Here are four surprising things that can increase a home’s value:
- How close it is to a Starbucks. Obviously, you can’t pick up your current home and move it closer to a Starbucks, but if you’re a buyer this is worth considering. According to a 2015 Zillow report, homes located within a quarter-mile of a Starbucks increased in value by 96% from 1997 to 2014. Proximity to a Starbucks probably indicates a proximity to other things that can increase a home’s value because Starbucks has a phenomenal real estate department.
- Having blue kitchens and blue bathrooms. According to Zillow’s 2017 Paint Color Analysis, homes with blue kitchens sold for an average premium of $1,809. The same analysis found that homes with bathrooms which were painted blue or periwinkle blue sold for a whopping $5,440 more. If you’re thinking about remodeling or repainting your kitchen or bathrooms, consider using blue.
- Having trendy features. Zillow listings which mention some of the shiplap queen’s favorite features and use keywords like “barn door” and “farmhouse sink” sell faster and for a premium, according to a 2016 Zillow analysis of descriptions of more than two million homes sold nationwide. Specifically, listings with “barn door” in the description sold for 13.4% more and 57 days faster on average than comparable homes.
- How close it is to a city. The average urban home is now worth 35% more than the average suburban home. Since 2012, the median home value in urban areas has increased 54%, while the median home value in suburban areas has increased 38%. If you’re a buyer and you’re reluctant to buy in an urban area, you may want to reconsider. Homes located in urban communities are worth more and appreciating faster than their suburban counterparts.
If you have any more questions about adding value to your home or you’re thinking of buying or selling a home, don’t hesitate to give me or my team a call. We’d love to help you.