If you are a buyer in the market for a new home, have you wondered whether living in the suburbs or a more rural area is more affordable than living close to the city?
Hi, I’m Tanja Odzak, eXp Realty, I help people sell and buy homes right here in the East Bay!
Well let’s break it down as the answer may shock you. While most urban dwellers assume that moving to the suburbs or rural area may offer more space and affordability, that is not always the case. According to Hannah Jones, chief economic analyst at Realtor.com, “While buying in the suburbs may translate to savings on housing, it is also important to consider the whole picture if you are hoping to make a money-saving move.”
In fact, Realtor.com listing data is showing that 65 of the 100 largest metro areas nationally were more expensive than urban homes. This is because there may be some hidden costs associated with suburban and rural living that as a buyer you are unaware of.
So, what may some of these costs be? One big cost is commuting. It is important to factor in your commuting costs if your job is in the city and you are 30 minutes out in the suburbs. Accounting for gas, parking, tolls, BART, or your favorite public transportation is crucial as these costs can add up monthly.
Or what about entertainment? Suburban areas often do not offer as much entertainment and you need to travel to more urban areas for any kind of entertainment which means higher gasoline prices and wear and tear on your vehicle.
Or maybe you are moving further inland with a hotter microclimate during the summer months. This may mean an increase in your monthly utility bills. And finally, maybe the larger house your eyeing in the suburbs comes with more costly repairs due to its size.
These are all things to consider when deciding as a buyer where to buy and what your budget can really afford. It is best to always look at the whole picture as you make this very important investment decision.
If you would like more information on East Bay housing data, Call me today and let’s talk about it. I’m a seasoned East Bay expert with a 5-Star rating. I’ll help you navigate the market and make it happen, whether that’s selling or buying or both!
And if you or someone you know needs to sell a home, ask me about my home-selling plans.. I took the pain out of negotiating with a Realtor and made it SUPER simple. Really! Choose Silver, Gold, or Platinum- Pick your Plan and Pick your Price. Terms do apply. I’m Tanja and I sell homes. Let’s get you going, Call me today!
I’m a Top Producing Realtor® in the OAKLAND / BERKELEY / EAST BAY AREA. I’ve been in the San Francisco East Bay Area since I came up to do my undergrad at UC Berkeley (a long time ago!), with a short stint at UC Davis while getting my Master’s. I take my duties as a Realtor® and Fiduciary very seriously, I enjoy educating my sellers and buyers along the way. Putting People, Before Profit.
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