What's a view worth?

A view can either add to a property's value (eg ocean views) or detract from a property's value (eg view of a rubbish tip). Even if the one with tip views was $100K cheaper, I would still prefer the one with ocean views.

One could spend $100K and "build a killer outdoor entertaining area, landscape an amazing garden, build a beautiful verandah with kitchen and fireplace, ...' on the property with tip views but I would still prefer the one with ocean views .

 

Views will appeal more to the home owner market as it can trigger emotions.

The investor will typically not take on this because they have to pay more for the place and their rent would be somewhat similar to the one without the view.

The views is because of sacristy value (same as land), if you look at an apartment block that was built that had water views and 20 years later another apartment block was built in front of it the value of the rear one dropped significantly.

If you buy something with absolute waterfront (cannot be built in front of) this land is so valuable as the owners will never lose their views and as such will command a higher price when selling in now and in the future.

Just look at the Gold Coast to get an idea of do views make a difference, there is that many apartments there but the ones on the ocean side are worth more than the forest side even though they both have views the ocean is worth more than trees.

 

@stuffo

Here is the view from the other side of the bridge. As you can see the bridge is full of traffic from the morning rush hour but we don't hear a thing.

When we first purchased the property it took way longer to do renovations as we would just sit and take in the view rather than work lol.

As we face south so when southerlies come through it can get very windy and also it's a bit cold in winter as we don't get any winter sun.

 

Is a view like an opinion? Everybody has one, their not all the same.

Mine's worth 2 cents

 

Well a views gotta be worth something otherwise agents wouldn't try an pump up their listings with phrases such as:
Water gliimpses
Potential views with a 2nd storey addition
etc, etc
If the view is not clearly evident without looking for it, it's usually rubbish.

 

It's worth what the other side is willing to pay.....and that is an emotional equation

 

It's also about the scarcity - views go with 1) water or 2) city lights, or 3) pure height.
They're aren't making more right-on-water land near city centres, so water views is usually a plus (ignoring new canal developments which are somewhat based on newness and not just water, and ignoring the older sewer-like canal developments where people don't want to be!).
Either city or pure heights are good as they both get better air and better light quality than ground-floor - and that ignores whether you like the view or not. Oh, and for those who like them they are worth more during fireworks displays .

 

B Bay ?

Used to live there, surprised it has not gone up as much as I expected when I looked recently.

Now if you two can kindly stop sharing images before my boss sees them and starts to work on me to move back.

 

A view is always worth more, having a nice, pleasant outlook, or even an outlook at all is going to be better than none at all, agree with Gockie you can always improve a place that starts with a view, but you can't usually manufacture a view.

A good example of a view that may not be worth much is in an area of Orange we like, one side your outlook is a sea of rooftops with little vegetation or space between dwellings, the other side of the hill is a rural outlook with places on 1 or 5 acres or above, you can get an elevated block on the side looking at a sea of roof tops for approx 50% less.