You could save over a hundred thousand dollars on your home by giving up your car for a bicycle.
May is National Bicycle Month. What is National Bicycle Month? Here’s an explanation from The League of American Cyclists
Established in 1956, National Bike Month is a chance to showcase the many benefits of bicycling — and encourage more folks to giving biking a try.
Whether you bike to work or school; ride to save money or time; pump those pedals to preserve your health or the environment; or simply to explore your community, National Bike Month is an opportunity to celebrate the unique power of the bicycle and the many reasons we ride.
One benefit they left out: major savings on the home. Did you know that homes with a garage cost an average of $115 thousand more than similar homes in the top bicycle commuting metro areas? We crunched the numbers on the top bicycle commuting cities according to The League of American Bicyclistszfbzcuyqsybrvyararsyawfcfawwursr to find out where you can save the most money by buying a home without a garage.
The table below shows following data for the top ten cities for bicycle commuting:
|Bike Rank||City||% Biking||Garage||Traffic|
|5||San Francisco, CA||3.8%||$150,000||56.5|
|10||New Orleans, LA||2.4%||$42,585‡||12.9|
Garages are great… when they’re actually serving their purpose of protecting your car from the elements and the unscrupulous. When your garage just ends up being a dumping ground for stuff you haven’t used in years, you’re just spending tens of thousands of dollars to store things that you really don’t actually care about. If you ditch the car entirely and avoid the urge to horde, you can save all that money and put it into other home improvements, instead.
$115,000 would go a long way toward that landscaping project, kitchen remodel, or a new roof!
Getting rid of your car may not be practical in the immediate term, but it never hurts to get out there and cycle. Who knows, you may just get addicted and find yourself searching for something garage-free when you go shopping for your next home.
Top image credit: Flickr user takato marui
*Oakland is part of the San Francisco metro area.
†Estimated based on a percentage of sale prices.
‡Estimated based on a percentage of sale prices via Zillow.com.