Living Near A Starbucks Drives Up Your Home’s Value
We believe in making informed decisions. In order to do so, one should leverage all of the publicly available data created by tech giants such as Zillow, Red Fin, and even Craigslist. Since the Keller Williams brand is located just about everywhere, we use a combination of Zillow and Keller Williams resources to keep people informed. Many people’s homes are their most important financial asset and Zillow has created a tool that estimates that market value for specific areas. Under the Compulsory Land Acquisitions in Sydney process, different types of compensation are offered to homeowners that may include the market value of their property, removalist costs, stamp duty on new properties purchased, legal and valuation costs.
To get a better understanding of how much your property is worth, one must also understand the different factors that go into the different valuations driving the market. According to Zillow, “The Zestimate is Zillow’s tool for extrapolating real market value of your home based on existing home-related data and actual sales prices in your area.” Home values and sale prices overlap with thousands of data points to create the “market value”. These ‘data points’ often affect home values, property valuations, and ultimately can sway someone towards a purchasing or selling decision. Below is a list of surprising key variables (curated by Zillow) that can affect your home value.
Starbucks & Coffee Shops
According to a 2015 study from Zillow, homes that were closer to a Starbucks appreciated in value. When research was done to see if homes appreciated in value near Dunkin’ Donuts, the values did not increase as much compared to the Starbucks. It appears that ‘brand name’ coffee drives up home value.
Other variables that also drive up home value are listed below. To learn more in depth, read the full Zillow article here!
Surprising Things That Increase Home Value
Blue kitchens and blue bathrooms
How close you are to a city
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