1 GOOD REASON you might want to sell your home if you live near an LRT Station
If you are planning to move out of the neighbourhood anyway then you are more likely to get top dollar if an LRT station is scheduled to arrive near where you live. Multiple studies have shown that housing values go up when you are located within 1/2 mile near an LRT station. Price increases have been seen to range between 3% and 40%, depending on the different types of housing and socio-economic levels of the neighbourhood. If you want to rent your premise the same studies show,that the rents would be higher, than those farther from the LRT station.
Even announcements of improvements, which will shorten and ease commutes, have resulted, historically, in high-valued housing developments in comparison to new developments located a distance from these opportunities.Many studies (Hess and Almeida 2007) indicate that land values increase at LRT station nodes as early as 1 year before station construction or approximately 3 years after station plans are announced.
8 GOOD REASONS TO LIVE NEAR AN LRT STATION
A home near an LRT allows commuters to leave the car at home, and not have to deal with the increasing gas prices, the rush hour frustration hour,and the exorbitant parking fees in the downtown area.
2-MONEY IN YOUR POCKET
It could save you from having to buy a second car. Families with stay at home moms,who have to drive kids to appointments and events, and families where two people work at off shifts, or opposite areas of town. One can take the public transportation the other can take the car.
3-MORE "YOU" TIME
When you take the LRT, then during your travel time, there is an opportunity to read, text, chat, nap, meditate or catch up on work.
4-SAVING OF TIME
The farther you are from your work, and if you are travelling during rush hour then your travel time could be significantly less.
5-A NEW SENSE OF COMMUNITY DEVELOPS
Near the LRT stations retailers tend to move in providing more amenities and making the area even more attractive enlarging the footprint of the homes whose values will rise. Studies show, the closer you are to amenities the more value your home has.
When these commercial developments bring more amenities closer to these homes there is even less reliance on cars. Grocery stores, Banks, Veterinary Clinics, Dental and Medical clinics,Ice cream parlours, Pharmacies and Destination Retail outlets such as specialty clothing stores, seem to be the most keen, to set up shop around LRT stations.
6-IMPROVES YOUR HEALTH
When people choose rapid transit over the use of their car they walk an average of 30 min more a day than those who drive their car to work. 30 minutes per day walking time is considered to be a huge health benefit.
7-MAKES WINTER MORE PLEASANT
Less stress, more you time, plus more money in your pocket they are all rolled into one when we do not have to shovel off the car, scrape the windshields, leave it running to warm up.
Imagine not having to shovel our way into the car, and shovel the car out of the driveway or through the plowdrifts which the city plows pushed against the car. Besides there is nothing more beautiful than a walk in an Edmonton winter when the sun is out and making the snow look as if it had been sprinkled with diamonds.
8-NOISE IS LESS ANNOYING THAN BUSES
LRT’s are relatively quiet with no vibrations or rumblings and the sound only lasts a few seconds as it passes, sounding more like a rushing wind than a train. Like all city noises it becomes background noise which is not likely to disturb you when you are trying to sleep. If you find the noise is too disruptive then you can install noise abating windows. If you want to know more about noise abating windows, let us know in the comments, and we will make a blog about that.