Did you know that many households would prefer a community where “houses are smaller and closer to each other, but schools, stores, and restaurants are within walking distance”? Four-in-ten households value proximity to essential amenities over having larger homes. For homebuyers and sellers in competitive real estate markets like Greenwich, CT, identifying key amenities that influence property values can make all the difference.
Whether you’re purchasing a property or looking to sell, neighborhood features play a significant role in driving home appreciation. This article explores amenities that enhance home value and improve the living experience, making certain properties more attractive to prospective buyers.
Fast Facts about Amenities that Increase Home Value
- A park or recreational open space can raise nearby property values by 8-20%.
- A study by CEOs for Cities found that walkable access to schools, parks, stores, and restaurants can increase home values by $4,000-$34,000.
- New sports stadiums can boost property values by $2,214 within a 2.5-mile radius.
- Streets with mature trees increase home values by 3%.
- 35% of children aged 0-17 benefit from living near a park, playground, community center, library, or walking paths.
Key Amenities That Drive Home Value
Walkability
Homes in walkable neighborhoods are in high demand, and buyers are willing to pay a premium for the convenience of being close to essential services. Walkable areas feature sidewalks, local businesses, parks, and public transportation, making them valuable home selling points. Studies show that proximity to walkable amenities can result in significant property value enhancers, making walkability a high-return home addition in today’s real estate market.
Mature Trees
Streets lined with mature trees offer more than aesthetic appeal. These real estate value boosters contribute to environmental benefits, such as better air quality and shade, while increasing curb appeal. Properties in neighborhoods with lush tree cover experience an average increase of 3% in value, making this an important property enhancement for sellers to consider when marketing their homes.
Proximity to Retail and Essentials
Living near grocery stores, pharmacies, and shopping centers offers practical convenience and attracts buyers with its upscale features. Homes with easy access to retail options rank higher among high-demand home attributes, as they minimize commuting time and improve daily life. Retail proximity is especially valued in markets like Greenwich, CT, where convenience is essential to property desirability.
Dog Parks
For many buyers, access to pet-friendly spaces is a major selling point. Dog parks, in particular, appeal to families and individuals with pets, offering a luxury inclusion that strengthens neighborhood appeal. These premium property additions not only enhance the lifestyle of pet owners but also increase property values, especially as the number of pet-owning households continues to rise.
Future Developments
Neighborhoods with planned developments, such as new parks, retail centers, or public transit improvements, are viewed as attractive investment opportunities. Buyers looking for investment-boosting amenities are drawn to areas where future growth promises value appreciation. Keeping track of future developments can serve as a key property differentiator for buyers who want homes in evolving neighborhoods.
Resort-Style Amenities
Upscale neighborhoods with features such as pools, fitness centers, and clubhouses provide luxury inclusions that appeal to buyers seeking a premium lifestyle. These amenities act as home improvement factors that raise the desirability of homes, especially in markets targeting high-end buyers. Resort-style amenities serve as valuable home extras that enhance living standards and function as ROI-driven property upgrades.
Historic Homes
Historic homes add character and charm to a neighborhood, making them a significant factor in property value. These residences often boast unique architectural features and rich histories, attracting buyers who appreciate aesthetics and storytelling. Investing in a historic home can come with certain restrictions regarding renovations and improvements, but these properties typically appreciate well over time due to their uniqueness. They also contribute to the overall appeal of a community, making them key property differentiators for buyers seeking a distinctive living experience. Homes in historic districts often benefit from proximity to cultural landmarks, enhancing their attractiveness as desirable neighborhood features.
Community Activities
Active community engagement can significantly elevate property values. Neighborhoods that offer a variety of organized events—such as farmers' markets, festivals, and outdoor movie nights—foster a sense of belonging among residents. These activities enhance the quality of life and contribute to a vibrant atmosphere that appeals to potential buyers. Properties in areas with a strong sense of community often command higher prices, as they represent investment-boosting amenities that promote a friendly and inviting environment. A thriving community culture can increase demand, making homes in these neighborhoods highly sought after.
About Roseann Benedict
Born and raised in Greenwich, CT, Roseann Benedict has an in-depth understanding of the local real estate market. She is committed to providing clients with seamless, results-oriented experiences as they navigate buying or selling homes. Known for her strong work ethic, Roseann’s role extends beyond typical real estate transactions. She combines a deep knowledge of the market with up-to-date technology and social media tools, ensuring her clients have access to the latest market insights. With nearly 20 years of experience, she has built lasting relationships with her clients, many of whom return year after year for her trusted expertise.
Ready to explore real estate in Greenwich, CT? Contact Roseann Benedict today to begin the search for your dream home.
