While it is no surprise that homeowners want to maximize the value of their property, it might come as an eye-opener that proximity to certain grocery stores can substantially improve the value of real estate.
According to a recent study from ATTOM Data Solutions, major grocery store chains like Trader Joes, Whole Foods, and ALDI, were found to increase home prices. In fact, across the country, the average home value near Trader Joes is $608,305, compared to $521,142 near Whole Foods and $222,809 near ALDI. The average home seller return on investment over a five-year span with these grocery stores was 37%, with homes near a Trader Joes having an average home seller ROI of 51%, compared to homes near a Whole Foods with an average home seller ROI of 41% and ALDI at 34%.
Why It Matters
The findings are compelling because homebuyers, whether they are solely looking to invest in real estate or simply seeking to raise a family, may count on their purchase paying off by just living near certain grocery store chains as those chains seem to provide a quality return on investment and secure higher home equity. For an investor, real estate near certain grocery store chains contributes to strong home flipping returns and attractive home price appreciation. In short, proximity to certain grocery stores can substantially improve the values of residential property nearby, particularly if the stores offer high quality service and products.
Historically, residential home buyers sought properties nearby schools that they wished for their children to attend. In terms of increasing home values, it almost seems as though purchasing real estate near certain grocery chains may have the same importance or may have usurped purchasing near desirable schools.
Among the core tenants of real estate is location ? location ? location! After all, residential real estate purchasers who choose the ?best? locations will have an asset that appreciates more than the norm. With that in mind, whether you are an investor looking for more bang for your buck or a homebuyer looking to purchase residential real estate near conveniences such as grocery chains, look for a well-branded chain like Trader Joes, Whole Foods, or ALDI as those grocery chains seem to have a significant statistical positive effect on property values.
- OPTIONS FOR SELLER FINANCING
- INVESTMENT FIRMS MAKING IT DIFFICULT FOR FIRST TIME HOME BUYERS
- OPEN DOOR ORDERED TO PAY $62,000.000.00 IN FINES FOR DECEPTIVE PRACTICES
- INVESTOR SERVICES – WE ASSIST IN BUYING AND SELLING NON-PERFORMING NOTES AND NON-PERFORMING REAL ESTATE ASSETS
- EVERYTHING YOU NEED TO KNOW ABOUT REAL ESTATE CONTRACTS
- Estate Planning
- For Sale by Owner
- Home Buying
- Home Selling
- Land Use
- Real Estate Brokers
- Real Estate Markets
- real estate planning, real estate finance, FSBO, real estate markets, home buyers, home sellers
- Tax-Related Issues
- Title Issues
7 ways to make money in real estate without giving up your full time job ADMINISTRATORS DEED AFFIDAVIT OF SURVIVORSHIP affidavit of title ASSIGNMENT AGREEMENT ASSUMPTION AGREEMENT BUYERS CLOSING DOCUMENTS COMMON LAW MARRIAGE contract for deed COVID AND EVICITION DEATH AND REAL ESTATE Deed d prefix stamp d stamp Easement in Gross EFFECTS OF INFLATION ON REAL ESTATE elements of real estate contracts everything you need to know about real estate contracts EVICITION RULES financial instituion future of commercial real estate GENERAL WARRANTY DEED INFLATION LANDLORD LIS PENDENS medallion signature guarantee medallion signature guarantee stamps Missouri Easement Law Owner financing PROBATE real estate contracts seller financing SELLERS SPECIAL WARRANTY DEED STATUTE OF FRAUDS SURVIVORSHIP AFFIDAVIT TENANT TENANTS IN COMMON title affidavit TRANSFER ON DEATH DEED WARRANTY DEED WHAT IS A FINAL WALKTHOUGH? what is an affidavit of title? wrap around mortgage