7 Surprising Things That May Increase Your Home’s Value

For many homebuyers, thinking about how to increase a home’s value may be the last thing on their minds. However, there are certain external factors that can add value, many of which are quite unexpected. You may want to consider the impact of these before you actually buy a home. Likewise, there are many projects you can tackle to improve a home’s resale value once you become a homeowner. Below, we’ll discuss seven surprising things that could increase your home’s value.

1. Living near a supermarket

Proximity to a supermarket will likely increase your home’s value since most people are looking for convenience in their daily lives. However, you just might hit the jackpot if your house happens to be near higher-end or specialty stores like Trader Joe’s or Whole Foods. According to Zillow, homes near these types of grocery stores may appreciate in value up to 40% more quickly than other homes.

Generally speaking, if you buy a home in a planned community, chances are you’ll be just around the corner from everything you need – grocery stores, restaurants, gas stations, and retail shops.

2. The presence of trees

It’s easy to gravitate toward brand-new homes in newly established communities, but something you often give up is trees (and the shade they provide) when you choose this option. A well-established neighborhood, on the other hand, usually has plenty of large, well-rooted trees scattered throughout, which can increase your home’s value anywhere from 2% all the way up to 15% in high-income neighborhoods.

3. Walkability

This desirable neighborhood quality is a lot more realistic in urban areas since you’ll be more likely to live around the corner from your favorite coffee shop, retail stores, and delicious restaurants. However, even some suburban areas may have good walkability, especially if local schools and parks are nearby and within a reasonable walking distance.

4. Nearby recreation area

Whether within walking distance or driving distance, living close to a park or large recreational area can drive up your home’s value. Depending on your preferred hobbies, you may want to buy a home that’s in close proximity to things like a golf course, playground, tennis courts, or a dog park. Outdoor recreation is especially beneficial for families with young children and those who enjoy being active.

5. On-trend features

If you’ve been browsing Pinterest lately, you probably know that farmhouse décor and white kitchens are all the rage. While it’s probably best to err on the side of caution when it comes to following trends, it’s good to keep a pulse on what’s popular if you’re planning to sell your home soon. Updated kitchens, in particular, can add significant value to your home but simply staying on trend with your wall color and décor could lead to a faster sale.

6. Mother in-law suite

Any type of additional unit, whether it’s an in-law suite, apartment or carriage house, can add significant value to your home. A big benefit of having this separate space is to build a secondary stream of income, but for many, it’s also a nice place for friends and family to stay when they visit. Before buying a home with an accessory dwelling to be used as a rental, be sure to research the local laws to ensure you’re allowed to do so.

7. Good school system

A motivating factor behind where many people choose to live is the quality of the area’s school system. For those who have or intend to have children, finding a home in a school district with a highly rated and safe school is typically at the top of the ‘must-have’ list. On the contrary, for some families who plan to send their children to private school, this factor may not influence where they decide to buy. If public school is in your kids’ future, be sure to do your research on the area schools before you fall in love with a home in that school district. We’ve talked about things that can increase your home’s value, but would be remiss not to mention some things that can actually have the opposite effect. Things like sloppy home projects, putting in a pool, living near busy highways or train tracks, flood zones, and homes that haven’t been updated in 20-30 years can actually decrease the home's value and make it more difficult to sell. Doing a bit of research about the real estate market in your local area or simply chatting with your real estate agent can help you determine which home will be the best investment for your future.