If you’re shopping for your first home, you have many things to consider, like the neighborhood amenities, nearby grocery stores and shopping, as well as schools and parks. Have you considered the cost of commuting to work? When calculating your “homeowner budget”, don’t forget to add in the gas and wear and tear on your car(s).
Consider the Commute When Home Shopping
A recent opinion study by NAR found that 78% of people desire a commute of 30 minutes or less, making that consideration the most important in choosing where to live. Since 2004, the economy has become the top priority (84%) to 
home buyers, and other concerns have dropped in priority. 50% would rather stay within their budget, even if they could not live in their desired neighborhood, compared to 39% who would stretch their budgets.
What is an ideal community?
Recently, Americans are trending more towards buying in cities, closer to work and shopping. The suburbs are less attractive than they were a decade ago. The ideal community has a mix of houses, places to walk, and amenities within a close drive or walk.
- Nearly half of the buyers surveyed (47%) prefer to live in a city or suburban neighborhood with a mix of houses, shops and businesses.
- 40% prefer a rural or small town setting.
- Only 12 % prefer a suburban setting of only houses.
Walk Score has added a neighborhood map and commute map that helps a buyer calculate the cost of their commute, using Triple A’s estimates of .69 cents per mile.
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To Buy or To Rent…That Is The Question