Two houses are in the same neighborhood within the same school districts. Both houses are on about 6200 sq ft of land. One house has 3900 sq ft of living space, 5 bedrooms and 5 bathrooms, but it has no view and the neighboring houses are close together. The other house has 3200 sq ft of living space, 5 bedrooms and 4 bathrooms, but has a fantastic view and no neighboring houses (so more privacy). Which do you think has a higher resale value down the road?
2006-06-26 13:38:23 · 9 answers · asked by K-man 3 in Business & Finance ➔ Renting & Real Estate
VIEW, VIEW. VIEW. It's always about the view.
I bought property (vacation rental) a while back in the Palm Springs area and paid the highest price in the entire community for the type of condo (it's a golf course community). But it had the killer views. Well, when I sold it, it sold for the most of any others of the same plan and it sold in 3 weeks. There were 10 others on the market that have had to decrease the asking price and some stayed on for over 5 months. Granted, there were also killer upgrades but I know it was the views. The views of the mountains added $30,000 according to the appraiser.
2006-06-26 13:47:06 · answer #1 · answered by Dr. Phil-lys 4 · 3⤊ 0⤋
privacy. That is one thing that is difficult to build into a house. That to me is worth more then a bathroom. A bathroom can be added, houses to close together are there.
I have neighbors, 4 adults and 2 children in a 4 bedroom, 2 bath house. I am fine with that, though I don't know how they do it, but they have 6 cars/trucks and 5 motorcycles. The noise from this is awful, the motorcycles they leave running and the fumes end up in my house, the noise wakes me up and they park in front of my house, their house and another house. If I have company over, there is no where for them park because of this one family.
Did I mention 3 dogs and some cats.
Go with privacy.
2006-06-26 20:47:59 · answer #2 · answered by starting over 6 · 0⤊ 0⤋
Since I am a lic appraiser. The one with the large GLA (living space). Simply because the "view" is only worth a little and not real tangible. Appraisal's are mostly based on recent sales in the same subdivsion and must be within 20% of the size of the subject. So the larger will appraise for more.
2006-06-26 20:45:32 · answer #3 · answered by Ballatician94 2 · 0⤊ 0⤋
Personally I would choose the 3200 sq. ft. house - they both have the same number of bedrooms - and to me - you can never put a price on a great view and privacy.
2006-06-26 20:42:18 · answer #4 · answered by hotmomma 4 · 0⤊ 0⤋
Make sure that the view is not "buildable! I.e., that no body can build a home and thus change your view. Same with nearness to other homes.
That is QUITE a difference in s.f. for the same price.
Just for fun, assume overall value is $100/s.f., (throughout the neighborhood) means you are paying $70 K for the view!
2006-06-27 11:13:12 · answer #5 · answered by Anonymous · 0⤊ 0⤋
The 5/4. View and privacy are golden.
2006-06-26 20:42:33 · answer #6 · answered by csucdartgirl 7 · 0⤊ 0⤋
The one with the view, of course!
Remember the three most important items in real estate: Location, Location and Location!
2006-06-26 20:41:29 · answer #7 · answered by Bostonian In MO 7 · 0⤊ 0⤋
I think the one with the view and less neighbors would be worth more.
2006-06-26 20:41:12 · answer #8 · answered by getrd2go 6 · 0⤊ 0⤋
I think the one with no neighbours is worth more.
2006-06-26 20:42:51 · answer #9 · answered by Blue 2 · 0⤊ 0⤋