Here are four surprising factors that can have a big impact on your home’s value:
1. How close you are to a Starbucks. According to a Zillow study, home prices increased overall by 65% from 1997 to 2014. During that same time period, though, homes located within a quarter mile of a Starbucks increased in value by 96%. Homes located near a Dunkin Donuts, however, only appreciated by 80%.
2. Having a blue kitchen or bathroom. Another study conducted by Zillow found that homes with blue kitchens sold for $1,800 more than those with white kitchens, and homes with pale-blue or periwinkle-blue bathrooms sold for $5,400 more than homes with different-colored bathrooms. In general, homes that are painted with light blue and light gray colors are perceived to be better maintained and, therefore, sell for more money.
3. Trendy features. Everybody knows that granite countertops and hardwood floors add value to a home, but other features like barn doors and farmhouse sinks go a long way in doing so as well.
4. Proximity to cities. More people are trending toward a lifestyle that focuses on walkability and being close to where they work, so the closer your home is to a city, the more valuable it is.
If you have any more questions about factors that affect your home’s value or you’re thinking of buying or selling a home in our market, don’t hesitate to reach out to us. We’d be happy to help you.