not new, walkability has become easier to quantify, thanks to Walkscore.com. The website's algorithm takes a previously subjective idea - being able to step out your door and walk to places you need to go - and boils it down to a single number. Now online real estate sites, including Zillow and ZipRealty, are beginning to add walkability ratings to their home listings.
"When people live in a walkable neighborhood, they are able to save a lot of time and money that they would otherwise be pouring in their gas tanks," said David Goldberg, communications director for Smart Growth America, a Washington-based coalition of organizations promoting smart planning and building, and an advisory board member of Walkscore.com. Goldberg notes that some of Boston's early suburbs, such as Watertown and Belmont, are very walkable.
On a grander scale, people who walk more and drive less have a smaller carbon footprint. And the exercise tends to keep them in better shape.
Walkscore.com calculates walkability by awarding points for amenities - such as a restaurant, store, park, school, or library - within 1 mile of an address. The number of points depends on the closeness of the amenity, with the most points awarded for those within a quarter-mile.
July 9, 2009 in What's next (in real estate) | Permalink
TrackBack
TrackBack URL for this entry:
https://www.typepad.com/services/trackback/6a00d8341c51e453ef011570f1d555970c
Listed below are links to weblogs that reference Walk this way:
Comments
The more walkable a local community, usually indicates the houses are more costly.
Posted by: Toledo spray foam wall insulations | Apr 25, 2012 10:20:48 AM
I understand what are you trying to implement. I am glad you have expressed your own idea and view point about this topic. :)
Posted by: Assisted Living Facilities Seattle | May 25, 2011 11:47:52 AM
brampton real estate
One of the greatest and most obvious reasons to consider buying a home is the interest rates. Interest rates today, are some of the lowest rates that we have seen in years. It is possible that they will go even lower. You may think that getting a home loan in order to take advantage of these rates is impossible. Although credit standards and loan approval may be higher than before, obtaining a loan is well within the reach of homebuyers with a good credit rating and a steady income that can support the monthly mortgage payments.
Posted by: torontohomeandhouse123 | Jun 11, 2010 4:03:29 AM
The more walkable a neighbourhood, usually means the homes are more expensive
Posted by: Don Edmunds | Jun 4, 2010 10:56:06 AM
The comments to this entry are closed.
