Factoring location costs into homebuying decisions
It’s a bit of a conundrum. On one hand, homebuyers are looking for walkable neighbourhoods with amenities nearby. Yet in many cities, finding a family-friendly home within budget often means choosing a lower-priced housing option in car-dependent suburbs or bedroom communities.
But what happens when you factor in the cost of commuting and other location-related factors for a house purchase?
Location Matters, a report from the Pembina Institute, looks at four case studies from the Toronto area. It considers the costs and benefits of various home locations, taking into consideration factors such as home price, transportation costs, commuting times, walkability and livability. The result is a quantitative illustration of what location costs mean for homebuyers.
Download report [pdf]