What Does A Walkscore Mean In Real Estate?
It's healthy, green, in fashion and could increase the resale value of your home. Just how walkable is your neighbourhood? Walkability has become a buzzword in real estate, as environmentalists and "green" planners advocate compact residential neighborhoods near businesses and public transportation. And some realtors say in this difficult market, houses with high walkability scores are easier to sell: Owners can save money by walking to mass transit and by using less gas when running errands.
Although the idea of a compact town center is not a new one, walkability has become easier to quantify, thanks to Walkscore.com. The website's algorithm takes a previously subjective idea and boils it down to a single number. Now online real estate sites, such as Zillow are beginning to add walkability ratings to their home listings.
When people live in a walkable neighborhood, they save a lot of time and money that they would otherwise be pumping in their gas tanks. On a larger scale, people who walk more and drive less have a smaller carbon footprint. And the exercise tends to keep them in better shape.
Walkscore.com calculates walkability by awarding points for amenities - such as a restaurant, store, park, school, or library - within 1 mile of an address. The number of points depends on the closeness of the amenity, with the most points awarded for those within a quarter-mile.
Click this link to Get your walk score here»