When you go through your local Starbucks drive-thru for your Pumpkin Spiced Latte, your Frappuccino, or whatever you prefer for your morning cup of #basicness; have you ever stopped to think that it could be making an impact on your homes value?
Yeah…me neither! BUT…we would be wrong!
Harvard Business school has recently completed research to see if having a Starbucks nearby increased home values in the area. Students used Yelp and the zip code of the location to help with their data research and determined that having a Starbucks nearby does increase home values by a few thousand dollars!
This is now dubbed, “The Starbucks Effect”.
Researchers determined that it’s not just Starbucks, but also grocery stores, cafés, and other restaurants nearby all will generate a slight value increase in houses in the surrounding communities.
So, the next time you hear that a new Starbucks is going up nearby, don’t fret over the increased flow traffic, or your uncontrollable desire to spend $7.00 on a cup of the most wonderful Joe on the planet, simply take comfort in the fact that with every last drop consumed, your homes value increased just a little bit more!