When You Choose A Home Walkable From Your Workplace
Areas that provide you the luxury to be able to walk within important junctures of your city do come at a cost, something which would certainly not fall in the category of affordable. You will have to pay a premium and may have to compromise on square foot ─ a 1BHK in an area lying close to the city may cost you much higher than a 3BHK in the periphery. You may also find it hard to get a new construction in such areas; these are the areas that flourished during the early years of your city's development and mostly house old buildings. Despite all the shortcomings, having a walkable home still makes perfect sense if you are able to afford this luxury.
Saving in the long run
A significant part of your income may be spent in daily travelling in case you live in the suburbs, which are not well connected through an efficient public transport system. In this case, you will have to depend entirely on your personal vehicle to move from one place to another. Even if you do not mind the spending, you would certainly mind the time you will be forced to spend, stuck in traffic jams on a regular basis. Not to be taken lightly is another fact ─ you are also adding to the rising pollution levels of your surroundings. Because of the absence of a robust public transport network, all members of your family will sooner or later have to buy a car. These additional cars would need additional parking spaces, for which you may have to pay additional money to your housing society. The affordable home may soon cease to look affordable in light on these developments. In case you invested in a home which is a walkable distance from all the key areas of the city, you will be spared all that trouble, apart from helping your city bring down its pollution levels.
Always in demand
Let the fact that such a house would have a better resale value lessen any possible pangs that might arise because of the big ticket-size of the investment. One cannot say the same about an affordable home with the same certainty. Even if you move to another place and rent this property out, you would be earning much higher rent. Rental values of homes in the suburbs would always be comparatively much lower.
Freedom to stay late
You came to attend a party in the central business district. Because your home lies at the far end of the city, you have to hurry back. In fact, you will also not be able to give longer hours to your job because the travel back home would mean you spending 15 hours outside of your home in case you have to do a 12-hours shift. (We are factoring in one and a half hours of up and down travel here.) Those whose offices are close to their homes can do a 15-hour work shift by staying off for 15 hours outside of their office. Because you are easily available, your senior would tend to depend on you more. Who would have thought that having a house in the city centre would be beneficial for one's career growth, too?
The great speared
Apart from better access to the job market, you, as the resident of a walkable home in the city centre, also have easy access to a well-established social and civic infrastructure. Those living in the periphery often have to wait for a long time before they are able to enjoy a well-developed social-civic infrastructure. In the meantime, they have to tolerate the many disturbances that would come their way — for instance, if a Metro network is being developed in your area, you may have to take a detour to complete your daily journey to office. While a mall is being constructed, you have to breathe in a great amount of dust that is flowing around, covering your area like smog.