Author Topic: Comparing properties - How much is free transportation worth?  (Read 799 times)

neophyte

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Comparing properties - How much is free transportation worth?
« on: February 05, 2017, 01:53:36 PM »
I'm house shopping, currently looking at 2 properties. At one property I'd have access to a free shuttle that would take me home from work and is available on-call after 6 pm to shuttle me around the neighborhood, take me home from the grocery store, etc.  It is all around more conveniently situated than the second property. The second property is probably 50-75k cheaper, but I would spend a lot more time walking and/or on public transit.  How would you weigh the added convenience of the shuttle?




redbird

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Re: Comparing properties - How much is free transportation worth?
« Reply #1 on: February 05, 2017, 03:17:01 PM »
How much time would you spend commuting for the second property? How much would it cost you for the public transit per month? You need to know the answers to those questions before you can decide.

MsPeacock

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Re: Comparing properties - How much is free transportation worth?
« Reply #2 on: February 05, 2017, 03:21:03 PM »
there are a lot of other factors that would be important to me, in addition to the transportation issue. Are you still going to need a car for other purposes? What about school quality, how much you like the neighborhood, the state of repair for the two properties, etc?

Catbert

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Re: Comparing properties - How much is free transportation worth?
« Reply #3 on: February 05, 2017, 04:12:07 PM »
50K 30 year mortgage @ 3.5% is about $225 a month.  The free shuttle might not be worth $225 a month, but your time might.   And a better located property might appreciate more.  (Location, location, location.)