Why You Should Buy in a Walkable Neighborhood
Neighboorhood Trends for
Home Buyers in Silicon Valley
If you are tired of slow public transportation, endless traffic jams and driving around for anything you need, you are ready to live in a walkable neighborhood.
In a recent survey by the National Association of Realtors, 60% of the respondents said they would prefer to live in a neighborhood with a mix of houses and businesses that are within walking distance.
For the record, a walkable neighborhood is often described as a mixed-use neighborhood with close access to entertainment areas, public transit, and job centers, all without having to rely on a car.
How do you know that your neighborhood is walkable?
The number one thing you should find in a walkable neighborhood is a center, whether it is a main street or a public space. You should also find at least one of the following:
Mixed-use places including affordable housing and businesses
Public transit that runs frequently
Parks and public/community space
Schools and workplaces
Bicyclists and streets designed for pedestrians
The benefits of living in a walkable neighborhood
Home Value: There is no doubt that walkability is a critical factor in raising home values. In a recent study by Zillow which estimated the “Walk Score” (0 to 100) of homes in the top metropolitan markets in the US, it was estimated that a high walk score increased home values by an average of about 12 percent.
Personal Health: The average resident of a walkable neighborhood weighs 6-10 pounds less than someone who lives in a sprawling neighborhood.
Environmental Impact: The carbon footprint of a walkable neighborhood is on average lower due to fewer CO2 emissions mostly from cars. That is because residents don't need to drive as often and can frequently drive shorter distances when they do.
Over the past few years, walkability has become a big draw for many buyers in Silicon Valley increasingly conscious about environmental impact and looking for pedestrian-friendly areas. Don't pass on making a positive impact on our planet and your health!