Residential real estate serves members of society though their entire lives. Young adult people typically look for single bedroom apartments or possibly two bedrooms when looking for roommates. When people get older, and start a family, three to five bedrooms may be necessary to serve the growing needs of the family. Real estate emphasizes “Location, Location, and location.” Young adult people are concerned how easy it is to get to the highway for work. However, families may choose small sized roads (less than four lanes) because they want a quiet and safe neighborhood for children. The paper is focused on how road sizes (avenue, street, blvd, lane, and highway) influence the numbers of bedrooms.
Road sizes play different roles for different people. It is important to understand the relationship between these road sizes to better understand the target market when selling residential real estate. Marketing dollars will be spent more efficiently if the target market is known. This is also important for developers to help them understand how infrastructure can play a role in promoting the sale of their property.
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1 comment:
I am not sure if I understand the relationship between road traffic and number of bedrooms but the relationship between traffic and sale price would be interesting.
The City of Arlington has a traffic count map for all the roads in Arlington. This could be used to rate the roads as high or low traffic. Sounds like your hypothesis might be that traffic will decrease residential sale prices.
Just an aside, but Realtors in Pinehurst, North Carolina say "don't buy a house on a double yellow road, it is harder to sell." Pinehurst marks all buys roads with a double yellow line and all secondary roads with a single white line.
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