Zillow CEO: Starbucks will boost your home’s value
One fascinating tidbit from his conversation: Zillow home value data show that between 1997 and 2014, homes located within a quarter-mile of a Starbucks (SBUX) increased in value by 96%, on average, compared with 65% for all U.S. homes.
If your home is close to a Dunkin’ Donuts (DNKN), its price would have appreciated 80% over the same time period, Zillow found.
Why does the Starbucks phenomenon happen? According to Rascoff, it’s because of the gentrification effect Starbucks has on an area — it brings in similarly valued retailers.
Coffee chains aren’t the only factor boosting your home’s value, Rascoff said. It’s best to live on a court or a way, versus a boulevard or a street, he noted. You’ll also want those courts and ways to be named instead of numbered.
For more, check out the video below.