May 25, 2015

The Hidden Cost of the Neighbourhood You Choose

Suburb Car Matt Cardy via Getty Images

When you buy a house the first thing your eye goes to is the sticker price. But buying a home comes with a major hidden cost that doesn't show up in the MLS report: Transportation costs could more than eat up the savings of a lower-priced home in the suburbs. The concept is called location efficiency and it's the amount of time, energy and greenhouse gas emissions you spend getting from where you live to the workplace as well as your other frequent trips. And location efficiency may be the secret sauce to saving money and getting that house in the neighborhood you never thought you could afford.

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