Your home’s value is dependent on many factors. Size, condition, location, and recent updates are some of the most common factors. But, there are a few lesser-known factors that can actually add value to your home.
1. Street Name
Not the actual name of your street, but whether it is a street, lane, court, boulevard, etc. can add value to your home. Boulevard will add the most value to your home – averaging $117 per square foot nationwide, while street adding the least value – averaging $86 per square foot nationwide.
2. House Number
Some home buyer believe in house numerology – adding up the number of your house and predicting whether it is a good home to buy. Trulia has an extensive article on the details of house numerology. But the short version – homes with the number 13 or homes whose numbers add up to four, could see a hit in their price.
3. Starbucks and Whole Foods
Homes close to a Starbucks, Whole Foods, or Trader Joes can expect to see a bump in value. If you are within a quarter mile of a Starbucks, you home could appreciate by twenty one percent. Or if your home is within a mile of a Trader Joes, you could see your home’s value increase by forty percent.
4. Celebrity Factor
If a previous owner or tenant of your home was famous or your home was historically significant, you should market that in your listing or add a plaque to your home to commemorate the person or historical event. You home could see a five percent boost in value.
5. Living on a Hill
Homes built on top of hills are great for home for two reasons – they divert water and moisture away from your home’s foundation and they provide the home with privacy. For these reasons, a home built on a hill could add more than five percent to your home’s value.
6. Distance to a Bar
A study in the United Kingdom found that home’s close to a good bar had three percent higher values than those that were not close to a bar. The study has not been replicated in the United States, but anecdotally, buyers are always excited about a home with a nice bar that they can walk to.
7. Farmers’ Market
Homes with a regular farmers’ market nearby saw a three percent increase in value. Most Denver area neighborhoods have their own seasonal farmers’ market and the city of Denver has a huge year round farmers’ market for residents to enjoy.