Bedroom Community
The definition of a bedroom community, or commuter town in real estate is a unique type of community that merely uses their homes to sleep, while doing everything else offsite. In a bedroom community, people work, eat and engage in recreational activities away from their homes, only returning to their domiciles to sleep.
These communities are a fascinating phenomenon, characteristic of the unique social paradigms in large cities that manifest due to the dynamic nature of modern metropolitan life. Now, let’s look at an example of a bedroom community, and exactly what life looks like in one of these unique areas.
Pros and cons of living in a bedroom community
In the past half-century, bedroom communities have cropped up across the United States, in virtually every major metropolitan city. A desire to escape the traffic, pollution, high crime rates and other woes inherent to city life has resulted in the forming of many such neighborhoods and suburban areas, as families increasingly migrate outwards into the periphery of major cities.
There are many intrinsic advantages to living in a bedroom community. Safety, better schools, cleaner air and less noise pollution all contribute to a higher standard of living than one would find in an urban environment. Many suburban areas are actually bedroom communities, albeit unbeknownst even to many that live there.
Despite the intrinsic advantages that accompany bedroom community living, there are also downsides that have to be acknowledged. Commuting to and from work eats into family time, Shopping becomes difficult when most stores are at a considerable distance from home and maintaining a social life with friends in the city becomes draining after a while.
Weighing the upsides and the negatives, it’s safe to say that living in a bedroom community is ultimately a matter of personal preference. For some, it is well worth the inconveniences; for others, it is simply untenable as a way of life.
Popular Real Estate Terms
Group of people residing in one home, usually consisting of a family. ...
making land more beautiful to look at by adding improvements such as lawns, trees, and bushes. Increases the value of the property. ...
Offering of new securities of a real estate company to the investing public, after registration requirements have been filed with the SEC. the securities are usually made available to the ...
Individual: Adjusted gross income less itemized deductions and personal exemptions. After taxable income is computed, the tax to be paid can be determined by looking at the tax rate ...
Latin term meaning let the buyer beware. The buyer purchases at his or her risk, in the absence of fraud. This does not obligate the seller to volunteer information. However, legal statutes ...
While trying to determine your net income, you might come across the term revenue, sales, or gross income. So what does revenue mean? Through revenue, we understand the income generated ...
Partial fulfillment. Pro tanto is normally used in relation to the partial satisfaction of a claim. For example, a pro tanto settlement in an eminent domain action will not prejudice any ...
Estimated market price property could bring using currently accepted appraisal methods. This might not be the same as the market price at any one given time when the seller is compelled to ...
The adjusted sales price is also known as price adjustment or adjustment in appraisals. A definition for the adjusted sales price is the appraisal determined through the market approach or ...
Have a question or comment?
We're here to help.