More than half of the world’s population now lives in urban areas. An urban area does not have to be a large city, but can be a location such as downtown Davidson North Carolina that features a concentration of community resources such as shopping, banks, churches, libraries and educational institutions.
The desire to live in an urban area transcends generations. The younger generation recognizes the health benefits of being able to walk places, while older homeowners also wish to be on their feet more.
The trend to urbanization is driven by economic, environmental, health and financial trends.
Economic and environmental trends both come down to reducing dependence on the automobile. Nearly 20% of the budget of the typical American family goes towards transportation. Couple that with the contribution cars make towards greenhouse gases, and its easy to see why many people desire to reduce their dependence on their automobile.
Did you ever work up a sweat driving to the store? Or to church? Probably not. There is an obesity epidemic underway in the United States, and much of it is fueled by our reliance on the automobile. Americans still want to get out and walk, but in many cases they are forced to drive. By moving to urban neighborhoods such as John Marshall Custom Homes’ Davidson Springs community in downtown Davidson North Carolina, homeowners have much more opportunity to use their feet for exercise, not just pushing down on a gas pedal.
A final reason that urban neighborhoods are growing in popularity is that they offer a better return on investment compared to suburbs. Mecklenburg County recently completed a revaluation of properties, and the results were clear: since 2003 areas such as downtown Davidson have increased by over 50% in value, while the suburbs have seen single-digit gains and in many cases a loss in value. It’s simple supply and demand. The area that is within a five minute walk to downtown Davidson is fixed. Couple increasing demand with a limited supply, and you’ve got a recipe for continued appreciation in housing values.
By living in an urban neighborhood, you can literally and figuratively take a walk to the bank.