Coffee improving equity?
Starbucks is a brand synonymous with Seattle. And new data published by Zillow indicates how Starbuck's addicts hefty spending at the coffee chain might help homewoners in a suprising way – improving your home's equity.
According to the Zillow study, homes that are located near a Starbucks coffee shop appreciate at a faster rate than homes not located near the coffee giant. Zillow reports that since 1997, homes located near a Starbucks appreciated 96% – whereas homes located farther away appreciated at a much lower rate – only 65%.
In my opinion, the Starbucks study is quite interesting – but would I ever encourage a buyer to purchase a home simply because it is located near a Starbucks – or believe the home is a good investment because of its proximity to the coffee chain? Likely not. I take the study's findings with a grain of salt – but it is interesting nonetheless – and at the least, the added equity can help offset a homeowner's expensive latte habit…
Here's the link to the report in the Huffington Post: