Friday February 20, 2015
Living in communities near Starbucks coffee shops can increase your home value. Yes, you heard that right! In a recent study by Zillow, a real estate database, showed that from 1997 to 2014, 96 percent of houses located near a Starbucks increased in value, while homes farther away only increased by 65 percent. There are said to be a few theories behind this:
It is true; homes near Starbucks tend to be a little more expensive. However, these same houses increase in value at a faster rate than US housing as a whole. Those looking for a new home just might believe that communities near Starbucks means that the neighborhood is improving. And a growing community is extremely important to prospective homeowners.
A new survey showed that 30 percent of homebuyers’ main reason to move was for a safer neighborhood. Maybe the fact that having a Starbucks coffee shop near by, might signal to homebuyers’ that the neighborhood is a safer area to live in.
The Demand Institute claims that for most, a homes location is just as, if not more important than the home itself. Which is why there is no surprise when location is one of the main reasons people move. Which leads to another theory of how important it is for homebuyers to live within a short drive of restaurants and cafes. And just maybe, Starbucks now fits into that description.
The list of theories could go on and on as to why communities near Starbucks have better home values. But the two things that the Zillow authors have made very clear is, “A neighborhood Starbucks isn’t the result of higher home prices; it causes them. And the closer you live to one, the better.”
Many of Normandy Homes’ communities live close by Starbucks coffee shops. So if you do believe that living in communities near Starbucks will increase your home value, take a look at what Normandy Homes has to offer!