The economic climate over the past few years has been tumultuous for a great many people; gas prices have fluctuated with a disturbing trend to being prohibitively expensive while housing values have crashed. As the housing market struggles to recover, it has become more desirable for many home buyers to return to a more “small town” aspect of home ownership. For many people this can mean a variety of things, but most people’s concepts of this type of neighbourhood environment share some basic elements.

When they say that the most important aspects of real estate are “location, location, location”, it’s not a joke. However, it might be more accurate to say that the key is proximity. Proximity to the neighborhood elements which are important to you will not only make your surroundings more liveable but can also add value to your home.

The aspects of a neighborhood which add value to homes in the vicinity generally reflect everyday needs as well as social environments. A good location might be a walk-able distance to a grocery store, bus stop, and schools. Your individual needs will likely be some variation on these, but are probably quite similar. Some good social elements to live close to might be a coffee shop, parks, walking or cycling trails, and maybe a library.

Not only is it important to be close to things in your neighborhood but it is also vital that your neighborhood be pedestrian friendly so that your family can safely get to the places that they need to go. Some of the telltale signs of pedestrian friendly streets are sidewalks on at least one side of the street, narrow streets that calm traffic, well marked pedestrian cross walks, and good street lighting. For home buyers with families who’re looking to buy a home that will fulfill their needs well, look for neighborhoods that have children playing in them afterschool and on the weekends.

With people becoming more concerned about stretching their dollars farther, it’s becoming more important than ever to live in an environment where you don’t have to spend a lot of money driving around to meet all your household needs every week. We’re really seeing the importance of this accessibility for homeowners currently with the trend for homes that are in pedestrian-friendly neighborhoods not only holding their value better but also recovering their value better as well.