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Four Ways Location Impacts Your Home’s Value
Manage episode 150624040 series 1001255
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If you’re thinking about buying or selling in Northern Texas, you might be surprised to know how big of a role location plays in determining a home’s value. Here are four ways that having a good location can boost a home’s value:
1. Schools. Families seek out neighborhoods close to schools for obvious reasons. Living near elementary schools is especially ideal to parents who want to walk their children to school. From a value standpoint, a location close to a well-performing school is a good decision for a buyer. Living near these schools can increase a home’s value more than $200,000, according to CNN Money.
2. Being close to areas of convenience. This is also known as the “Starbucks Effect,” based on a study that showed living near a Starbucks between 1997 and 2013 saw homes appreciate by 95% vs. 65% for the rest of the country. Living next to grocery stores like Whole Foods and Trader Joe’s increases a home’s value as well.
1. Schools. Families seek out neighborhoods close to schools for obvious reasons. Living near elementary schools is especially ideal to parents who want to walk their children to school. From a value standpoint, a location close to a well-performing school is a good decision for a buyer. Living near these schools can increase a home’s value more than $200,000, according to CNN Money.
2. Being close to areas of convenience. This is also known as the “Starbucks Effect,” based on a study that showed living near a Starbucks between 1997 and 2013 saw homes appreciate by 95% vs. 65% for the rest of the country. Living next to grocery stores like Whole Foods and Trader Joe’s increases a home’s value as well.
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Buyers are attracted to
homes in a quiet location.
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Buyers are attracted to
homes in a quiet location.
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3. Being close to freeways. Having a location close to a major freeway can be a huge value to home buyers who want to cut down on their commute. If the home is closer to a freeway, that equals a shorter commute.
4. A quiet location. Houses that back up to things like nature preserves, hiking trails, or a creek offer a serene setting. Many buyers are attracted to these homes. Houses on golf courses have the same effect.
We hope this information has been both beneficial and educational for you. If you have any questions for us or suggestions for future video topics you’d like to learn about, we would love to hear from you!
4. A quiet location. Houses that back up to things like nature preserves, hiking trails, or a creek offer a serene setting. Many buyers are attracted to these homes. Houses on golf courses have the same effect.
We hope this information has been both beneficial and educational for you. If you have any questions for us or suggestions for future video topics you’d like to learn about, we would love to hear from you!
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