As an expert realtor at Joe Leffew Properties, understanding the various factors that influence your home’s value is crucial. Beyond the obvious elements like location and size, some surprising factors can significantly impact your home’s worth. Here are four unexpected aspects that may increase your home’s value in the eyes of potential buyers.
Proximity to a Starbucks
A convenient coffee run might make your mornings more enjoyable, but did you know it could also boost your home’s value? A 2015 Zillow report revealed that homes within a quarter-mile of a Starbucks increased in value by 96 percent between 1997 and 2014, compared to 65 percent for all U.S. homes. Even homes near Dunkin’ Donuts saw an 80 percent increase in value during the same period.
Blue Kitchens and Blue Bathrooms
Color choices inside your home can have a significant impact on its value. Zillow’s 2017 Paint Color Analysis found that homes with blue kitchens sold for a $1,809 premium compared to those with white kitchens. Bathrooms with pale blue to soft periwinkle-blue hues sold for $5,440 more. Cool neutral colors like blue and gray can signal a well-cared-for home with desirable features.
Popular home design trends can also influence your home’s value. A 2016 analysis showed that listings mentioning trendy features like barn doors and farmhouse sinks sold faster and for a premium. Homes with “barn door” in the description sold for 13.4 percent more and 57 days faster than those without the keyword, while those mentioning “farmhouse sink” enjoyed a nearly 8 percent sales premium.
Proximity to a City
Owning a home in a major metropolitan area can significantly increase its value. Urban homes are typically worth 35 percent more than suburban homes. Since 2012, the median home value in urban areas has risen by 54 percent, while the median suburban home value has increased by just 38 percent.
Conclusion: Leveraging Surprising Factors to Maximize Your Home’s Value
Understanding these surprising factors can help you better evaluate your home’s worth and make informed decisions when selling or buying a property. We at Joe Leffew Properties would love the opportunity to guide you through the process and ensure you maximize your home’s potential value.
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