The first rule of real estate is location, location, location! Your proximity to certain natural hazards, places and, yes, even people plays a huge role in determining your home’s value – for better or for worse. Can you guess which neighborhood grocery store can increase a home’s value by 40%?! Check out this infographic to find out.
And don’t forget to get a Housefax Report to see a home’s natural hazard risk, sink holes and other factors that affect a property’s value!
Boost Home Value
It’s no surprise that many buyers seek to be closer to shopping and community activity. Research shows that if you’re within a quarter mile of a Starbucks, your home value increases about 21%. Similarly, proximity to a Dunkin Donuts can make your estate about 15% more valuable. But for a real boost, a nearby Trader Joe’s can increase your home value by 40%. It’s not just nearby retailers that help. 21% of buyers will pay more to be in walking distance of their kids’ schools.
Hurt Home Value
As promising as those things that boost home value are, there are also a lot of factors that could work against your property’s worth.
Being near a garbage dump lowers your home value about 5-7%. And while there’s insurance coverage specifically for sinkhole damage, being near one can bring down property value by as much as 30%.
It’s not just places that hurt your home value. Being near certain people can be damaging, too. Loud neighbors or neighbors who don’t maintain their lot can lower your home value anywhere from 5-10%.
Is your home near a sinkhole? How noisy is that home you’re considering buying? Both can affect a property’s value.
Find out today by getting a Housefax Report @ housefax.com.
We know, some of these stats seem seriously too good to be true. Here’s where we did our research so you can see it for yourself.