The 6 Best Businesses to Live By
home equity articles and tips
"Location, location, location" is a cliché for a reason in the real estate world, but it hold true. Where your property is located--and what businesses are nearby--will determine how your home appreciates. Obviously, a home near a smelly factory or a noisy junkyard would have a low value, but there are some businesses that are actually good for properties to be near, like the ones below.
Now you can have your hummus and eat it, too. Living within a mile of a Trader Joe's will do a lot for your coziest asset. It's been found that when a Trader Joe's opens in your neighborhood, houses nearby will appreciate up to 10 percent faster than other houses further away. Money isn't everything, though; living near a Trader Joe’s means you're only minutes away from a satisfying spoonful of cookie butter.
It's called the 'Starbucks effect'—not the little twitch your eyelid develops after your third espresso Americano, but the boost the coffee establishment gives to surrounding homes. Starbucks has also given the coffee industry a new cachet, which means the bottom line for premium coffee goes up no matter who's selling it. Premiums for America's favorite bean are predicted to continue getting higher, meaning the housing market near Starbucks may increase.
Millennials will likely remember Target as a place to buy work pants for flipping burgers in, but as this new generation of real-estate seekers peruse the market, they see that there's more to the retail giant than black polyester.
Homeowners who sold in 2015 enjoyed an average increase of 27 percent on the original purchased price of their homes. On the other hand, Wal-Mart proved to be a less lucrative target. Homeowners near this superstore who sold in the same year only saw a 16 percent increase on average to their original buying price.
Touching up the yard is a great way to nudge your home's value upward 5 to 15 percent. Often, this investment is worth it just to inspire a bit of friendly competition between you and your neighbors. Sometimes keeping up with the Joneses is a great way to improve the infrastructure of your neighborhood.
It's no secret that places like San Diego, California, and Norfolk, Virginia boast steep entry level prices for the average real-estate shopper in the area, but it also isn't a secret that the military offers a basic housing allowance that accommodates its members' rent bills.
Property near military bases, particularly naval bases, offers owners a constant stream of dependable tenants who are guaranteed the ability to pay their rent. You'll find these folks live light, and are often gone for more than six months out of the year, making them an easy burden for their renters to shoulder.
Bed, Bath & Beyond
For those who already own a home or rental property, sometimes it only takes a few cheap fixes to improve its value. Painting, sprucing up your kitchen and updating your windows are some fast and easy ways to increase value when you would rather not spend too much, and being near a Bed, Bath & Beyond or a Home Depot can make this process more convenient.
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