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There are a number of factors you want to take into consideration when buying a house but location is one of the most important things you can focus on when making one of the biggest purchases of your life.
I live in New York City and write on the internet for a living so it’s going to be a while before I have to really worry about property values. However, if you’re currently in the market for a home and have an affinity for craft beer, I’ve got some great news for you.
According to Study Finds, a group of researchers at the University of Toledo recently took a long, hard look at real estate in Charlotte, North Carolina, where 21 craft breweries opened over the course of seven years beginning in 2009.
While some people might think good schools are all the rage, the study found craft beer had a pretty significant impact on property values—especially for people who own a house:
They found that condominiums in the central part of Charlotte showed a three-percent increase in sales value after a brewery opened a half a mile away or closer, while single-family homes in center-city neighborhoods increased in value by 10 percent.
Dr. Neil Reid, who led the study, provided some insight into exactly why breweries are so hot in the streets, saying:
“Being able to walk to a craft brewery in the evening or late afternoon on the weekend is considered a positive amenity that would – for some people – be attractive when looking at a house.
There is a different attitude toward a craft brewery. It’s perceived differently than a liquor store or bar.”
I currently live within walking distance of one of the best breweries in the country, and while it’s certainly a nice perk, I’ve also spent far too much money on four-packs of laughably over-hopped IPAs just because I happen to be in the vicinity.
So sure, living near a craft brewery might increase the value of your property but you should be warned your wallet won’t necessarily be happy about it.