Whether you’re looking to increase your home value, or you’re in the market to purchase a home, it is key to know ways to increase the value of property. You will be surprised by some of the things that make your home attractive to others, while others are more obvious.
It is becoming increasingly popular to live in a neighborhood that is near stores, restaurants, and more. Walking distance to some of these places is even better. Many young couples and young families are moving to areas with a central square. Roswell, Marietta, Woodstock, Smyrna, and Alpharetta are a few of the cute downtown areas just north of Atlanta. With family owned restaurants, art galleries, small boutiques, and frequent events, there is certainly always something to do.
Near a City
Similarly to “walkability”, the proximity to a city increases home value. Suburban and urban neighborhoods are desired markets and homes are worth more than areas farther from a city. So, that beautiful farm with 20 acres of land that is two hours from the city may be the perfect place for you, but it is not likely to appreciate like other homes closer to town will.
Nearby Professional Sports Arenas
There are pros and cons to having a professional sports arena nearby. The traffic on game day or the crowds of people at local shops and restaurants are certainly a downside. In general, people view a close proximity to a sports arena a plus. A home near a new facility, particularly in an area that has tremendous growth projected over time, is potentially a smart investment.
Overall, an area with more trees is more marketable. Someone looking to buy a home is likely to purchase in a neighborhood or area with trees. Trees give the surrounding area a warmer, homier, and more comfortable feel. While trees are desired by a majority of homeowners and bring benefits to their surroundings, they should be cared for, pruned, and maintained as needed. Trees can increase neighborhood home value up to 15%.
Who doesn’t love a good coffee shop nearby? As a commuter, I look forward to the days that I have time to drive through Starbucks for a treat to start the morning. A bit of research shows that proximity to a Starbucks does increase the value of your home a bit. I wouldn’t suggest to choose your next home because of how close it is to Starbucks, but an interesting statistic nonetheless.
Your home’s proximity to a grocery store affects your value. Sure, it makes sense that if you lived fifteen miles from the nearest grocery store, your property may not be quite as attractive to a potential buyer. More specifically, a recent study showed that homes with Whole Foods or Trader Joe’s nearby appreciated 40% faster than those without one or the other.
Blue is one of the most popular colors to have as a favorite, and it is easy to see why. It brings calmness to a room or home. It is a color that represents the sky and the sea, and also symbolizes trust, loyalty, wisdom, and intelligence. Those giving fashion advice recommend wearing blue to interviews because it represents loyalty, a desired trait of employees. Naturally, the color blue in a home is viewed in a similar way. It brings a sense of calm and peace to a home and believe it or not, it can increase a home’s value by thousands of dollars. Zillow estimates a blue kitchen alone can bring an extra $5000 to the value.
The current trend is a farmhouse style. Chip and Joanna Gaines, their store Magnolia, and the show Fixer Upper come to mind. A style with bright whites, neutrals, natural greens, dark wood, and pops of color here and there. Homes with a farmhouse style, or have features like barn doors are sought after in today’s market. I personally love the style, but also like a mixture.
If you’re preparing to put your home on the market, make a few changes that are on trend. For instance, instead of replacing your closet door with the same old traditional door, try a barn-style door that slides. A few easy ideas for trendy decor : a magnolia or boxwood wreath, white distressed accent pieces, and a few antique finished items.
Accessory Dwelling Unit
A garage apartment or additional cottage in the back to rent or lease are few and far between in today’s world. They do, however, increase a home’s value and are often intriguing and attractive to home buyers. If in a desired area, the unit is potentially easy to occupy. An additional monthly income for the homeowner is a plus, but upkeep is quite time consuming.
While your current home might not be walking distance to The Battery or a Trader Joe’s, keep these things in mind for your future living space. It might not be all that bad to be able to grab Starbucks so close to home.