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Starbucks has its benefits for homeowners, whether you drink coffee or not. It sounds strange, but research suggests that having a Starbucks near your home may increase its value!
Research conducted by Zillow found that if you lived within a quarter-mile of Starbucks, your home value would have appreciated by 97% from 1997 to 2014! This is compared to a 65% appreciation rate if your home wasn't located near a Starbucks - that's a 31% difference.
Starbucks usually puts new locations in promising areas that can expect future growth. This likely explains the Starbucks effect, but some builders say that they see a new Starbucks as a sign of promise.
So, are builders following Starbucks or are Starbucks following builders? It's kind of a chicken or the egg situation.
Starbucks or not, there is a strong demand for homes in Orange County. If you would like to take advantage of these wonderful conditions, or if you have any questions, give us a call or shoot us an email. We would love to hear from you!
