The Starbucks Effect
According to Zillow, living near a Starbucks can increase the value of your home. The research group found that homes closer to coffee shops increased exponentially more than the overall market. This shows the power of good coffee. When it comes to looking for a home, an important factor to look at is resale value. You never know when you will need to sell your home, and when you do, ideally you want to make money not lose money.
Where to buy
Just because a house is near a Starbucks, doesn’t mean it will appreciate in value. It doesn’t hurt. Key contributors to home value include road conditions, traffic, neighborhood growth, surrounding schools. What is important to note is that companies like Starbucks look at this information as well. If you see a Starbucks being built in an area, you can probably guess that the area is set to grow. This is a major reason it is a good idea to hire a realtor with experience in your area.
Follow the trend, not the fad
The difference between a trend and a fad is longevity. Trends begin small and gradually grow like a snowball going down a mountain. They may not start big, but they end up big. Fads tend to start out of nowhere and explode all over the place. But, then they are short lived so they can make way for the next fad. A realtor can guide you through the process of recognizing trends vs. fads. They have watched the market, they know the area and can analyze the data to determine if something is here to stay, or will be a flash in the pan.
We would love to be your trend consultant when buying your home, so that you don’t fall prey to the fads that leave you losing money.