How Gas Cost Affects Affordibility
With gasoline at $3.75 a gallon or so, astute home buyers are considering transportation costs as part of their cost of home ownership.
I am currently working with a past repeat client who works in downtown Boise and would like to move from their present Meridian subdivision and have a little more land.
In their price range, that probably means considering an outlying area like Nampa, Star, Middleton, or Kuna.
Buying a home in one of those areas would more than double their commute costs.
Not to mention that their commute time would also more than double.
Combined, those two factors are deal-killers.
I think those considerations are likely contributing to the slower sales pace in outlying areas these days.
hmmm . . . I wonder how long it will be before federal lending guidelines require lenders to consider commute costs as part of loan qualification?
October 31st, 2012 Posted in Inside Real Estate
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