What’s In a View? More Money?

Published by julia | Filed under Buyer / Seller Tips, Market Trends, Miscellaneous, Real Estate, Shout Outs

When it comes to pricing a piece of real estate, the view the home has often drives the price of the home up. But when establishing the price of the home, how do you place a monetary value on a view? When establishing what a potential home buyer should pay for a view there are certain categories you can look at to place a definitive amount of money on that view.

What Does the Homebuyer See?

The first thing to take into consideration when establishing the value of the view is the content of the view. What is the home buyer looking at at? Not every view is worth more money.

This question may be the only question you need to ask. If the home has a view of land filled with factories the value more than likely will not increase. However, if the home has a view of the ocean you can bet the price will be higher than homes without that view.

How Much of the View is Seen From the Home?

Another question to ask is how much of the view is actually seen from the home? If the home buyer looks out the window and sees a small amount of the ocean in the far distance; while the proximity to the ocean will increase the price of the home, homes closer to the ocean will see an even greater price increase. This leads us to the next question in valuing a view.

How Close is the Home to the View?

In terms of the ocean views, the closer the home is to the ocean the higher the price of the home will be. This same fact goes for mountain views, soundside views and forest views. If the view is beautiful, the closer the home is to that view the higher the price will be.

Is the View Obstructed?

The final question the real estate appraiser or real estate agent can use to establish the value of a view is the obstruction of the view. If the home view is obstructed by trees or other buildings the price of the home will decrease.

Establishing the proper value of the view can be a huge factor in selling a home quickly. The better the view, the closer the view and the more appealing that view, the higher the price of the home.