Don’t Buy a Home on Butt Ave: The Impact of a Funny Street Name on Home Value
Turns out, houses on funny street names are worth considerably less than properties found on streets with normal names.
A research conducted by Victorian high school students alongside staff from the Australian Bureau of Statistics, the University of Sydney and a Melbourne real estate agent.
The study found that:
- Properties on streets with eyebrow-raising names sold for around 20% less than those located on neighboring streets,
- One third of respondents would not want to live on a street with a funny name,
- The “silly name effect” was more prevalent in the capital city suburbs than in regional areas
- Price discrepancies were greater in lower-priced properties than more expensive ones
Real estate expert Nicole Jacobs said home buyers may use this to their advantage. While some would eliminate a perfect home located on a street with a humorous name, a savvy buyer could see it as an opportunity for a great:
“If you find your dream home on a street with a funny name, you’re not going to eliminate it. I certainly wouldn’t eliminate a good home based on the street name, but people are funny.”
We agree! Maybe a way to get a deal, combined with recent low interest rates… you may be in luck to find and purchase a nice home at a discount.
Find homes on funny (and other regular street) names in Nevada, California, Arizona, and Colorado with SnapFi’s HomeScout App:
