Every homeowner would like to find ways to increase the value of their home but in truth there are some very surprising factors that could affect how much your home would sell for. Read on to learn four examples and then contact Berkshire Hathaway HomeServices at (310) 373-0021 if you would like to speak to a real estate professional who can help you.
1. How Close You Are to a Coffee Shop
Not just any coffee shop though – a house’s proximity to a Starbucks seems to affect its price. According to one report, homes within .25 miles of a Starbucks when up in value by nearly 100% between 1997 and 2014 while the national average for all homes was just 65%. Another study looked at whether other coffee shops had a similar effect. It found that homes near Dunkin’ Donuts went up an average of 80%, which is somewhere between no coffee shop and Starbucks.
2. The Color of Your Kitchen and Bathroom
Believe it or not, homes with blue kitchens or blue bathrooms may be worth more than homes with kitchens of any other color. One study that considered 32,000 pictures of recently sold homes in the United States found that kitchens that were blue sold for nearly $2,000 more than homes with white kitchens.
The same study found that a home with a pale blue or soft blue bathroom sold for an average of more than $5,440 more than neutrally colored bathrooms. The lesson? If you’re going to paint your bathroom or kitchen, consider painting it blue!
3. Homes with Trendy Features
Many homeowners are afraid of adding trendy features because they think they will have a hard time selling their home. The truth is that a 2016 analysis looked at the descriptions of two million+ homes sold throughout the nation and found that the trendiest options – barn doors and farmhouse sinks at that time – sold faster and for more money than homes without these trendy features.
4. Proximity to a City
The fact of the matter is that if you live in or around a major metro area, homes are likely going up and up and up in price. On average, an urban home is worth about 35% more than a suburban home. Consider as well that in the last seven years, the median home value of urban homes has gone up by 54% while the median home value of suburban homes has gone up by just 38%.
While these stats are interesting and telling, they should not be used as an indication that you cannot sell your home without them. If you are looking to buy or sell, Berkshire Hathaway HomeServices is here to help – just call us at (310) 373-0021 and we can get started.