May 1, 2021

The Five Mile Rule - Amenities Near Buy

When buying a home or condo, or even renting an apartment, it is a good idea to implement the five mile rule.  That is everything you need for daily living should be within five miles of your home.  First, it cost money to drive further; but also it takes time.  

So, if your favorite stores for food are CostCo and Trader's Joe's, make sure they exist within 5 miles.  It would be very good if medical services and hospitals are within 5 miles, particularly if you are 65 or older.  And also having a Home Depot or Lowes nearby is a good thing too. 

Ideally, the market, drug store and your bank should be on a street corner near you.  Make things easy on yourself.  Sometimes people trade a lower home price moving further out for near by amenities.  Just know that if you do that, it could take 10 years or longer for those amenities to show up. 

In the mean time, you will spend a lot of time in traffic getting to the things you need everyday.  And, there is a cost to doing that.  Don't do it, if you can help it.