Is a view not worth anything these days?
Discussion
boyse7en said:
This place http://www.rightmove.co.uk/property-for-sale/prope... has been derelict for years.
Sold for £1.4 million this year
Purely down to the sea views.
Knew it would be this place before even clicking, just around the corner from me!Sold for £1.4 million this year
Purely down to the sea views.
On a related but different note, similar stuff happens in London. EAs seem to go on location and square footage, not aspect. So our house was not valued differently to another of the same type on the same street. They have a view of a council block, our had a view of the park.
Ours sold in a week. The other is still up for sale a year after being put onto the market (admittedly ours was newly refurbishbed, and we lowballed the price to move it quickly as we were on a deadline for final bids on the place we wanted). We probably could have got £50-75k more had we had more time.
SImilarly, the house we bought was on at a comparable price to houses with views of other houses - yet this one has a totally secluded, non-overlooked garden and views out over treetops into the distance. That really sold it to us.
A view was worth something to us and to our buyers - but not to the EA.
Ours sold in a week. The other is still up for sale a year after being put onto the market (admittedly ours was newly refurbishbed, and we lowballed the price to move it quickly as we were on a deadline for final bids on the place we wanted). We probably could have got £50-75k more had we had more time.
SImilarly, the house we bought was on at a comparable price to houses with views of other houses - yet this one has a totally secluded, non-overlooked garden and views out over treetops into the distance. That really sold it to us.
A view was worth something to us and to our buyers - but not to the EA.
Harry Flashman said:
On a related but different note, similar stuff happens in London. EAs seem to go on location and square footage, not aspect. So our house was not valued differently to another of the same type on the same street. They have a view of a council block, our had a view of the park.
Ours sold in a week. The other is still up for sale a year after being put onto the market (admittedly ours was newly refurbishbed, and we lowballed the price to move it quickly as we were on a deadline for final bids on the place we wanted). We probably could have got £50-75k more had we had more time.
SImilarly, the house we bought was on at a comparable price to houses with views of other houses - yet this one has a totally secluded, non-overlooked garden and views out over treetops into the distance. That really sold it to us.
A view was worth something to us and to our buyers - but not to the EA.
In my opinion a view is worth something: that would be in money terms or it could be in the time it takes to sell the place. Ours sold in a week. The other is still up for sale a year after being put onto the market (admittedly ours was newly refurbishbed, and we lowballed the price to move it quickly as we were on a deadline for final bids on the place we wanted). We probably could have got £50-75k more had we had more time.
SImilarly, the house we bought was on at a comparable price to houses with views of other houses - yet this one has a totally secluded, non-overlooked garden and views out over treetops into the distance. That really sold it to us.
A view was worth something to us and to our buyers - but not to the EA.
Of course if there were two places: same price, same size, condition, design inside & standard of fit/finish then of course the house with the view would sell quicker.
However if the all of the above was the same but the price was more for the better view. I am not sure how much more it would be worth, 10% more? I am not sure. maybe between 1-5%.
I guess like they say, all you need is one buyer, all you have to do is wait for them.
j4ckos mate said:
Im not keen on a sea view certainly not in the uk anyway
no frost no green no sun or shade no lights at night just a mass of grey, like a tarmacced area
i think it depends on where you are looking at...no frost no green no sun or shade no lights at night just a mass of grey, like a tarmacced area
A view of the Atlantic with cliffs and trees and sunsets is probably a bit different that a view onto the North Sea in a flat area with few features
But that is highlighting the economic argument around what type of buyer the OPs house is intended for. Tourists will desire a view and bid up for it, a local worker, unless mentally ill, is going to have far more important priorities for that money have have little interest in any significant premium for a view.
On the subject of London cityscape views tend to command more than parkland ones. Many people have security concerns with regards to their land opening out into public land in more urban environments. Plus, few urban buyers rate a positive view as a key priority over other aspects. A 'negative view' has far more impact. Overlooking a sink estate will have a much bigger negative impact that over looking a park a positive one. And as pointed out, thebmarket focusses on what's inside the walls not outside anyway so a view is likely at best to impact speed of transaction rather than value.
On the subject of London cityscape views tend to command more than parkland ones. Many people have security concerns with regards to their land opening out into public land in more urban environments. Plus, few urban buyers rate a positive view as a key priority over other aspects. A 'negative view' has far more impact. Overlooking a sink estate will have a much bigger negative impact that over looking a park a positive one. And as pointed out, thebmarket focusses on what's inside the walls not outside anyway so a view is likely at best to impact speed of transaction rather than value.
clockworks said:
We went to Rick Stein's chip shop (not the proper restaurant) in Padstow a couple of years ago. The prices were about a pound higher than the other chippy on the harbour. Massive queues, which maybe had a bearing on the quality of the food. It just wasn't as good as the other chippy. It's all about the branding, rather than the product....
