New library at the end of my street, is this good for my home value?

[Kaplin261]

I just found out they are about to start building a new library 1/4 mile from my home at the end of my street, we will have a sidewalk that goes directly to the new library. My wife and I are super excited and we have a 2 year old who will love having this amenity once it's completed.

So what will this do to my home value? The neighborhood my home is in is mostly young families and the neighborhood itself is less than 8 years old. People who move to this neighborhood do so because it's such a family friendly neighborhood. Also worth mentioning there building a panera bread beside the library and a couple small office buildings.

[Bracken_Joy]

Found this link:

http://www.ala.org/research/librariesmatter/node/22

I'm jealous =)

[mskyle]

Found this link:

http://www.ala.org/research/librariesmatter/node/22

I'm jealous =)

Ha, that's what the librarians want you to think! (I'm an ex-librarian who never had a lot of time for the ALA.) I would definitely want to see that actual study to make sure that they're controlling for other conditions like neighborhood density and proximity to shops and things.

Seriously, though, the only downsides I can think of are that public libraries tend to attract homeless people and there might be an increase in traffic. It sounds like a really good thing for you and your family!

[adamcollin]

Yes it will definitely increase your home's value.