We think everyone would agree when we say that living within a quarter mile radius of a coffee shop or a restaurant is highly convenient. Who wouldn't enjoy not having to walk far for a caffeine fix or grabbing a quick bite on nights when you're too lazy to cook?
It turns out, aside from the convenience, there's another benefit to residing near a Starbucks. New research suggests that proximity to the famous coffee shop can actually increase your home value. While proximity to school districts, additional floor space, and well-maintained outdoor spaces are still the top things possible buyers look for, investing in property near a commercial space is a great bonus as it can appreciate over time.
According to a recent report by Zillow.com, between 1997 and 2014, homes less than a mile from a Starbucks increased in value by 96 percent, on average, compared with 65 percent for all U.S. homes (based on a comparison of Zillow Home Value Index data with a database of Starbucks locations).
However, the exact correlation between property value and proximity to these retailers isn’t crystal clear just yet. Some experts believe that the values may increase because of demand to live near these stores, but it’s also likely that retailers are choosing these particular areas for a reason we've yet to find out.
Sources: TIME.com—Money, Zillow Porchlight
This story originally appeared on Realliving.com.ph.
* Minor edits have been made by the Femalenetwork.com editors.
