We have all heard that the top three things to consider when purchasing a home are location, location, and location. Though the preference of location can differ from person to person, location does continue to be one of the biggest considerations for a consumer when purchasing a home.
Some buyers feel that it’s important to have a good educational institution or a health facility nearby. However, most buyers would agree that access to a good public transportation system is paramount. In fact, for people who don’t own a car, the public transportation system is the only way they can go about their daily jobs.
The importance then of having access to good public transportation cannot be overemphasized. What’s the point of having a hospital, church, mall, park, or business establishment nearby if you can’t get to it?
There are millions of people who own cars but there are also millions of people who have no choice but to commute. The essence of public transportation lies in its ability to fill the needs of, and service these commuters. But even for people who do own cars, having a public transportation system nearby has its benefits. For one, it gives them an option to save on gas and parking fees especially now that gas prices have gone up.
Less usage of automobiles also has a positive effect in our environment. With the rampant pollution and the green house effect our environment is suffering from, minimizing carbon emission is always a good way to go to save the earth.
For the prospective homebuyer, there is one other factor why he should consider a house that is accessible to a good public transportation system. A good transportation system is evidence of efficient local governance. Chances are, a safe and effective public transportation system means that the local government is doing its job.
From an economic perspective, choosing a house that is easily accessible to public transportation also has its benefits. Studies point to an increase in the market value of homes once they become accessible to public transportation. For the prospective homebuyer, this equates to profit should the house be put up for sale. There is also a lower rate of foreclosure in homes that are located in areas accessible to public transport. One possible explanation for this is that homeowners are able to spend thousands of dollars on gas and car maintenance.
So if you’re in the market for a new home, make sure it’s accessible to public transportation. You will surely reap the benefits for many years to come.
This individual has been blogging on public transportation for the previous five years. Furthermore, this individual likes blogging regarding New York City real estate subjects, including Greenwich Village apartments along with Gramercy Park apartments.