Homebuyers, Paying the Premium for City Living & Amenities...

WALKABILITY…. Great Desire for Home Buyers!

First Time Home Buyer Questions, Latest News, Market Updates and Trends on August 15th, 2012 No Comments

Coffee shops, restaurants, concert venues, recreation, and shopping are only some of the reasons behind this uprising, recognized trend for home buyers.  “WALKABILITY” has a whole new meaning and statistics to support it.  It’s simple… home buyers are seeking amenities – now more than ever.  After 3 years of living in Minneapolis, I’ve seen (and heard friends talk) about their search for a new home to buy or rent and wanting to be within the city… within walking distance to their favorite hangouts or lifestyle choices.  Then I realized, I’m the same way ~ I can’t seem to give up myBike Walk Minneapolis residence along the St. Louis Park-Minneapolis Green Way…. it fits my lifestyle perfectly and gets me  to Uptown in 5 minutes!

In 2012, the Warehouse District was 39% more expensive than purchasing in Savage.  This isn’t only happening in the core of the urban community.  Wayzata is now the most expensive location to live within the Twin Cities, popular for it’s beautiful, downtown walkability!  Having a high walkability score adds great value and people are willing to pay for that convenience and the character a walkable downtown brings.   Many have attributed the changes to the sharp increase in gas prices and/or the economy for this change.  Data actually points to people wanting to save money as an important factor on where they choose to live, but the data also suggests that people want to be near walking or biking paths so they can get more exercise.  Check out the full article from the Star Tribune.

Written By LaTasha Schenfisch

 

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