Properties with views can have a higher median home value compared to those that do not have a view. It makes sense too, who would not like to come home and see a beautiful view through their window? Yet, there are a couple components to a property’s view that could impact a future buyer.
The Value of the property view
Majority of buyers love views. Whether their property has a view of a river, lake, park, mountain, or ocean, buyers are willing to pay additional costs for that view. The exact value of a view depends on its location, population, and demand.
When buying a property for its view, the most important factor to consider is if the view is endangered. What is the probability of any developments or buildings being constructed to obstruct this view? Especially, if you pay a premium for the view, you want to ensure that it will still be there when you go to sell the house so you do not loose money.
Typically, owners do not have the rights to a view. Very, rarely can a property owner stop a nearby construction project from obstructing their view. Often, the best way to preserve a view is through land trusts, local ordinances, or a subdivision rule.
Land trusts are private organizations that obtain the land for the benefit of the public. There are different types of land trusts. Some land trusts raise funds and then sell the land to buyer that agrees to not change the state of the land. Then, local ordinances are usually set in place to prevent trees from obstructing a view. Subdivision rules also vary but can sometimes play a role in protecting a view as well.
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