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Do This To Double Your Homes Appreciation Rate
Many things impact the rate at which a home will appreciate, or increase in value. According to Zillow and Marian McPherson of Inman News, homes near WHOLE FOODS AND TRADER JOE'S appreciate 140% and 148%, respectively - nearly double the rate of the median U.S. Home!
Although this trend could be credited to the fact that these stores are usually opened in high income areas, Zillow researchers showed that is not necessarily the case.
They found that before a Whole Foods or Trader Joe's opened, homes appreciated at the same pace of comparable homes across the city. After the store opened, homes in close proximity began appreciating at a faster rate.
According to Zillow data analyst Jamie Anderson, "Whole Foods and Trader Joe's are not simply piggybacking off already hot neighborhoods. Rather, it appears both chains are either incredibly smart about finding neighborhoods on the verge of gentrifying, or the opening of either location positively impacts home values".
Whole Foods and Trader Joe's aren't the only retail chains that are bolstering home values. Homes located near a Starbucks can increase appreciation rates as well, according to a previous Zillow study. While the appreciation rate increased by only 16% in the coffee giant's hometown of Seattle, homes by a Starbucks in Boston appreciated 171% over a 16 year period, compared to 126% for other homes during the same time.
Appreciation is one of the amazing gifts of homeownership. So, if you find a home and also love being close to your lattes and organic vegetables, live near one of these 3 stores and watch your equity grow!
Source: Inman News and Zillow
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