Did you know that living in an amenity rich community, close to grocery stores, parks, coffee shops, restaurants and entertainment venues can actually increase the value of your home? It’s true! With more and more urbanites seeking lifestyles of convenience, studies have shown that living in close proximity to amenities makes homes more desirable.
Fortunately for residents in August at University District, this includes them! A study done by Portland, Oregon economist Joseph Cortright, analyzed data from 94,000 real estate transactions in 15 major markets and found that in 13 of the 15 markets, higher levels of walkability (as measured by a walk score) were directly linked to higher home values. If you are not familiar with walk scores – they calculate the closest amenities to an address and rank them from 0–100, with 100 being the most walkable. Communities with walk scores of 70 and above (August included) indicate neighbourhood that make it possible to live without a car and add to the value of the home.
“Even in a turbulent economy, we know that walkability adds value to residential property just as additional square footage, bedrooms, bathrooms and other amenities do,” said Cortright. “It’s clear that consumers assign a tangible value to the convenience factor of living in more walkable places with access to a variety of destinations.”
As the saying goes, location is everything.
Give us a call at 587.349.7838 or stop by and see us at the University District Discovery Centre to learn more.
See you soon!
Bre @ August