If you’re a first time home buyer in any city, state or community, there’s likely a list of things you want to consider in your new home. Size, number of bedrooms and bathrooms, condition, and perhaps neighborhood schools likely top the list. Others have more specific requirements, like finished basements, home offices, garages or yard space. But if you are buying in a city like Philadelphia, there are other things you’ll want to consider: namely, neighborhood infrastructure.
How walkable is your neighborhood?
Walkability and transit access are big features for those looking to live in an urban area. The trade off for narrower homes and smaller outdoor spaces is, without a doubt, the ability to walk a block or less and find restaurants, bars, shops, or multiple bus, trolley or subway stations. Walkscore.com can give you a rating of any property telling you it ranks at both walkability and transit access. These ratings are based on a score of 100, with the higher the rating, the better the access. Scores of 90-100, for example, are considered, “walker’s paradise.” while anything between 50 and 89 is considered either “somewhat walkable,” or “very walkable.” Scores of less than 50 can be considered car-dependent, with most errands requiring a car to be completed.
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While ⅔ of all Philadelphians report having at least one car as a part of their household, Philadelphia is also ranked as the 4th most walkable city in the US, with an average walkscore of 76,5, and an average transit score of 67. Some neighborhoods, however, are more suburban in their walkability, with few sidewalks and sprawling properties. Others have more typical urban amenities. Specifically, Rittenhouse Square, Center City West, University City and East Passyunk offer some of the most walkable real estate in the city.
Is your area accessible by bike?
Bikability is also a consideration when buying property. The overall bike score rating is 68 out of 100 for the city as a whole. In the past 25 years, biking has increased in Philadelphia by 237%. While only about 2% of adults commute to work by bike on a daily basis, that figure has actually doubled since 2014. Additionally, given the recreational facilities in the city of Philadelphia, many more people choose to bike to run errands or simply for fun on the weekends with their families.
Major bike trails, such as the Schuykill River Trail, as well as major bike lanes, like those on Spring Garden, Spruce and Pine Streets, have therefore attracted a real estate boom with residents paying more for access to infrastructure that will help facilitate a healthier lifestyle. In fact, being close to recreational trails can increase your home’s value by an average of $69,000. The Kenney administration has also recently announced funding to create additional bike lanes, as well as add protection to some current bike lanes, like those on Spruce and Pine, ensuring even more use of this infrastructure.
Does your neighborhood have parks or green space?
Positive public spaces and green areas can also be a consideration when buying a home. Green spaces like Penn Treaty Park and the extensive Fairmount Park system create more green space in Philadelphia than in almost any other city. However, public areas like Dilworth Plaza, Love Park, and Rittenhouse Square can act as positive neighborhood infrastructure, even with less grass than many parks. Not only do they serve as meeting and play spaces, allowing local residents to get outdoors, but they also act as event spaces. Consider the German Christmas Village at Love Park in December or the pop up beer gardens at Spruce Street Harbor or 15th and South in the summer. Access to these spaces for interaction can increase the desirability of your home.
When considering infrastructure and related amenities, not only will you be purchasing a home that may facilitate a better, more convenient and healthier lifestyle for you and your family, but one that is likely to be desirable when you do decide to sell.
If you aren’t familiar with all the positive infrastructure in the area, you should ask your real estate agent for research or recommendations of areas that best fit your lifestyle, needs and desires. If you have questions about the areas in which you are looking at buying a home, please contact me. And remember: friends don’t let friends buy homes without Agent Lady!
About Agent Lady: Cherise Wynne is a leading real estate agent in Philadelphia, helping home buyers and sellers navigate the City of Brotherly Love, with a special focus on first time home buyers. To chat about getting started with your first time home buying experience, click here.
