Finding the ideal home in Philadelphia can demand a significant amount of time, with all of the research, finding what truly works for you. One property aspect that is growing in popularity again is a walkable property. As you see, while you are browsing and researching possibilities, you might start to consider searching for a walkable home. But is a walkable home truly right for you? Yes, the thought of walking to your favorite spots sounds ideal, but what is the full picture of choosing to live in a walkable location?
What Should Buyers Consider Before Moving to a Walkable Neighborhood in Philadelphia?
Benefits of A House in a Walkable Location
Saving Money on Some Costs of Living: If you live in an area with several amenities a short distance from your home, you can reduce transportation costs, which have increased significantly over the last few years. You can save on parking fees, train tickets, bus tickets, and even gas prices, though those are coming down.
Health and fitness: easily getting more steps in a day because you are taking the time to walk to places you go frequently is a great way to benefit your health without even, or barely even, realizing or thinking about it. Before you know it, you have logged in more than 10,000 steps just by living your daily life.
Get things done more easily: instead of having to fight traffic or perfectly time out and schedule getting errands done in between work and other appointments and commitments, you can take a few minutes to walk to whatever you need to accomplish in your day. It is more easily fit in and takes less time compared to having to hop into a car or work your errands around public transportation schedules.
Sense of community: getting out into society and seeing other people walking around and going about their day helps to increase your sense of well-being and feelings of community. Whether you interact with other people walking down the street or not, it can still enhance your overall sense of mental well-being and feel like you are part of a thriving community. Though it is good to brighten someone’s day with a smile or hello once in a while, to increase your quality of life.
A few drawbacks of walkable areas
Increased price: the cliché location, location, location when it comes to real estate is not just a saying. The location of real estate plays an incredibly huge role in the market value of the property. Properties that are close to things and make certain aspects of life easy and convenient will increase the fair market value of a property. This means that a condo in Rittenhouse Square is gonna command a higher price tag than one out in a mainline suburb.
Fewer options: the more walkable the neighborhood, the more bustling and compact, and densely populated. It is going to be. This translates to fewer options in housing. Especially in urban downtown cores in the most walkable locations of Philadelphia. You are subject to more expensive multifamily properties like townhomes and condos. It is harder to locate a single-family property, and multifamily properties with shared walls can even bring a price tag higher than some single-family suburban properties.
Noise: Because there are amenities nearby, this means there are more people nearby as well. This means that there’s going to be more noise from people rushing around to desirable hotspots and for extended hours of the day. If you are someone who wants peace and quiet, picking something a little bit further out from the most walkable of areas is probably a good idea.
Having an expert Philadelphia real estate agent on your side will help you navigate if finding a walkable home in Philadelphia is the right fit for you. They can even help you to find the best prices and negotiate the best purchase terms.
If you are ready to begin searching for homes in Philadelphia, I am happy to help. I am the team at Victory Real Estate is highly experienced. We are a boutique Philadelphia real estate agency dedicated to the specific needs of every client.
“Leron is very helpful with answering my questions and is very patient with addressing my concerns. It was nice to have someone who cares very much of his customers.”-review of Victory Real Estate verified by a realtor.com