Aside from a natural luxury, walkability and location correlate highly with a price of a home. A house that is in close proximity to restaurants, shops, or cafes will yield a higher appraisal than a house of a comparable market value elsewhere. And now, what many buyers are looking at for urban homes is a tangible number; the walkability score.
A walkability score directly depends on how many places are located within a specified distance, usually about a quarter mile or one mile radius from a home. With price and location being two of the biggest factors for buyers, one can see why this score is in the limelight.
The walkability score is making an even bigger impact now days with everyone focusing on sustainability. Who wouldn’t want a location where the store is convenient to walk to, the coffee shop you can stroll to and it’s all practical for the environment?
With all those things in mind, of course Boulder holds the walkability score on a pedestal. Not surprisingly, New York City comes in number 1 for the most walkable city in the United States, followed by San Francisco on the opposite coast, and Boston in third place. Aside from these metropolis’, which are expected to be in close proximity to things, smaller urban areas like Minneapolis and Portland each yield high walk scores.
Though Boulder’s small size leaves it left off of walkable ‘cities’ lists, its residents can attest to its amble scene. Not only does it boast walkability and sustainability, it ranks notably high for its bikeability. Walking, biking or driving- regardless of the way residents physically get around, the walk score simply indicates how convenient things are located to a real estate.
Walkability and real estate; what’s the big idea? The sumptuousness of being near by to market places and businesses directly correlates to an increase in housing prices. It also provides the option of being able to walk to take care of your errands, rather than jumping in the car every time.
With high gas prices and a focus on sustainability, close proximity is a valued ability. Great for you, great for the environment, and great for the value of your house, the walk score is an important figure in real estate. Buyers can admire the structure of a home and take into consideration the number of bathrooms in the house, but the walk score has said to equal a $3,000 increase in value… wouldn’t you agree it is an influential number, as well?
Many people think about what their work commute will look like from a potential home, but really the commute anywhere should be considered. You may be close to work, but what if you are 30 minutes to the nearest grocery store? The walk score has become increasingly popular in the real estate world and you can see it becoming a staple verity on real estate websites, as well.
A high walk score can make your home experience a convenient and pleasing experience. Its positivity will reach beyond a homeowners span there, into a higher sale price when they turn around and sell it. The walk score contributes to the value of a home, and owners can see how it’s contributing to the investment, in a very good way.