Is Walkability an Important Consideration in Regards to Your Residence?

[BristolCavendish]

Walkability as in ease of access to simple errands, grocery stores, public schools/libraries et al. Visited the in-laws who reside in the SF mid-peninsula over the weekend and they mentioned that the local RE agents are now promoting this feature/benefit as an additional 'come-on' and reason for jacking up suburban home prices even more. Then again, this feature is only attractive in the safer/nicer neighborhoods where homes are running anywhere from $2.5M and upwards.

Living in a rural area of Marin, we have to use the car for just about everything and excursions on foot are pretty much limited to 'nature walks'. While the relative seclusion is appealing on its own accord, mundane chores like shopping errands usually have to be better planned/thought-out and during the heavy rainy season, anything requiring an outdoor run is usually a total drag.

I imagine that city-dwellers have a lock on this kind of convenience but in many instances the mass congestion of humanity can be unappealing in and of itself. SF like many urban areas, can be a fun place to visit/dine but I wouldn't want to live there 24/7/365.

The parent in-laws are considering a move to an assisted-care facility and have offered their home to Mrs. BC as an inheritance. In CA back around 1978, Proposition 13 limited property taxes to their assessed value at the time and this tax break can be 'grandfathered' in when/if the residence is passed down to their children. As a result, the property tax on this now $4M home is still based on its appraised value from 1978. In this particular neighborhood, some of the newer homeowners are paying $40K+ while the older residents are 'locked-in' at around $7500 per year. Pretty good deal as this proposition was enacted to curb government spending waste as well as protect seniors living on fixed retirement incomes.

Currently pondering a relocation but really enjoy the relative seclusion of rural Marin County. Another viable possibility would be to keep it as a secondary residence or perhaps rent it out given the existing housing crisis in Silicon Valley. Being a 4BR/2.5B house in a desirable neighborhood, it would probably fetch around $5K+ per month. Times have changed and I still remember when that amount of money per month was a mortgage payment.

[beshannon]

No

[Abdullah71601]

Does it have lemon trees?

[Lamone]

Yes, to me walkability is critical factor.

[tyler1980]

yes it is. Haven't needed a car going on 6 years now. If i had one i wouldn't bother using it.

[SearChart]

I chose the studio/apartment that I rent specifically because it is close to school, a bus stop and the grocery store.

[Chiboy]

I love living in a suburban Chicago village and being able to walk to the library, bank, post office, barber shop and "downtown" restaurants. I bike to Whole Foods 90% of the time.

All of these are within a mile of our house, but I bet 90% of neighbors don't do that. I like it, but it's not as though I don't need a car.

[jhilly8982]

Wouldn't a $4mm house fetch alot more than $5k per month? A mortgage payment on that would be around $18k.

Also, check what the tax grandfather laws say about homes that are not homesteaded, meaning not your primary residence.

[BristolCavendish]

Originally Posted by Abdullah71601

Does it have lemon trees?

You and your lemon trees Abdullah71601. Yes, there is a lemon tree but it is in the back yard, far removed from random pickers.

Originally Posted by jhilly8982

Wouldn't a $4mm house fetch alot more than $5k per month? A mortgage payment on that would be around $18k.

Also, check what the tax grandfather laws say about homes that are not homesteaded, meaning not your primary residence.

If rented out, the primary duties would probably be relegated to a property manager. As far as mortgage payments, the house was paid off 30+ years ago and I have no idea what they would be today or what the current residential rental rates are. Was just thinking in terms of 'ballpark figures'.

I have enough fiscal challenges dealing with my own mortgage.

[Abdullah71601]

Originally Posted by BristolCavendish

You and your lemon trees Abdullah71601. Yes, there is a lemon tree but it is in the back yard, far removed from random pickers.

That's important for those of you with random gangs of fruit pirates roaming the streets.

My house is 15 miles from town. Only the deer bother my pear trees. I will gladly have peace, quiet, and random wildlife in the yard over the convenience of a walking distance shopping outlet.

[ejvette]

When we bought our place in FL last year that was a huge factor we can walk to 8 restaurants and various shopping.

[Tony64]

Originally Posted by Abdullah71601

That's important for those of you with random gangs of fruit pirates roaming the streets.

My house is 15 miles from town. Only the deer bother my pear trees. I will gladly have peace, quiet, and random wildlife in the yard over the convenience of a walking distance shopping outlet.

Right there with you on this one. Proximity is nice, but "walking distance" (at least as I'd define it) is a negative - not a plus - for all the reasons you mentioned.

Sigh... Maybe if I were younger and more sociable...

[jhilly8982]

Originally Posted by BristolCavendish

You and your lemon trees Abdullah71601. Yes, there is a lemon tree but it is in the back yard, far removed from random pickers.


If rented out, the primary duties would probably be relegated to a property manager. As far as mortgage payments, the house was paid off 30+ years ago and I have no idea what they would be today or what the current residential rental rates are. Was just thinking in terms of 'ballpark figures'.

I have enough fiscal challenges dealing with my own mortgage.

Yeah, that's my point, you won't have a mortgage payment but rents trend to what a mortgage payment and property taxes typically would be. I'd say in some areas much more than that.

[austinp]

My next house will be walking distance to things.

