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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

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The material provided here is for informational purposes only and is not intended and should not be considered as legal advice for your particular matter. You should contact your attorney to obtain advice with respect to any particular issue or problem. Applicability of the legal principles discussed in this material may differ substantially in individual situations.

While the Texas Association of REALTORS® has used reasonable efforts in collecting and preparing materials included here, due to the rapidly changing nature of the real estate marketplace and the law, and our reliance on information provided by outside sources, the Texas Association of REALTORS® makes no representation, warranty, or guarantee of the accuracy or reliability of any information provided here or elsewhere on texasrealestate.com. Any legal or other information found here, on texasrealestate.com, or at other sites to which we link, should be verified before it is relied upon.

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