There are a lot of factors that go into figuring the value of your home. Some are obvious – like its physical condition – while others aren’t so obvious. Take a look at the information below to learn a few surprising things that could make your home worth more than you thought.
1. Living Near a Starbucks
Do you live within ¼ miles of a Starbucks? If so, your home could be worth more than others located further away. According to a 17-year study conducted by Zillow, homes in close proximity to a Starbucks increased in value by as much as 96 percent.
To further test this theory, the same study found that on the East Coast, homes situated close to a Dunkin’ Donuts also increased in value (but not quite as much) by as much as 80 percent.
2. Blue Bathrooms and Kitchens
Turns out buyers like the color blue, especially in the bathroom and kitchen. Homes that feature blue kitchens sold, on average, for $1,800 more than those with white kitchens. Additionally, homes with blue bathrooms sold for as much as $5,400 more than those with bathrooms of another color.
For many homebuyers, walls painted in cool blue or gray tones signify that the home has been well cared for and that it may include updated and/or desirable features.
3. Trendy Features Buyers are Looking For
As it turns out, homes with farmhouse features are all the rage right now. Barn doors and/or farmhouse sinks are a couple of features that homebuyers are looking for. In fact, if your listing features the keywords “barn door” in it, you’re likely to sell your home up to 50 days faster and for as much as 13.4 percent more than homes that don’t. Also, homes with farmhouse sinks may bring in an 8-percent premium.
4. Your Proximity to a City
A home located in an urban area is worth much more than if it were located in the suburbs. If your home is in or near a big city, you are sitting on a significant asset that’s rapidly increasing in value.
Case in point: since 2012, homes in urban areas have increased in value by as much as 54 percent while homes in suburban areas only increased by 38 percent.
Many factors go into figuring the value of a home. While some aspects are obvious – like its physical condition or the types of amenities it contains – other factors aren’t so much. Turns out things like proximity to popular coffee houses and cities or interior décor in blue can also make your home worth more than you may have thought.