The best local amenities to look for to boost your home value
A home’s value can be determined by several obvious factors like the square footage, layout, condition, age, etc. However, there are other factors that may not be so obvious, but still influence a property’s value.
Local amenities within a community can have a considerable impact on how much a property is ultimately worth. Being within a close proximity to certain amenities can boost the value and should be kept in mind when looking for a home, or considering what to highlight when pricing/selling your home.
For homeowners with children or planning on having children, being close to good schools is often a big deal, especially if it’s in walking distance. Many people are willing to make sacrifices in order to live closer to great education systems for their children.
Having convenient access to a variety of shops has a positive correlation with the average home value in an area. This can include coffee shops, grocery stores, fitness centres, boutiques, bookstores, wine shops, cinemas, etc. Supermarkets in particular can boost home value.
A study actually found that if a supermarket sits within a few streets of your house, your property values should be 20 percent higher than if you don’t have the supermarket nearby. Even large shopping centres and budget supermarket chains like Aldi contribute to higher property value.
Being close to dining and not having excessive drive times should also work to your advantage when looking to boost home value. Whether it’s a sit down restaurant, a cafe or fast food place, multiple choices within a close proximity are desirable to most homeowners. Fine dining establishments can increase the value even further because of the perception of upscale quality.
Finally, open spaces where people can enjoy nature and engage in recreational activities are also highly sought after. As long as they’re well maintained and in a low crime community, parks can be a significant property booster.
When you combine all of these amenities and they’re within a close proximity of your home, it means one thing:
The ease in which people can walk rather than drive plays a huge role in home value. Not only does this make it more convenient for people to get where they need, but it usually signifies that the area is safe, good for raising kids and has a social aspect.