Commute vs. Home Price Trade-Off: How Far Are You Willing To Drive? Author: Windermere Eastside, reposted by Caleb Jessup x Windermere
Would you be willing to swap a longer commute time for a lower monthly mortgage payment? With prices of homes near city centers skyrocketing, many buyers are rethinking their priorities and choosing to “keep driving until they can afford it.”
Housing Search Trade-Off: Price vs. Commute Time
We examined active listing on the Northwest Multiple Listing Service and their drive-time proximity to downtown Seattle. Looking at homes within a 30-minute radius from downtown, the median home price was $1,612,500. Homes located within a 31 to 60-minute commute from downtown had a median price of $890,000–that’s 45 percent less. This means if you are willing to commute over an hour, the price of the average home in the area would be $1 million less than if you lived close to the city.
Search for Homes by Commute Time on Windermere.com
The Drive Time Search function on CalebJessup.com allows you to customize the search criteria with your work address, time of day that you commute, and maximum amount of time you want to spend driving to and from work. The results will exclusively show homes for sale within your preferred drive time.
Posted on July 16, 2018 at 7:48 pm Caleb Jessup