Fun Factors that Increase Home Values
September 26, 2017
When shopping for a new home, who doesn’t want the best value? A home’s value is generally dependent on factors such as age, quality of construction, floorplan and features. But that’s not all. Take a look at these fun factors that are also certain to increase a home’s value.
- Proximity to outdoor attractions: People want to be able to go out and play. Recent studies suggest that being close to desirable parks, golf courses or other recreational open spaces can boost property values by 8%-20%.
- High walk score: Being able to stroll to schools, parks, stores and restaurants will raise your property’s walk score. These “live, work, play” communities can see an increase in market value anywhere from $4,000-$34,000.
- Proximity to sports venues: Take me out to the ballgame! A new pro sports stadium can raise values of properties within a 2.5-mile radius by an average of $2,214. Of the 31 neighborhoods located around the nation's pro-football stadiums, nearly two-thirds are higher housing values, on average, than houses in non-stadium neighborhoods.
- Ocean access: Surf’s up! Being within a mile of a surf break (a spot where surf-able waves happen) adds about $106,000 to a home’s value, according to surfonomics experts at the Monterey Institute of International Studies.
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