Surprising Factors that May Increase your Homes Worth
Surprising Factors that May Increase your Homes Worth
Wholesaling updated 9 months ago

Surprising Factors that May Increase your Homes Worth

To understand how much your home is worth, you have to know what affects its value.

One of the easy ways to get to know the worth of your property is to understand the factors that affect its worth,

Thousands of data are already available to correlate the value of the house and its sale process - some are obvious some aren't. An article from the Zillow Porchlight section will help us understand 

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Factor Number 1 Proximity to a Starbucks

Believe it or not simple locations like how far Starbucks is can make a magnanimous difference. A 2015 Zillow report found that, between 1997 and 2014, homes within a quarter-mile of a Starbucks increased in value by 96 percent, on average, compared to 65 percent for all U.S. homes, based on a comparison of Zillow Home Value Index data with a database of Starbucks locations.

In addition to that Zillow Report also evaluated if this effect is isolated to Starbucks, the research team looked at another coffee hot spot (one with particular pull on the East Coast): Dunkin’ Donuts.

The data showed that homes near Dunkin’ Donuts locations appreciated 80 percent, on average, during the same 17-year period — not quite as high as homes near a Starbucks, but still significantly above the 65 percent increase in value for all U.S. homes.

Point Number 2 Blue kitchens and blue bathrooms

It is surprising that beyond the  obsession with curb appeal, what’s inside your house counts a lot too — especially the colors you paint the rooms (particularly the kitchen)

According to Zillow’s 2017 Paint Color Analysis, which examined more than 32,000 photos from sold homes around the country, homes with blue kitchens sold for a $1,809 premium, compared to similar homes with white kitchens.
 

Factor Number 3 Trendy features

In addition to blue kitchens and Bathrooms, it was also reported that Zillow listings mentioning the shiplap queen’s favorite features — like barn doors and farmhouse sinks — sell faster and for a premium, according to a 2016 Zillow analysis of descriptions of more than 2 million homes sold nationwide.

Other Listings with “barn door” in the description sold for 13.4 percent more than expected — and 57 days faster than comparable homes without the keyword. Meanwhile, listings touting “farmhouse sink” led to a nearly 8 percent sales premium. According to the result of the study 

Factor Number 4: How close you are to a city


This one is obvious, of course, the accessibility of the City will really factor. Zillow Porchlight indicated that The average urban home is now worth 35 percent more than the average suburban home. Since 2012, the median home value in urban areas has increased by 54 percent, while the median home value in suburban areas is up just 38 percent.

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