Today I’d like to discuss a few different ways that a home’s location can make a difference when you’re in the market to buy.

At 0:28 in the video above, you’ll see two different homes that were built by the same builder. They have the same floor plan, with only a few slight changes as far as exterior upgrades go. Chances are that you’d guess one costs more than the other simply because of the better picture. One of the homes was built in Chandler, and the other was built in Gilbert, so they’re within 10 miles of each other. When they sold, one sold for about $100,000 more than the other, and the differentiating factor was the more expensive home’s location.

According to The Washington Post, homes close to a Target sell for 5% more on average than other homes. Forbes said that homes within a quarter-mile of a Starbucks appreciated 4.5% more than the average home. Other location-based factors to take into account are neighborhood amenities, proximity to freeways, commute time, etc.

If you’d like to learn more about factors that affect a home’s price or you have any other real estate questions, don’t hesitate to reach out to us. We’d love to hear from you.