Proximity Is Viability
One of the primary considerations, when home buyers look for a property, is its proximity to all the comforts that modern living has to offer. Commercial areas including malls, restaurants, cafes, pubs, and other venues for recreation become foundations for a potential buyer’s final decision to buy a home in a suburb or any other place of residence.
But what really makes the property viable in light of its proximity to the commercial area is its walkability.
Sure, we can assume that people who would be buying properties in suburbs have their own means of transportation or that they would not mind taking any public means. However, we must admit that the property and its to-be owners would be so much better off if they were within walking distance from everything they need. This will save them time, money, and effort to run personal errands, allowing them to spend more time on things that matter more.
Hence, the importance of Walk Scores.
What Exactly is a Walk Score?
A Walk Score pertains to how a property is walkable to nearby amenities. Aside from this, the property’s accessibility to pedestrians, visitors, outsiders, and commercial traffic is also factored into the Walk Score.
The high numerical value of a property’s connectedness to life’s conveniences lies at the core of a good Walk Score. This metric bears a total of 100 with a turnout of 90 and above being desirable for property owners looking into selling or leasing their homes.
Elements Integral to the Calculation of Walk Scores
Population Density or the concentration of individuals in a certain locale and road metrics including block length and Intersection Density or the number of intersections in an area is integral to the calculation of a property’s Walk Score. The latter is a pertinent consideration as it looks into how one’s property is situated near intersections and provides information about the area’s street design which affects walkability.
The Score: What Each Rating Means
To know what your Walk Score is worth, below is a table that describes each score:
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Other Notable Advantages
A Walk Score is of great importance as these also contribute to a property’s market value. But apart from this, a good Walk Score reaps other advantages for both the homeowners and its surrounding areas.
An article published by Real Estate.com.au stipulates that when a property is easily walkable from a residential area, the benefits are manifold. Apart from what was already stated, it contributes to environmental protection and reduces the costs of private and public transportation. Thus, a property’s walking score is multi-faceted and does not just benefit the homeowners but also the environment, thus augmenting a home’s actual value.
But for a more holistic evaluation, there are still some things that a walkability score needs to take into account. Elements such as pedestrian thoroughfare maintenance, overall safety, and weather need to be considered as well.
For this cause, the Environmental Protection Authority (EPA) developed the National Walkability Index (NWI). The NWI colour-coded walkability to show how near specific streets are from highly walkable zones.
As this is the case, while some areas may have a low walk score, the NWI may give it a higher score in light of its nearness to other walkable zones.
Settling The Score: The Takeaway
If you are thinking of buying a property or are already a homeowner but would want to know what your Walk Score is, you may calculate it through various Walk Score calculators that are available online. Some of the most notable examples are from Covetool.com and Google Maps.
Knowing your property’s Walk Score is crucial for individuals who want to make an informed decision in buying their first property, may it be for residence or investment. It may also be of importance for those who already own their property but would want to know how much it could be worth if they were to put it on the market.
In general, knowing your home’s walkability score is essential as a homeowner for a holistic knowledge of your personal investment. If your property comes close to having a “Walker’s Paradise,” rate, then you have struck gold. But if your home gets a score that leaves a lot to be desired, there is no need to fret. There are other things that you can do for your property that could increase its value.