Should I live close to work or commute?

In major cities, living closer to work will save you time and money on parking and transportation costs. But you’ll end up paying much more for your living space. Moving closer to work cuts down on commute times and transportation cost, but high living costs tend to make up for it, Hamm says.

Is commuting for a job worth it?

Just how bad is a commute on job satisfaction? A study by the University of West England found that adding 20 minutes to your daily commute has the same negative effect on job satisfaction as receiving a 19 percent pay cut. In fact, every extra minute commuting lowered satisfaction with their job and leisure time.

What is a typical commute to work?

In 2019, the average one-way commute in the United States increased to a new high of 27.6 minutes. In 2006, the average travel time for the nation was 25.0 minutes. The increase of about 2.6 minutes between 2006 and 2019 represents an increase of about 10\% over 14 years.

What are advantages of living near work?

By keeping your home nearby and your commute short, you can greatly reduce those costs. Simply living close to the office can save you hundreds, or even thousands, of dollars a year in reduced fuel costs and vehicle maintenance expenses. Less time in the car also means less air pollution, and that is good for everyone.

Should you buy a house with a longer commute?

If you have that kind of flexibility, you may be more inclined to buy a house that requires a longer commute. There are also considerations about what matters most to you in addition to price. Outdoor parks, nightlife, access to restaurants and shopping, and population density may be important factors when picking a place you want to live.

Is a longer or shorter commute better?

Research supports the idea that a long commute can have downsides that hit far deeper than time on the road. A recent study from Canada’s University of Waterloo found that people with long commutes experience higher levels of stress and lower levels of life satisfaction than people with shorter commutes.

Can you afford to buy a house near your work?

Consequently, even if you’re looking for a short commute to work, your options of where you can afford to buy a house may be limited, and affect where you can realistically shop for homes. “My recommendation is keep driving until you can afford it,” says Irvine, CA, real estate agent Benny Kang.

How much money can you save by cutting your commute time?

According to research by Lifehacker, each mile you live from work adds $795 per year to your commuting costs. So, for example, if you were to cut your commute from one hour to 30 minutes, you’d save a whopping $23,850 annually—which could mean you’re able to spend a bit more on buying a home. Many workers have the luxury of setting their own hours.