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[Wesley Crusher]

If moving to a more densely populated area means that we will see an increase in your threads about odd encounters, then yes, I think you should move.

[BristolCavendish]

Originally Posted by Wesley Crusher

If moving to a more densely populated area means that we will see an increase in your threads about odd encounters, then yes, I think you should move.

Think I'll take that one under advisement WC. Don't really need to generate any more scorn from the 'haters'.

[jschmidtdmd]

It is very important to me. I love parking my car for the weekend and walking to restaurants and bars etc. It's the main reason I won't sell my home.

[tng11]

Yes, it is extremely important for me. I love being able to walk to work, the gym, my favourite bars, restuarants, shops, etc. With a bike, I can virtually access 99% of the places I would ever want to go to here. Driving in the city would drive me nuts with how bad traffic is these days, and public transport here is also a complete joke - I'd much rather live in a smaller space than moving out to the suburbs into a house.

[Bob the brush]

I have lived off the beaten track, having to use car to go anywhere or get anything, and I loved it for a short while, then it really started to bug me. I now live in a very nice part of city, where all shops restaurants, theatres, banks, schools are within a 10 minute walk, and I have lived here for 7 years and would not change back. I need a van for my work, but once I retire, which hopefully will be the end of 2018, the van will be sold, and I will walk and use public transport, should I need a car for any reason I will hire one!

[gulfstream69xr7]

There isn't another stricture within 500 feet of my home. Closest thing is a small airport resort. Walking is for leisure only. I have no neighbors. It is essentially my wife and I, and the wildlife. Would not want it any other way.

[rr-nyc]

I'd never live in a place where I gave to drive everywhere.




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[swils8610]

Not for me at this point.


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[superdog]

It is important to me.

I don't currently have the ability to walk to shops, but we walk the dogs a lot and we have nice tiny little pond that we walk around.

I wish we could walk to a "town", but that is not an option.

However, having some ability to walk around is very important to me.

[SDRider]

I bought my home 18 years ago and no, it wasn't a consideration. We have shopping (for groceries and other necessities within 2 miles of our house but it is very hilly where we live so I rarely ever walk to get groceries (although, I have done this from time to time).

We pretty much drive everywhere. One exception was when I worked about 9 miles from home and I commuted a couple days a week by bicycle.

[Alexwwjd]

I would love to have an apartment with the walkability feature but then I would have to sacrifice some of the benefits of a suburban/rural area. I don't mind driving 1.5 miles to the closest convenience store. So I would say no.

[fusionstorm]

Where do the parents' in-law currently reside? I'd happily lease a $4M home in the Silicon Valley area for $5K/month, then turn around and sublease it for more.

[BristolCavendish]

Originally Posted by fusionstorm

Where do the parents' in-law currently reside? I'd happily lease a $4M home in the Silicon Valley area for $5K/month, then turn around and sublease it for more.

Old Los Altos. About a 10 minute walk to downtown (supermarket/pharmacy/restaurants etc.).
A secluded park for kids and dogs + some boutiques and an independent Porsche repair shop that has been around since the days of the Speedster. The Rolex AD closed shop about 10 years ago.

I don't find the town particularly interesting but it is a good neighborhood with excellent schools. A lot of old-timers in their 80s-90s still reside here although many have moved-on, giving way to a younger demographic.

When it comes to current mortgages I hadn't a clue. Turns out that some of the newer residents here are paying anywhere from $28K-$35K per month (with the possible exception of wealthy Asian homebuyers from overseas who often pay CASH for their homes). They can seemingly outbid anyone if they want the property bad enough. It's the sign of the times in this particular region.

If the parent in-laws don't need the resources (and it appears they don't) for assisted-care living expenses, it might be worth holding on to this property as it will only increase in value. Or so it seems.

[fusionstorm]

Originally Posted by BristolCavendish

Old Los Altos. About a 10 minute walk to downtown (supermarket/pharmacy/restaurants etc.).
A secluded park for kids and dogs + some boutiques and an independent Porsche repair shop that has been around since the days of the Speedster. The Rolex AD closed shop about 10 years ago.

I don't find the town particularly interesting but it is a good neighborhood with excellent schools. A lot of old-timers in their 80s-90s still reside here although many have moved-on, giving way to a younger demographic.

When it comes to current mortgages I hadn't a clue. Turns out that some of the newer residents here are paying anywhere from $28K-$35K per month (with the possible exception of wealthy Asian homebuyers from overseas who often pay CASH for their homes). They can seemingly outbid anyone if they want the property bad enough. It's the sign of the times in this particular region.

If the parent in-laws don't need the resources (and it appears they don't) for assisted-care living expenses, it might be worth holding on to this property as it will only increase in value. Or so it seems.

Los Altos? I'll slum it there for $5K/month........

[BristolCavendish]

Originally Posted by fusionstorm

Los Altos? I'll slum it there for $5K/month........

You don't have to 'slum it'. Piedmont, CA (IMO) is one of the nicest neighborhoods in Alameda County, perhaps the best. I recall heading out that way a few years back for a 'deck party' and it reminded me a lot of Woodside, except a bit cooler temperature wise during the summer months.

[GB-man]

Tough call. Generally no although I am an avid proponent of location is the first and nearly only consideration when shopping for a home.

Also it's freezing cold here for several months a year so cars are really a must.