Living in Lincoln Park Blog

If you have a Lincoln Park home for sale or you’re thinking about buying a home to flip it, here’s something to keep in mind: walking distance. Why? Because a new study commissioned by CEOs for Citiesshows that homes within walking distance of amenities sell for more. And after all, isn’t that a large part of the reason for living in an urban market – accessibility to all the wonderful neighborhood amenities!

More & more people are going green! More people are walking or taking public transportation whenever possible and trying to avoid driving. However, not all urban homes are convenient to the neighborhood amenities. So, if there is a Lincoln Park home for sale within walking distance to schools, parks, restaurants, coffee shops, libraries and shopping areas, it’s more likely to be snatched up…and at a higher price than other less conveniently located homes.

This is true even in the current economy. “Walk-ability,” says Joseph Cortright, the man who analyzed the data, “adds value to residential property just as additional square footage, bedrooms, bathrooms and other amenities do.”

In many places, walk-ability can lead to a sales price of as much as $34,000 more than in areas where you can’t get around without a car. Of course, this isn’t true for every city. In Las Vegas, more walk-able areas correlated to places with lower housing cost. Bakersfield, California, didn’t show any difference at all.

Why is being able to walk around such a big deal? Several reasons:

• The more walk-able neighborhoods usually have better mass transit systems.
• People living in walk-able areas generally weigh less, by at least seven pounds.
• Less money is spent on gas.
• Car owners don’t need to drive as often, and when they do, they don’t have to go as far.
• Quality of life

What does this mean for you, the homeowner? If you live in a walk-able neighborhood and have a Lincoln Park home for sale, you have an excellent selling point. Make sure you tell your real estate agent how easy it is to get around. With this knowledge, they can market your house towards all those people looking to use a little bit more leg power and a little bit less engine power. What’s your walk score?