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4
The Impact of Commute Time
So you've found the perfect home, with everything you're looking for—only thing is, it's quite a few miles outside of town. But a longer commute is a fair exchange for more acreage, more square footage and that roomy kitchen, right?
Not so fast. The negative impact of a long commute may outweigh the positives of that serene country setting. Studies show that commuting consistently ranks at or near the bottom of activities that bring us happiness. Those who commute alone in a car (at the mercies of daily traffic uncertainties) may feel isolated and powerless, with not enough time for socializing, exercise and sleep.
Across the U.S., the mean home-to-work commute is 25 minutes, but the number of people with "extreme commutes" of more than 90 minutes each way continues to grow. That's because many buyers are willing to commute further for a job if it means paying less for a house.
Your daily commute is an important aspect of choosing a new home. Half of all respondents to a recent National Association of Realtors survey cited the importance of being close to their job as the biggest factor in choosing a neighborhood. The details of your commute—where you and your partner work and how you get there each day, whether it is by car, bike or public transportation—should be part of your initial conversations with your Realtor.
And a commute can't be evaluated by number of miles between destinations alone. Take into consideration traffic patterns, construction projects, and proximity to interstates. With those variables, a 15-mile distance could easily turn into a one-hour commute.
Every extra minute saved could be worth thousands in the long run. The New York Times recently used sales price data to figure the answer to this question: What's a minute spent commuting worth to home buyers? Not surprisingly, they found that homes with longer commutes generally sell for less money.
Another consideration impacting home buying decisions is the school district. For information or professional assistance with your home buying plans, please contact your local Cutler Real Estate office.
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