How much is a shorter commute worth to your clients?

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08/24/2016 | Author: Editorial Staff

You might dread your morning commute, but would you rate it as the worst part of your day? A survey of 900 Texas women about what made them happy found just that: Their morning commute was the least enjoyable part of their day—even lower than housework or work, itself.

The study’s authors, Princeton professors Daniel Kahneman and Alan B. Krueger, suggested that reducing the amount of time spent commuting alone could have a beneficial effect on emotional well-being, but it could also pay off in more tangible ways, as well. 

According to NAR’s 2015 Profile of Home Buyers and Sellers, 30% of homebuyers found commuting costs to be very important to their decision to buy a home. While there might be tradeoffs to considering a home with a longer commute—more space or a preferred school district—your clients should be aware of the transportation costs, time spent, and emotional toll associated with commuting in order to make an informed homebuying decision.

Categories: Buyers
Tags: buyers


Comments

Mark McNitt on 08/24/2016

On the HAR.com site, there is a feature on every listing called “Drive Time” that allows the consumer (and Realtors) to see real commute times from the home to another location such as work or school.  You can adjust the times your driving as well.  Seems fairly accurate and can help a client determine if an area will work in regards to commuting.  There is always a trade off in regards to location and some clients I have found will pay more to shorten their daily drives.


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