Homeowners, and home buyers, are always keeping an eye out for events that will impact the value of homes I their area (positively or negatively); and oddly, the proximity of a Whole Foods or a Trader Joe’s has a positive impact on the value of homes. This fact does not reduce the impact of factors such as quality of local schools or distance of commute, it is simply another thing to consider when buying a home. The question is, which grocery store increases value most? This question is particularly relevant to home owners and buyers in Sherman Oaks California, because Whole Foods is planning on opening a new branch there.
By way of background, a study was conducted comparing a German chain, popular for its low prices, named Aldi (these stores are located all over the country, including Southern California). Between 2014 and 2019, property values of homes close to Aldi stores increased by roughly 42%.
Similarly, during the same period, property values of homes close to Trader Joe’s (the most expensive store) increased by roughly 33%, and homes close to Whole Foods (which is the Goldilocks of pricing in this setting) rose by approximately 31%.
While purchasing a home near an Aldi is a wise choice (you’re looking at a 62% ROI), Whole Foods and Trader Joe’s provide a 31% and 35% ROI respectively (if you are holding the property for a longer period of time the ROI is 41% and 51% respectively, but this could also be a function of owning your home for longer).
At the Chernov Team we understand that knowledge is power, and knowledge of how to simultaneously improve your chances of getting a great ROI and eat healthy is powerful knowledge indeed. At the Chernov Team we know that whoever comes to the table most prepared leaves with the most, and the Chernov Team always leaves the table with the most.