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The key to securing a valuable property? Room with a view
May 5, 2015
Any property with a water view immediately makes the property more valuable. “Buy the best view in the best street”- this is the advice many buyers may hear if they want to secure the most valuable property possible. Clients will pay millions of dollars for a picturesque view in the right location. When you buy the ‘best view in the best street’, you’re investing in the ultimate trophy prize: an incredible, irreplaceable view that only grows in value as demand increases.
The value of a view depends on where it ‘sits’ in the property and what the owners need to do in order to enjoy it. I recently sold a property with enviable views with fierce competition, driving the price up substantially. Views in main living areas, sitting at eye level are more valuable than a property located in an enviable location without easy access to the view.
Imagine, after a long day, throwing off your shoes, collapsing onto the couch and enjoying the relaxing sensation of a stunning view – all in your living room. It’s these luxurious moments property owners pay the big bucks for. Properties where the view is easily seen consistently sell for higher than those with hidden views in the study, bedroom or washroom.
While a property may have an enviable view, it’s important to also acknowledge the impact weather can play in any location.
Always ask your agent for specifics on how much sun the property receives, at what points on the property – and at what times. Big bay windows can bring the views as well as additional warmth during summer if well located.
On the flip side, properties cliffside, on a hill, or near the beach can be also susceptible to strong southerlies, so be sure to ask your agent about the ‘worst case scenarios’ weather wise to be sure the view creates an enjoyable atmosphere to feel comfortable during all seasons.”
About the author: Simone Chin
Hodges’ Simone Chin’s entire career has been around securing exceptional locations with second to none views. Formerly working internationally and locally in the film industry, she made the move to real estate, passing on lessons learned from sourcing locations. Her entire real estate career has been in one of Melbourne’s most sought after lifestyle locations, the bayside suburbs.