Think of the grocery store that stocks up on your favorite foods, or maybe a local clothing store that has become part of your routine...or maybe you live in a city with an expansive metro system. 

Whatever the amenities in your area, the location of your home in relation to them has a distinct effect on the value of your home.

The Basics 

While most people have a preference for a certain grocery store, a recent ATTOM Data Solutions study found that some local groceries boosted housing values more than others. For national homebuyers, the average 5-year home appreciation for properties near an ALDI was 41%, followed by Trader Joe’s at 35% and Whole Foods at 33%. 

What this means is that the choices your local community makes about where they buy their food can greatly impact the value of your home. A new Trader Joe's can have a positive effect and the replacement of a Whole Foods with an Aldi grocery store can even change the value of your home. 

Education 

According to the same study, homes in zip codes with at least one good elementary school have an estimated home value 77 percent higher than those homes in zip codes without a good elementary school. “While good schools are one of the top items on most homebuyer checklists because of the quality-of-life benefit they provide, this report shows that high-performing schools also come with a financial benefit for homeowners in most markets — at least over the long term,” said Daren Blomquist, senior vice president at ATTOM Data Solutions. “Meanwhile, home prices in zip codes without any good schools tend to be more volatile, which might work to a homeowner’s financial benefit in the short term but not over the long term of at least 10 years.” 

In fact, according to Realtor.com, buyers with and without children are united in considering school boundaries an important factor when purchasing a home. Seventy-eight percent of national homebuyers reported that they compromised on wanted features in their new home in order to be near a good school. 

Transportation Necessities 

Public transit can increase the development potential of real estate near high-capacity transit lines and stations, and thereby increase property values. This “transit premium” can range from as little as a few percent increase to over 150 percent depending on the city you live in, and ease of access to this system. Cities from Washington, D.C. to Dallas to San Diego to Portland have seen their transit systems spur robust development and redevelopment in association with these transit systems with dozens of transit lines. 

However, a small system like Pittsburgh's T-Train only has two lines with a direct north-to-south route. Any value that is added to home values by this system is greatly diminished by a lack of access to many important parts of the city. 

Using Know-How to Get the Most Value 

In the end, the most important aspect of purchasing a home for you and your family is that the home itself works for all of your needs. However, keeping future property values in mind when buying can make you a savvy shopper...and earn you a great return on a housing investment down the line. Though it's impossible to know exactly what changes are coming to most communities in the next few years, take a look at the current amenities and growth of your local community and buy based on your lifestyle to get the best possible home for you and your family!