Friday, June 14, 2013

The To-Do About Transit

June 2013

The To-Do About Transit.

If you're in the market for a new home, or even if you're reflecting on your current dwelling, chances are you have your list of 'musts.' Recent studies from the American Public Transportation Association (APTA) and the National Associatoin of REALTORS® are refreshing the meaning of the age-old mantra, "location, location, location".

The bottom line is this - homes that are located closer to public transportation tend to maintain their value better than those that are located in other, less walkable areas. Of course, the type of transit available does have an effect on the values as well. Previous research by the APTA has shown that homebuyers are willing to pay a bit more for a property that's located within walking distance of public transit. That's great news if you're looking to sell a home in such a location.

If you're in the market to buy, consider this research to be a tip on how to retain your new property's value in the years to come. Walkability is a very desirable trait to many home buyers, mainly because of the proximity to schools, shops, libraries, restaurants and transportation. View the complete APTA study here.