Let’s say you have a beachfront property or a house on a hill in the Northern Beaches area. Have you ever asked yourself: Will my house go up in value? How much is an ocean view worth? How much value does a lake view add?
Well, you have every reason to ask these questions because, in matters of real estate, a special view always counts. So, if you have a home with a view or partial view of the beach, ocean, lake, national park, or any sort of unique, pleasant private outlook, protect it at all costs.
Based on the view, how much do houses appreciate?
To give you a rough idea of how much of a difference a great view can make on the price of a property, take note of the following figures gathered through a survey conducted by Matusik Property Insights:
Unobstructed view from ground level: 3% to 5%
Partially obstructed view from the rooftop: 6% to 8%
Unobstructed view from a medium height: 9% to 12%
Unobstructed view from a high elevation: 15% to 25%
Unobstructed water view: 30% to 80%
So, a pleasant or outstanding view is part of what gives a house value, although there is a general consensus that properties with ocean views tend to command premium prices.
How do you maximise a property view?
Before thinking of maximising your property view, conduct due diligence and speak to the local council first. Inquire about height restrictions and find out if any neighbouring blocks are zoned for apartments. You wouldn’t want to lose your view, so make sure that local building regulations are in place to protect it.
Once you’ve determined the security of your property view, you can enhance and make it the focal point of your home. Whether your view is that of a lake, valley, park, hillside, beachfront, or an enviable vista of your neighbourhood, use it as the centrepiece of your property. Whatever precious view you have should inform the design and details of your home.
Use plenty of glass to emphasise the view and orient your furnishings in such a way that everything — from your furniture to the fabrics and finishes — works to focus attention on the view.
Other than the view, what makes property value increase?
There are plenty of other factors that influence property value. These include the location, size, usable space, renovation potential, updates and upgrades, prices of comparable properties in the same area, age of the building, to name just a few.
So if your property ticks all the right boxes, it will still be highly marketable — with or without a magnificent view.
Unique views at the Northern Beaches
The Northern Beaches is well-known for its beautiful coastline, bushland, and hill views. You’d be lucky to have a home in the following places with picturesque views:
Beachfront views: Curl Curl, Freshwater, Queenscliff, and Manly
Bushland/valley views: Allambie Heights, Beacon Hill, and Naraweena
Garingal National Park views: Belrose, Davidson and Frenchs Forest
Ocean views: Collaroy Plateau
Lake views: Narrabeen and North Narrabeen
Middle Harbour views: North Balgowlah and Seaforth
But if your property has no view, how would you market it?
If your place is close to the beach, you can talk about your property being a few steps or just minutes away from the beach. If it’s close to a community park, focus on that. What’s important here is highlighting what you know would make a prospective buyer want to live in your property.
You can also work on making your backyard or garden more attractive. You can add interest to fences or window scenes by installing a walled garden or putting up a mural as part of the interior design. You can also include quality upgrades to your property by installing a smart home system or renovating the kitchen and including new appliances and fixtures.
The possibilities for making your home a highly desired living space are endless. Give us a call if you’d like some advice on how to make your property more marketable.
THINKING OF SELLING YOUR PROPERTY?
LIVE ON THE NORTHERN BEACHES?
Read our report on how to have a successful home sale, even within these unusual times of COVID-19.