While showing homes to buyers, thisquestion is popping up more and more: œWhat is within walking distance?
Home buyers are now looking for walkability, and they are willing to pay for it, according to a recent study. This change in attitude represents a major shift in priorities evolving over the past 20 years. Young adults are in the forefront of the change. Their parents left the high density of the city for a quiet suburban life of Andy of Mayberry. They were raised on œFriends and want the life Chandler and the gang enjoyed at the Central Perk.
Real estate valuation has followed, with high square footage costs moving from the suburbs to cities. Currently, the most valuable real estate in Denver can be found in walkable areas such as Wash Park, Sunnyside, Highlands and Cherry Creek. Rising gas prices have also played a role, but more importantly, it's the desire of people to be part of a community. The idea of commuting is no longer as appealing as walking to work, then heading to local restaurant to meet friends for happy hour.
Many home buyers are also concerned with finding a home that will hold it's value. Walkable properties have the greatest chance of holding and rising in price in the years ahead. Our website has a great feature that gives every property a Walkscore, making it easy to determine which home is a fit for your busy lifestyle!
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