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Do coffee shops increase property value?

IMG_3283If you’re like me, coffee is one the most important aspects of your morning, and like the other 78% of an Americans, it’s something you have almost every day. Coffee stands as the second most traded commodity internationally, and while it may be a valuable part of our morning, is it a value aspect to our property as well?

In a study done by Zillow, many metropolitan areas including Chicago, Boston, and DC, had homes which experienced fair growth in property values with the introduction of local Starbucks or Dunkin Donuts. Homes adjacent to the stores often times near doubled in value, while homes in the “down the street” vicinity rose 2/3 in property value.

Suburban homes too, experienced a growth rate in value, but not quite as much as their metropolitan counterparts. I, myself live near a newborn coffee shop, and it’s nice to know that it’s had an effect on the value of my home, even if only slightly.

Several other facilities also tend to raise property value, grocery stores and parks general take the spotlight of the most beneficial to property value. Coffee shops, however, have remained underrated as far as their effect on the property. It’s easy to take your local Starbucks for granted, with there being so many of them in raw number, but next time you grab your morning refreshment (or perhaps an upcoming pumpkin spice latte?), it’s nice to remember that it may be giving quite a bit back to you.

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Jennifer Summers

Jennifer Summers has an extensive background in Real Estate and new construction. She started her real estate career in 1996 in her families’ Real Estate brokerage and new construction companies, shortly after graduating with a BA in Business Marketing from UNT. Throughout Jennifer’s career, she has navigated a wide range of real estate transactions, including residential and investment properties. She has worked with a diverse clientele, from first time homebuyers to seasoned investors, and has built a strong network of industry professionals to ensure smooth and successful transactions. As a team leader, Jennifer is committed to fostering a culture of collaboration and continuous learning among her team members. She believes that building strong relationships with clients and colleagues is key to achieving success in the competitive real estate industry. Jennifer’s comprehensive understanding of local market conditions, property values, and emerging opportunities empowers clients to make informed decisions. We understand that buying or selling a property is a significant milestone in your life. With Jennifer’s extensive expertise, unwavering commitment, and unmatched dedication, you can trust that your real estate journey will be guided by a true professional.

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