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    Real Estate you should know

    How Proximity Affects Your Home Value

    Location, location, location.  You’ve definitely heard how important this is in real estate — and that's because it's...

    • Susana Murphy
    • February 26th, 2020
    • 4 min read

     

     

    Location, location, location. 

    You’ve definitely heard how important this is in real estate — and that's because it's true! Location is a crucial factor when it comes to the value of your home. Not only does what part of town you are in matter, but what is physically near you can actually help or hinder your property value. We put together a list of the most important proximity factors that will increase as well as decrease your home value.

    Factors that increase home value

    Schools

    Homebuyers who have children are willing to pay more to live in a home that is closer to schools, especially ones that have a good reputation and high academic scores.

    Entertainment

    In most cases, homes that tend to be in walking distance or a short drive from entertainment opportunities like a movie theater, golf courses, and parks usually sell for more money than homes farther away.

    Shopping

    Homes with a close proximity to grocery and shopping stores usually sell for more. Being close to a popular grocery store like Whole Foods has shown to increase your home value and having a 24-hour Walmart less than half a mile away has shown value increases of 2-3%.

    Outdoor Recreation

    Having great scenery and access to outdoor recreation like the ocean, lakes, rivers, and parks usually increase a home’s value.

    Sought-After Views

    Depending on where you live, things like cityscapes, mountains, or golf courses tend to increase value and even help sell your home faster.  

    Starbucks & Dunkin

    We all love a good cup of joe in the morning, especially if you like to make a quick stop on the way to work. According to Forbes, homes that are within a quarter-mile of a Starbucks, have appreciated 96% while homes near Dunkin Donuts have appreciated 80%.

    Factors that decrease home value

    Power Plants

    Aside from being an eyesore, toxic emissions released from power plants will not only decrease the air quality but the value of your home. In fact, the University of California at Berkeley has found that homes within 2 miles of power plants could be worth 3-7% less.

    Busy Areas

    Although being close to railroad tracks, airports, and busy intersections is convenient for when you need to leave, it can be pretty noisy when you are at home which could drop the value of your home. 

    Crime

    Areas and neighborhoods with higher crime rates tend to decrease home values. The American Economic Review has found that if a registered sex offender were to move into your area, it could reduce your home value by 12%.

    Low-Rated Schools

    As we said above, the top-rated schools are a big priority for some home buyers so homes located in areas with a low-ranking or closed down school could result in a home value reduction of up to 22.2%.

    Cemeteries & Funeral Homes

    Whether you believe in ghosts or not, the thought of living near a cemetery or funeral home is a bit eerie. According to Realtor.com, homes with a cemetery close by could be priced 12% less than homes in other nearby areas.

    Hospitals

    You may think that being right around the corner from a hospital is a good thing in the case of emergency, but with hospitals comes ambulances and sirens. And there’s no telling what time of day or how many times a day you might hear these noises. Hospitals in close proximity have decreased home values by around 3%. 

    Get your home’s accurate value.

    Instead of a robot and algorithm, we use our experience and up-to-date MLS data. 

    Get Started

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    About the author

    Susana Murphy

    508-345-5632
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    I'm Susana Murphy, and I founded ALANTE with a clear vision and a passion for redefining what real estate should be. Let me share with you why ALANTE exists, what we stand for, and what we aim to offer both our valued clients and our dedicated agents. ALANTE Real Estate wasn't just a business venture for me—it was a calling born out of a deep-seated belief in doing things differently, and doing them better. Having been in the real estate industry since 2005 myself as a top producing Realtor, I saw firsthand the immense potential for innovation and improvement. I recognized that traditional practices were falling short in meeting the evolving needs of clients and agents alike. My vision for ALANTE was simple yet profound: to elevate the real estate experience by combining cutting-edge technology combined with story driven marketing and timeless values. In an industry often defined by transactions, I wanted to focus on service. I wanted to create a space where clients felt heard, valued, and supported every step of the way, and where agents could thrive in an environment that prioritizes collaboration, growth, support and integrity. At ALANTE, we believe in offering our clients more than just transactions—we offer them transformative experiences. We understand that buying or selling a home is not just a financial decision; it's an emotional journey filled with dreams, aspirations, and life-changing moments. That's why we approach each interaction with empathy, expertise, and a genuine desire to exceed expectations. For our agents, ALANTE is more than just a brokerage—it's a community of like-minded professionals committed to excellence. We provide our agents with the tools, training, and support they need to succeed, all while fostering a culture of mutual respect, collaboration, and continuous learning. We believe that empowered agents create exceptional experiences for our clients, and that belief is at the core of everything we do. In an industry that's constantly evolving, we remain steadfast in our commitment to innovation and adaptability. We embrace technology not as a replacement for human connection, but as a catalyst for enhancing it. From advanced marketing strategies to streamlined processes, we leverage technology to enhance efficiency, transparency, and results. We don't just meet industry standards—we set new ones. We believe in raising the bar and redefining what it means to be a leader in real estate. Our dedication to excellence, integrity, and client satisfaction sets us apart, and it's what drives us to continually push boundaries and exceed expectations. So, whether you're a client looking for a personalized, unparalleled real estate experience or an agent seeking a supportive, forward-thinking brokerage, we invite you to join us on this extraordinary journey. Together, we're not just reimagining real estate—we're elevating it to new heights. Welcome to ALANTE Real Estate, where your vision meets our passion.

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