There are many things that need to be taken into consideration when buying, or even selling a home. Location is everything, and there are some other factors that people do not consider when wanting to add value to their home.
A recent study brought up some interesting facts about what could increase the price of a home.
It was suggested that within one mile of a surfing area adds approximately $106,000 to a home’s value. While that may seem crazy, a prime surf location is heavily sought after, and a home within walking distance can be a surfers dream.
Parks and Open Spaces
Homes that are close to public parks or other areas that offer open recreational space, can have an increase value of 8% to 20%. When raising a family, it always adds value to a home when parks are readily accessible. This is perfect for parents who enjoy walking and taking their kids to play areas.
The study showed the following:
Homes near natural areas increased their value by $10,648.
Homes near golf courses increased their value by $8,849.
Homes near specialty parks increased their value by $5,657.
Homes near urban parks increased their value by $1,214.
While living in a city is not ideal for everyone, it is proven that homes that are close to a local Walmart increase in value. The University of Chicago concluded that homes within a mile of Walmart increased by 1% to 2%. Homes that were within a half of a mile increase by another 1%. That equals out to be about $4,000-$7,000 for the average size home.
Homes that are located in areas that are within walking distances of schools, parks, stores and restaurants increase the home’s value anywhere between $4,000-$34,000 according to the CEOs for Cities 2009 study. Being able to access the amenities without getting in your vehicle is a huge plus for many home buyers.
There are many other factors that play into the value of your home. When choosing to sell your home all these things will be considered. If you are ready to sell and realize that your home is not in a prime location, I can help. I buy homes for a living, and have some quick sell options to offer you. Contact me today for more details. In no time, you could be in a better location, without the worries of your old home.