Everyone knows how much location matters when you are choosing a new home. The right neighbourhood can make a big difference, particularly when it comes to the services and amenities that will be available to you. The right transport connections can also make a big difference, and not just during the removals process. A recent study conducted by Nationwide suggests that having a location that will be convenient for commuters can have a significant impact on a property’s value.
The impact was strongest in London, where being within 500 metres of a station could add as much as £42,000 to a property’s asking price, but similar findings were reported from elsewhere across the country. Homeowners as far apart as Glasgow and Manchester could expect to earn many thousands of pounds more for their properties when they were located near to a station.
Although this research focused on rail connections, other forms of transport are also likely to affect property prices and choices. We might not place much importance of making the removals journey easier or on finding locations close to transport options that we will seldom use, but if we are going to spend a large part of our lives commuting between home and work, we are going to try to make that commute as quick and easy as possible. An extra ten minutes in bed and a leisurely family breakfast every morning could be worth quite a lot.
Having the right transport links can also make it much easier to make other kinds of trips, as well as ensuring that our removals trucks and other deliveries can easily find their way to our new addresses. Being on the right bus route to make a direct trip to our favourite theatre or cinema can make life much easier for us, while an easy road link to the routes that we often follow to visit friends or relatives can prove to be a real time saver. Transport links can have a significant effect on property prices, but only because the location we choose to live in can have such a big impact on our everyday lives.