Your House Is worth More If You Live near a Starbucks
You know we love us the Starbucks, but it looks like it's not just their customers who get a caffeine jolt from their venti lattes, the property values near Starbucks also get a kick from them.
A new study out shows that when Starbucks moved into neighborhoods, home values in those areas jumped, on average, 96 percent between 1997 and 2014. Some real estate experts say homes where Starbucks chooses to open are generally already on the higher end of property values, but some neighborhoods where Starbucks put stores were considered up-and-coming, leading to the so-called 'Starbucks Effect'. Real estate experts say that's when property values rose because other retailers saw Starbucks moving into the area, and that led to other higher end stores opening up soon after.
So, what can we learn from this study? That lattes really are magical! Lattes for everyone!