Kris Grimes
Kris Grimes
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5 Factors that may increase home values

February 12, 2014 4:52 pm

The value of a home is based on many factors. The most evident are location, number of bed and bathrooms, lot size, and age.

But other, not so evident factors will also play a positive role in a home's value. Here a few that will surprise you:

  • Close to Parks and Open Spaces will add between $1,000 and $10,000, with natural areas scoring the highest and urban parks the lowest.
  • Within 1 mile of Walmart can raise the price by 1 to 2%.
  • Being able to walk to school, stores, park can add $4,000 in the suburbs. In cities, walkability is an important factor home buyers take into consideration and can add $34,000 to the price.
  • An in-law or teen suite can add up to 34%.
  • Trees on the street can add 3%, while trees in the yard between 3 and 5%.

As always in real estate matters, these assets need to valued by the home buyer who is willing to pay for those little 'luxuries'.

Source: HouseLogic.

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