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Gas Prices and Downtown Condo Living
By Kathryn | June 7, 2008
More and more people are seeking to move into the condo developments that are going up in downtown Austin. Unfortunately, there is one thing that holds a lot of those people back from making the move downtown: cost. Although there are some really affordable condo options available, many of the places that are in development right now are priced high in comparison to real estate costs in other parts of the city. However, after taking into consideration the money saved on every day expenses when living downtown (in particular the amount of money saved on gas each day), it appears that living in a downtown condo may not actually be any more expensive than living in more outlying areas of Austin.
The thing about the new developments that are taking place downtown is that they are designed to delete the commute from your life entirely. The condos that are being built are almost all mixed-use spaces which allow individuals living in them to meet many of their daily needs without leaving the building. Those activities that do need to take place outside of the condo - activities like work, shopping, entertainment and even forays into nature - can all be found within walking or biking distance of the downtown condos. This means that you can probably get by in downtown Austin without even owning a car. And those people who keep their cars can drastically reduce the amount of money that they spend on gas which significantly offsets the initial cost of moving downtown.
It is probably wise to assume that the price of gas is going to keep on going up. It’s risen drastically in the last five years and there is little indication that it’s not going to keep rising. In contrast, the cost of living in a downtown Austin condo is probably not going to climb considerably in such a short span of time. Those people who make the move now will be able to secure fair prices on homes that have the potential to gain value over time. Rather than siphoning money away by spending it on commutes to grocery stores, retail shopping and work, those people who live in downtown Austin will be able to use that money to pay for housing that is ultimately an investment in the future.
More Gas Price Resources:
- Austin Gas Prices
- Louisville Gas Prices
- Columbus GA Gas Prices & the Real Estate Market
- Gas Prices & Chicago Real Estate
- Las Vegas Real Estate & Gas Prices
Topics: Downtown Austin Living |
June 17th, 2008 at 10:03 am
The other thing that’s going to happen with fuel prices skyrocketing–an increase in property values for locations close to the city core and places of employment.
August 31st, 2008 at 9:00 am
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