If you have a Santa Cruz home for sale or you’re thinking about buying a home to flip it, here’s something to keep in mind: walking distance. Why? Because a new study commissioned by CEOs for Cities shows that homes within walking distance of amenities sell for more.
Environmental concerns are rising. More people are walking whenever possible and would rather walk than drive. They’re also becoming more environmentally conscious, as well as health conscious. If there is a Santa Cruz home for sale within walking distance to schools, parks, restaurants, coffee shops, libraries and shopping areas, it’s more likely to be snatched up.
This is true even in the current economy. “Walk-ability,” says Joseph Cortright, the man who analyzed the data, “adds value to residential property just as additional square footage, bedrooms, bathrooms and other amenities do.”
In many places, walk-ability can lead to a sales price of as much as $34,000 more than in areas where you can’t get around without a car. Of course, this isn’t true for every city. In Las Vegas, more walk-able areas correlated to places with lower housing cost. Bakersfield, California, didn’t show any difference at all.
Why is being able to walk around such a big deal? Several reasons:
• The more walk-able neighborhoods usually have better mass transit systems.
• People living in walk-able areas generally weigh less, by at least seven pounds.
• Less money is spent on gas.
• Car owners don’t need to drive as often, and when they do, they don’t have to go as far.
What does this mean for you, the homeowner? If you live in a walk-able neighborhood and have a Santa Cruz home for sale, you have an excellent selling point. Make sure you tell your real estate agent how easy it is to get around. With this knowledge, they can market your house towards all those people looking to use a little bit more leg power and a little bit less engine power. What’s your walk score?
If you’re trying to sell your home, or looking for a home in a walk-able neighborhood, I can help. Call me at 831.662.6522 or email me at lauren@laurenspencer.com for more information.
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