Will Your New Home Have a Commute? Know the Real Cost
One of our recent posts shared some helpful tips to finding the real cost of owning a home, which you can find by clicking HERE. Our friends over at Transportation Evolved have also shared with us this handy calculator to give you a quick reference on your actual commute costs.
Without a doubt, your vehicles and your homes are the most important and foundational investments you will make. Understanding the real costs of these investments can help you take control of your budget to implement a stable financial plan.
Lifehacker provided this surprising article that explains how you could actually afford $15,900 more for a home for each mile you live closer to work. It is eye-opening to consider how travel and time really adds up over time, not to mention the time away from your family on a daily basis. A 40 minute commute one-way may not be to bad for many of us, but 80 minutes per day adds up to entire day away from your family every week. For many of us, you just cannot put a price on this.
Moving into a new neighborhood involves considering schools and safety, but our commute can have huge financial and personal costs as well.