High gas prices are causing home buyers to live closer to work. That means many buyers are moving closer to town and getting away from the long drive from home to work. For Realtors, this means many properties will sell better than those farther from the city or town.
Home buyers have been making the trade off for years - the further away from metropolitan areas a home is located the cheaper it is likely to be. Consumers have been willing to exchange time for money, frequently commuting 30 to 60 miles each day between a nice home in the suburbs to their job in the city or in another far-flung suburb.
Home buyers will find the price/commute trade-off is no longer feasible. This could drive down the price of housing in far-flung suburbs and put an additional premium on homes that are close in or with access to public transit systems.
With these high gas prices, many home buyers are really putting an emphasis on location. Living closer to work will save you money in many different ways. You can ride your bike or even walk to work if close enough, which will help you use less gasoline. It would also help save money on eating out for lunch as much. Many people who live close to work can go home and make lunch with the food bought at the grocery store, which is a lot cheaper than eating out.
It is amazing how gas prices can effect many aspects of some one's life, including home buying.
This message was brought to you by your Columbia Mortgage Broker:
Professional Mortgage Group, Inc
3610 Buttonwood Drive, Suite 200
Columbia, Mo 65201
573-777-1198
Questions and Comments are welcome
Home buyers have been making the trade off for years - the further away from metropolitan areas a home is located the cheaper it is likely to be. Consumers have been willing to exchange time for money, frequently commuting 30 to 60 miles each day between a nice home in the suburbs to their job in the city or in another far-flung suburb.
Home buyers will find the price/commute trade-off is no longer feasible. This could drive down the price of housing in far-flung suburbs and put an additional premium on homes that are close in or with access to public transit systems.
With these high gas prices, many home buyers are really putting an emphasis on location. Living closer to work will save you money in many different ways. You can ride your bike or even walk to work if close enough, which will help you use less gasoline. It would also help save money on eating out for lunch as much. Many people who live close to work can go home and make lunch with the food bought at the grocery store, which is a lot cheaper than eating out.
It is amazing how gas prices can effect many aspects of some one's life, including home buying.
This message was brought to you by your Columbia Mortgage Broker:
Professional Mortgage Group, Inc
3610 Buttonwood Drive, Suite 200
Columbia, Mo 65201
573-777-1198
Questions and Comments are welcome
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