Arlington, VA real estate agent and Realtor Matt Leighton talks bike lanes and real estate property values. Subscribe for more videos:
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When it comes to neighborhood amenities, many purchasers are looking for walkability. Buyers want to be able to walk to work, to the Metro, to neighborhood stores, and to the bus.
But forgotten in walkability is bike-ability. There are more and more bike commuters that are looking for neighborhoods with strong bike infrastructure.
It is Matt's belief that properties near bike lanes are more valuable. There are a lot of studies out there but frankly, these studies don't really isolate bike lanes and there's a lot of correlation/causation going on.
So let's take a deeper look at bike lanes. Because when a bike lane is added, what is happening?
The city is adding infrastructure to improve transportation. And when transportation is improved in a certain area, the surrounding area is improved as well.
There's really only one question you need to ask yourself:
Do you think a neighborhood is more desirable with bike lanes or without bike lanes?
And you might say well I don’t bike and I don’t like bikers, so what’s it to me. And that’s fine. You don’t have to like other people. But keep in mind. Without bike lanes, your car is sharing the road with bikes. With bike lanes, bikes have their own dedicated, sometimes protected lane that cars are not traveling in.
The value of bike lanes as a neighborhood amenity is an obvious but sometimes overlooked neighborhood amenity. Whether you’re Lance Armstrong or you despise bikers…it doesn’t matter. We all want to buy in a neighborhood that appreciates in value. And when you buy in a neighborhood that has bike lanes or is working to get bike lanes, you're probably on the right track.
Video location - Wilson Blvd and Clarendon Blvd - Arlington, VA
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matt@OrangeLineCondo.com
Matt Leighton - Arlington VA Real Estate Agent
Licensed in VA and D.C.
Century 21 Redwood Realty
1934 Wilson Blvd
Arlington, VA 22201
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