Cost of Commuting in the Phoenix/Scottsdale Metropolitan Area
We're always into finding nifty little widgets to add to our website and recently found this one. Since we know the cost of commuting in the Phoenix/Scottsdale metropolitan area can be huge, we wanted to add this feature to help you in your decision about where to live.
So here’s a few things to think about: Before you buy that cheaper home that's $75,000 less expensive because it's 25 miles away from work (or more) vs. a home only 5 miles away, be sure to try out this calculator. Your mortgage payment might be less, but by the time you pay the commuting expenses associated with that "cheaper home", you may end up paying more than if you just bought the more expensive home.
In addition, commuting expenses aren't a tax write-off. Interest payments on a more expensive home are.
And if you work from home…how about giving yourself a $20,000 raise. If you're still on the fence about leaving that job, consider this:
A person working from home saves approximately $5,800 per year by working at home versus driving 20 miles to work. In addition, assuming an "hourly rate" of about $50 an hour, if that person works during the time he/she would otherwise be commuting, he/she could earn an additional $15,000 per year. Either that, or he/she could spend an extra 200 hours per year with his/her family and loved ones.
Give it a try: http://www.househangout.com/Cost_of_Commuting_Calculator/page_2103053.html
As always, thanks for "hanging out" with us!