The word commuting doesn’t exactly evoke the best of feelings in anyone. Usually you think of sitting in traffic, time away from home, and costly gas expenses. Does your commute need to be a nightmare when you buy a new house? Can you afford a home within a reasonable commuting distance?
Commute Factors:
1- Costs
Typically the closer you live to work, the less your commuting expenses will be. However, if you work in a major metropolis area it may be very costly to live close to work. Determine what type of commuting cost you can afford in addition to your mortgage payment. Commuting costs vary widely depending on how close you live to work, the price of gas in your area and whether or not you’d have to pay for tolls or parking. Do not forget to factor in wear and tear on your vehicle from a longer commute.
2- Time
Time is money in our world today. Think about how much of your day you are willing to devote to your commute. A longer commute means waking earlier to get to work on time. You’ll also return home at a later hour resulting in a longer day overall. Determine what length of commute is reasonable to you.
3- Lifestyle
A commute can drastically change your lifestyle. Commuting affects the decisions you make on a daily basis. Do you have time to enjoy happy hour with coworkers? Can you make it to your son’s basketball game? How many hours will you be able to spend with your family each day? Think of the lifestyle you want to lead in your new home and be sure your commute fits into that picture.
4- Public Transportation
Research what types of public transportation are available to you. Consider what type of cost savings you may have by utilizing public transportation. Consider your options of reading, following up on emails, or even snoozing during your commute. Factor in the reduced cost of car insurance since you won’t be putting as many miles on your car.
5- Telecommuting
Don’t forget to consider whether or not telecommuting is an option for you. Even if you are not currently telecommuting speak with your employer to find out if it is a possibility for you. Many employers are allowing employees to telecommute from home a few days a week to cut down on overhead costs for themselves. This can make a big impact on your commute and where you decide to buy. After all, the best commute is walking downstairs to home your office, right?
Keep these factors in mind when deciding what type of commute is right for you. It is wise to think about your ideal commute and everything associated with it before you are locked into a 30 year home investment. Understand what sacrifices you are willing to make in order to live in the home you desire while having a commute that suits your lifestyle.