If you are talking about buying a Louisville home and mention the word "score," most people assume you are talking about a credit score. But there is a new score that is influencing where people are buying homes: the Walk Score. Not sure what that is? Keep reading!
Walk Scores have been making their way onto listings across America, but many still do not know exactly what it is. A Walk Score rates how well you can get around an area on without transportation. The higher the score, the less you would need to depend on a motor vehicle for your every day needs. The score is based on schools, parks, public transportation and shopping being within a one mile walking distance of a neighborhood.
Louisville has almost 20 neighborhoods with a Walk Score of 70 or higher! The highest score goes to the Central Business District with a 93. Popular neighborhoods like Old Louisville, The Highlands and Cherokee Triangle all have a Walk Score in the mid- 80's. If you think the Walk Score is only important to new buyers, you might be surprised what it means for a seller!
A recent report looked at how the Walk Score might affect home prices. The results were a little unexpected. For a one point increase in a neighborhood Walk Score, there was a resulting increase in home values of $500-$3000.
Houses located within walking distance to basic amenities are becoming more and more in demand. Growing environmental concerns are causing more people to rethink the way they live. Add to that the financial savings in not being dependent on a car and you can see how attractive these walking neighborhoods are becoming.
Living in a neighborhood with a high Walk Score has more than just monetary benefits. Walking is a healthy lifestyle and is great for the environment. It also promotes a sense of community as you meet neighbors and stop to chat as you stroll to the local market. Want to know more about buying a home in Louisville? Call Younger Real Estate! We Know Louisville and can help you walk away with a great home!
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