I preferred Chips Ahoy round the back for quality of food. Lovely fnc.I like Padstow, but a number of the shop owners are getting too stuck up for their own good. I didn't find it the friendliest place.
Favourite restaurant with kids in tow is Rojanos.
clockworks said:
...
Mum was interested in a bungalow just round the corner from me. A 2 bed that's been extended by converting the garage into a reception room. It's on the main road, and has a tiny garden. The house next door is derelict (roof taken off a couple of months ago, surrounded by hoardings), so a bit of an eyesore until works starts again. It's on the market at £265k. The houses either side of me have both sold in the past 2 years, for not much more. Bigger houses (4 bed and 3 bed) on bigger plots. The area hasn't changed, but Porthleven (5 mins away by car) has, and that's pushing the market upwards. Remains to be seen if it will actually sell at that price, or if the agents are just speculating.
Going by that £265k valuation, my house must be "worth" £300k+. I paid £205k 6 years ago, against an asking price of £225k.
I appreciate that mum has to be realistic, it's only worth what someone will pay for it. It was valued at £325k 3 years ago, by one of the agencies that visited on Monday.
You can't moan about prices going up and being unaffordable whilst also wanting another 10% for your mum's place Mum was interested in a bungalow just round the corner from me. A 2 bed that's been extended by converting the garage into a reception room. It's on the main road, and has a tiny garden. The house next door is derelict (roof taken off a couple of months ago, surrounded by hoardings), so a bit of an eyesore until works starts again. It's on the market at £265k. The houses either side of me have both sold in the past 2 years, for not much more. Bigger houses (4 bed and 3 bed) on bigger plots. The area hasn't changed, but Porthleven (5 mins away by car) has, and that's pushing the market upwards. Remains to be seen if it will actually sell at that price, or if the agents are just speculating.
Going by that £265k valuation, my house must be "worth" £300k+. I paid £205k 6 years ago, against an asking price of £225k.
I appreciate that mum has to be realistic, it's only worth what someone will pay for it. It was valued at £325k 3 years ago, by one of the agencies that visited on Monday.
It does make me laugh people doing this down there - if you really want things to be affordable for locals, why not stop selling your houses for top dollar to non-locals 
By all means try the higher price, just go in eyes open and being honest with yourself about the risks of doing so.
technodup said:
I can't imagine anything more boring than a sea view tbh. There's nothing there but greyness. I certainly wouldn't pay extra for it.
you haven't seen the right sea view then, adds about £250-300k to the value of one side of the street to the other.Grey sometimes but never boring really....
Edited by VvrooomM on Thursday 28th September 17:55
I'd prefer a stable market, gradual increase over time kind of thing. When some areas shoot up, and others barely keep up with inflation, it makes moving tricky.
I don't have a problem with incomers in general (I'm from London, moved to Cornwall 20 years ago), just the prevalence of second homes in places like St. Ives has gone a bit too far.
Mum has had a think about her situation, she will stay where she is for now. She likes the house and the view, just worrying about the growing balance of the equity release mortgage versus the value of the house, plus feeling down since dad died at Easter.
I don't have a problem with incomers in general (I'm from London, moved to Cornwall 20 years ago), just the prevalence of second homes in places like St. Ives has gone a bit too far.
Mum has had a think about her situation, she will stay where she is for now. She likes the house and the view, just worrying about the growing balance of the equity release mortgage versus the value of the house, plus feeling down since dad died at Easter.
VvrooomM said:
technodup said:
I can't imagine anything more boring than a sea view tbh. There's nothing there but greyness. I certainly wouldn't pay extra for it.
you haven't seen the right sea view then, adds about £250-300k to the value of one side of the street to the other.I would love a sea view or river view and would if i could pay more for it. Even if it can be grey theres still lots going on, i love how you can actually see the weather iykwim.
Hills, woodland etc is nice but for me there would be too much risk of development happening and totally spoiling it.
Hills, woodland etc is nice but for me there would be too much risk of development happening and totally spoiling it.
Get the agent to list the house for the money you want for it. My neighbour was told to sell her house for £55k less than she eventually sold it for, after she stuck it on the market £65k above what agents recommended; she was inundated with offers. The agents had simply looked at what houses had previously sold for on the road and not accounted for it's condition/size/price rises over the last 5 years.
It's her home, she can define what to sell at :-)
It's her home, she can define what to sell at :-)
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