{"id":443,"date":"2012-05-05T18:09:24","date_gmt":"2012-05-05T22:09:24","guid":{"rendered":"http:\/\/theraleighcommons.org\/raleighdla\/\/?p=443"},"modified":"2018-04-27T15:14:35","modified_gmt":"2018-04-27T19:14:35","slug":"its-too-expensive-to-live-downtown-fact-or-myth","status":"publish","type":"post","link":"https:\/\/theraleighcommons.org\/raleighdla\/downtown-living\/its-too-expensive-to-live-downtown-fact-or-myth","title":{"rendered":"\u201cIt\u2019s too expensive to live downtown.\u201d Fact or myth?"},"content":{"rendered":"

\"\"<\/a>Many people love to come downtown to \u201cplay\u201d, enjoying the\u00a0 entertainment and dining choices that a city has to offer, but when considering where they call home, they assume that urban living is too expensive. \u00a0Let\u2019s take a closer look.<\/p>\n

You don\u2019t need the same size house if you live downtown.\u00a0<\/em><\/strong><\/p>\n

It\u2019s true that the cost of living downtown is in most cases higher on a per square foot basis, but that should not be surprising.\u00a0 Raleigh is no different than most other urban centers where land values create a higher density environment. Buildings go up instead of out.\u00a0 The benefit is that active areas within urban centers are in close proximity to each other, allowing people to walk or use public transit to get with ease from place to place where they live, work and play.<\/p>\n

More people today are willing to sacrifice space for a walkable neighborhood.<\/em><\/strong><\/p>\n

Compared to the suburbs or smaller towns, you would likely need to be relatively wealthy to live in a similar size house downtown, if you could even find one.\u00a0 Yet many are beginning to question traditional \u201coutsized fantasies\u201d about a big house being a symbol of success.\u00a0 According to recent surveys, Most Americans want a walkable neighborhood, Not a Big House<\/a>. \u00a0And More Proof<\/a>.<\/p>\n

Do you really need all that space?<\/em><\/strong><\/p>\n

You can buy more house for the money in the suburbs, but if you don\u2019t need all the extra space, the overall cost to live downtown may be the same or less.<\/p>\n

Consider these factors.\u00a0 Younger people looking to keep maintenance costs low are happy to live in a multi-unit settings like small apartments, townhouses or condos.\u00a0 Imagine not having to need a garage full of lawn and garden equipment to maintain a big yard.\u00a0 And look at utility costs. Multi-unit living provides a much more efficient interior space for heating and cooling.\u00a0 Living in a condo, my average electric bill is less than $100.00 per month.<\/p>\n

It can undoubtably be a challenge to downsize for people who have collected lots of stuff in a bigger house, but many empty nesters have found the freedom that city living offers.\u00a0 My wife says downsizing \u201cmeans getting rid of all the extraneous things and noise in your life that are not contributing to your happiness\u201d.\u00a0 Her advice is to \u201cget rid of the clutter, and everything around you becomes the things you love\u201d.<\/p>\n

Reconsider the value proposition for living downtown.<\/em><\/strong><\/p>\n

Living downtown offers a vibrant, unique lifestyle with benefits that add value beyond a simple comparison of cost. \u00a0 These include:<\/p>\n