This Tiny Detail Might Just Double The Value Of Your Home
Properties within a block or two of this famous cafe is shaking up the real estate game
We think everyone would agree when we say that living within a quarter mile radius of a coffee shop or a restuarant is highly convenient. Who wouldn't enjoy not having to walk far for a caffeine fix or grabbing a quick bite on nights when you're too lazy to cook?
It turns out, aside from the convenience, there's another benefit to residing near a Starbucks. New research suggests that proximity to the famous coffee shop can actually increase your home value. While proximity to school districts, additional floor space and well-maintained outdoor spaces are still the top things possible buyers look for, investing in property near a commercial space is a great bonus as it can appreciate over time.
According to a recent report by Zillow.com, between 1997 and 2014, homes less than a mile from a Starbucks increased in value by 96 percent, on average, compared with 65 percent for all U.S. homes (based on a comparison of Zillow Home Value Index data with a database of Starbucks locations).
However, the exact correlation between property value and proximity to these retailers isn’t crystal clear just. Some experts believe that the values may increase because of demand to live near these stores, but it’s also likely that retailers are choosing these particular areas for a reason we've yet to find out.
SOURCES: TIME.com—Money (Why It's Good News If Starbucks Moves Into Your Neighborhood) and Zillow Porchlight (Markets Where Starbucks Boosts Home Values the Most). Main photos from Pexels.com and indebuurt.
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