As a developer, I think one of the most precious things in this world is time. Im sure many others (including non-developers) will agree with me. So today, I decided to calculate how much it costs to commute to work.
It takes me approx. 30mins to drive to work. Friday evenings it takes 45mins. If I go off-peak, such as on a half-day at work, it takes me 15-20mins. On Average, I would say it takes me 30mins, and thats the quantifiable number I will take for these calculations:
Lets take a salary of about $100K, take away all taxes etc, the net hourly pay will be approx. $30/hour.
The total time spent travelling to and from work in a week is 5 days X (2 X 0.5 hours) = 5 hours
Total cost of travel (in terms of productive time lost) = 5 X $30/hr = $150
Actual cost of travel (petrol + car + car maintenance) â‰ˆ $100 (Im taking best case senario, it costs a lot more in reality)
So…. if I were to live right next to my workplace, I could save $250 per week! Add that to the rent, and it means even if someone works in the CBD, they can easily rent somewhere close to their workplace.
If your commute to work is more than 30mins, then the cost is even greater. The time you save travelling could be used to get contract work, not to mention all that traffic stress you get to avoid!
Let the house hunting begin!