Thursday, January 27, 2011
RECENT STUDY SHOWS WALKABILITY
ADDS VALUE TO A PROPERTY
Ceo’S FOR Cities, a national consortium of civic and business leaders, did a 2009 study and found that homes where you can walk to the supermarket and other stores, schools and parks will be valued at $4,000 to $34,000 more than those with less walkability where you have to drive to get to amenities. The bigger, more urban the city, such as Miami, the higher value walkability adds. Nearby public transportation also boosts value.
The study covered 94,000 real estate sales of comparable homes in 15 major markets.
You can use Walkscore to rate the walkability of your home or a home you are considering purchasing.