The Cost of Commuting

Have you ever wondered what all that time you spend in the car going to and from work is really worth?  In our current real estate market we are seeing an urban contraction, which is a fancy way of saying people are moving back to urban centers and close-in suburbs.  The majority of foreclosures, short sales and “deals” are found a little further out and this can be tempting for home buyers to consider a trade off; commuting for more house.

I’ve found a new tool which can take into account all the impacts that a longer commute may have on your life.  Some of these are obvious such as the cost of gas and maintenance, but have you considered how much more house you could buy with that money, or the size of your “carbon footprint”?  The picture below links to the page on my website where you can find the actual calculator.  You can download the tool for free to  put up on your own website.  As always please leave me a comment and let me know what you think!