Beyond proximity to schools and hospitals, there's another--more surprising--factor U.S. house hunters can now use to choose where to buy. The unusual home value consideration? Whether the home is close to a Trader Joe's or a Whole Foods store.
A recent study by real estate information company RealtyTrac looks at whether it's more beneficial to buy near a Whole Foods or a Trader Joe's.
The firm analyzed home values, property taxes and home value appreciation in U.S. zip codes that include one or the other grocery store chain.
In zip codes with a Trader Joe's, the average property values are higher. Also, homeowners there have seen an average 40 per cent gain in home value compared to an average 34 per cent gain for homeowners in zip codes with a Whole Foods.
The downside for the zip codes with a Trader Joe's is they face a higher cost of property taxes.
The study was conducted by analyzing home values and property taxes for 1.7 million homes, condos and co-ops in 188 zip codes with at least one Whole Foods store (and no Trader Joe's stores). It looked at the same factors for 2.3 million homes, condos and co-ops in 242 zip codes with at least one Trader Joe's (and no Whole Foods stores).
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