We all know how important location is when buying a house, and there are so many aspects of location to consider: proximity to shops and services, the best schools, public transit, recreation, highways… these are just a few of the things we may take into account, but what about a view? How important is a view, will it cost you more, and will it help you to re-sell when you decide to move on? Here we consider the pros and cons of buying a home with a view.
What Constitutes a View?
First let’s get things straight – what constitutes a view? Well, for different people a ‘view’ can mean different things. One person’s idea of a great view may be a home that overlooks the ocean, while someone else prefers a lake or river. Basically any kind of scenic vista is usually considered to be a good view – mountains, hills, forests, vineyards. Then there are the man-made views – the city skylines are the most popular of these, whether it’s on the outskirts of the city, or a penthouse apartment in the midst of it all, these can provide fabulous views if you like that kind of thing.
Does a View Home Cost More?
There is absolutely no doubt that a home with a view will cost you more to buy, but how much more depends on where it is and how desirable it is. Of course, overall location plays a prime part in deciding how much a home or apartment costs. For example, a city view of Manhattan is obviously going to be far more desirable than a city view of Portland. And likewise, if your view is of the Rockies rather than a series of unassuming hills, that’s going to cost more too.
Is a View Home Worth the Extra Cost?
Personal preference goes a long way to answering this question. If you’ve always wanted a home overlooking the ocean then the chances are you will have done your research and you know how much more this is going to cost you. For some buyers, the chance to live their dreams outweighs the additional cost – waking up every morning to the sound of crashing waves and the opportunity to take an early morning stroll along the sandy beach is priceless.
Will Your View Home Retain Its’ Value?
When you’re considering buying a home with a view are you buying it for your own enjoyment or as an investment? Spending thousands of dollars extra because you’re thinking of future value isn’t necessarily a good idea. Your opinion of a great view may not be someone else’s, meaning you could end up losing money if a buyer doesn’t see the view as a major selling point. For this reason, what you pay for the home when you buy it is just as crucial as the purchase price of any other home – don’t get carried away by paying tens of thousands extra and then expecting to be able to sell for the same markup.
Buy a home with a view because you love the view, not because you want to sell it for a premium a few years down the line.
Will a Home With a View Sell Easier?
The answer to this question isn’t straightforward either, as it depends upon so many variables. Overall location is again an important factor – for example, to enjoy that spectacular mountain view is the home hours away from civilization? How rural a home is will affect both its price and its saleability. Of course, the mountain view is gorgeous, but finding a buyer who’s happy to live that rurally will be a challenge.
On the other hand, if you’re buying an ocean view home that’s within easy reach of a major town or city your chances of selling it quickly and for a good price are far better.
So What’s the Conclusion?
As I said earlier, it really comes down to personal preference.
If you have always dreamt of a mountain view then you may want to pay a little more to get that view and enjoy it, but you need to go into the buying process with an open mind. Not everyone is going to like a rural location, so make sure you don’t spend too much extra on the home with the view over the home in the same location that doesn’t have the view. You cannot always guarantee that you will get that markup back when it comes time to sell.
It also depends upon how long you are planning to stay in the home – if your plan is to stay for many years then the extra you pay for the view may not matter. On the other hand, if you know it’s going to be a short term thing you’re taking more of a risk in paying an inflated price. So think about your future plans and consider these when buying a home with a view.