Surfing Inside Crashing Wave

Story Idea—Parks, Surf Breaks and Walmart: How Do they Affect Home Values?

Surfing Inside Crashing Wave

Most homeowners know that certain features can increase the value of a home. A finished basement, a large yard and a good school district, can not only lure potential buyers but also bring in more money. According to the National Association of Realtors®’ consumer website HouseLogic, there are plenty of other surprising features that can add thousands of dollars to a home’s value.

HouseLogic identified nine neighborhood and home features that could bring in more cash from potential buyers. For example, spots containing surf breaks (areas in the ocean where surf-able waves occur) can add more than $100,000 to homes within a mile. Nearby parks—especially natural areas and golf courses—have the potential to add up to $10,000 to a home. And considering the difficulty for some to make a quick stop at a grocery store, studies have shown that living within a mile of a Walmart could raise home values by 1 to 2 percent (or $4,000-$7,000 for the average U.S. home).

Story Springboard

Check out HouseLogic’s piece on surprising home value boosters to see the full list and how much each could add to home values. Research how prevalent these features are in your community and talk to a local Realtor® to learn if home values jump in relation to those features.

 

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Each month, NAR produces a few story ideas for the media, presenting timely topics accompanied with background information and facts related to the real estate market. These housing and real estate story ideas are designed to help media generate content for news stories, hopefully serving as a helpful resource to those in the media looking for stories or new angles.