Would You Pay More For a House With a View?

I always wanted a house in a good location. Location, and never a view, was the top priority to me. I was spoiled from the day I was born in regards to location. Our small two room apartment in Lithuania was in the middle of the capital, close to public transportation, and walking distance to all major points in the city. Our windows faced other houses and offices. It was not the greatest view on Earth, I have to admit.

When I moved to the U.S., I learned that location in a small town means a good neighborhood, and preferably a good view. My parents condo had an amazing view of the mountains. It was serene. It was breath taking. It taught me to appreciate the grandeur of the Rocky Mountains.

My current condo is in a good Salt Lake City neighborhood, close to public transportation. Unfortunately the view is not that great. There is a busy street right under our windows. I can still see the mountains in the background, but the busy street seems to overtake the view.

In my dreams my next home has a great view, huge windows and a lot of daylight.

Am I willing to pay more for a view? This is a question that I cannot answer with a simple “yes” or “no.” I think that houses with a view sell at a premium above similar houses without a view. A good view simply costs more.

Can You Put an Actual Value on a View?

I contemplated this for a while now. We all want to look at something pleasant and not just a busy street or a white fence and our neighbors house.

How much would I be willing to pay for the view of the mountains?  A park? A creek? A natural preserve? It all depends on the house, right? The house cannot have a 360 degree good view. So, what is a good view really worth? $10, $50 extra a month?

I’d say that if your budget allows for that extra amount, then it might be a simple solution. If you are already maxed out, then something has gotta give, most often it will be that great view that you like so much.

Is a View Going to Change with Time?

One of my friends was looking for a house. He wanted a view of the valley, so that he can sit on his porch and look at the lights of Salt Lake City. The idea was great, but it was not easy to implement without spending some extra money.

He found a house with a desired view of the valley and even within his budget constraints only to find out later that his dream view will be obstructed in a few months with construction. If he wouldn’t do his due diligence, he could have ended up with a construction site right in front of his porch. I’d rather face a white fence than a bulldozer!

Is a View for Your Visual Pleasure or is it an Investment?

If the answer is “visual pleasure” then that view might not be worth much money. Our definition of “visual pleasure” is very subjective. We might like something (a field with trees, for example) that someone else would not appreciate that much. Don’t place a considerable dollar value based on your own subjective opinion.

If the view is an investment, something that a majority of people would want to see (Central Park in New York or Niagara Falls, perhaps) than it, probably, costs some additional money. Such views create great leverage in selling a property.

One Last Thing to Remember

No matter how beautiful your future house is and how stunning a view it comes with is, you don’t want to be house poor. Know what you really can afford. Don’t overspend. In fact, if you are buying a house with a view, try to spend as little as possible. Otherwise, you might not get your money back. Well, unless it is a penthouse with a view of the Central Park.

This post was featured in the following carnivals:

Wealth Artisan’s FinCarn at Wealth Artison
Fin. Carn. for Young Adults at 20s Finances
Carnival of MoneyPros at Finance Product Reviews
Totally Money Carnival at Financial Success for Young Adults
Yakezie Carnival at Free Ticket to Japan
Carnival of Retirement at Simple Finance Blog
Carnival of Financial Planning at Cult of Money
Festival of Frugality at See Debt Run

43 thoughts on “Would You Pay More For a House With a View?

  1. Michelle

    I would spend money on a view, as long as it was considered to be an investment as well. It does depend on how much money it is though.

    Reply
    1. investlike1percent

      like any other feature of a home, because a view is in demand for some people, it will cause a premium.

      just like all things, life is a tradeoff. make sure you know what you value most and sum up to get the house you want.

      i dont prefer a view, but our flips always sell better and yield a higher return with a view.

      1%

      Reply
  2. Daisy

    Before we moved into this apartment, we rented an apartment with location and view -a few, specifically, of the ocean, boardwalk, and pier of the little beachside community we lived in. It was SO expensive and our quality of living was compromised because it was also tiny.

    I could definitely go without a view. I don’t think it’s worth much.

    Reply
    1. Aloysa

      I would like a view of the ocean and a boardwalk. I just don’t want to pay for it. 🙂 It is not worth it, especially when the quality of life is affected.

      Reply
  3. Bridget

    a view isn’t super important to me, but when I’m looking at condos, I cringe when the patio overlooks a parking lot or an abandoned building site. I don’t necessarily need my apartment to overlook the river valley or the city skyline, but that’s certainly on my want list!

    Reply
  4. Crystal @ Real Estate Grasshopper

    I actually don’t care about a view for my daily life. On vacations, I check out the mountains or valleys or whatever. But in Houston, everything is flat anyway. 🙂 I do like going to nearby open spaces like lakes to take pictures of wildlife and sunsets.

    Reply
  5. Kurt @ Money Counselor

    I know we’d pay more for a house with a view because we did. In our area, views of ocean and mountains are not uncommon, and I’d guess add a 10-20% premium to a home’s value. We’re happy we paid the premium, because we enjoy and consciously appreciate our view every day. The view also makes more marketable the short-term rental apartment we have in our home, so there’s a bit of a payback.

    Reply
    1. Aloysa

      You see, I am not sure I would pay 20% premium. Ten, probably. The view really should be stunning for me to say okay, I’ll pay. Really, really stunning. 🙂

      Reply
  6. Elizabeth @ Simple Finance

    Haha, well, the view from my front porch lets me see about four of my neighbor’s front yards… my backyard view is of a big tree, which obstructs the neighbors. But I just got back from vacation, where I spent a week gazing out at a protected marsh area in a coastal region. It was gorgeous! I think a home with a view would be lovely, but I’d rather have the right amount of land, square footage, access to good schools, etc. Plus, in central NC, there really aren’t ANY desirable views!

    Reply
  7. Michelle

    We live in Suburbia in the middle of the country. The only view we have is of our neighbors’ yards. We actually talked about moving to a bigger city, somewhere warmer, near the water, but we decided not to at this stage in our lives. We have little kids and grandparents that live nearby.

    Reply
    1. Aloysa

      I just hope that your neighbors house is not too close. I hate when you can look out and see what your neighbors have for dinner. 🙂

      Reply
  8. Newlyweds ona Budget (@NewlywedsBudget)

    I never pay extra for a hotel room with a view, however, if i had the money i would.
    Also, I would def upgrade to a view for my permanent house. unfortunately, a view in southern california usually means the beach, and that can up the cost of a home by A LOT.

    Reply
    1. Aloysa

      I paid for a hotel room with a view only once. We were in Vegas and it was Beaker’s 40s birthday. So, we decided, what the hell, let’s get a view. Was it worth… maybe. But we didn’t spend much time looking at it.

      Reply
  9. Joe @ Retire By 40

    We have a great view and a great location. We are paying a lot more for both of these things. We could have stayed in our old house in the suburb and pay about half what we are paying now.
    I think the Northwest is a bit different though. I really need the good view because it is so gloomy here all the time and we are indoor a lot. When we lived in our old house, I just see the fence and it is depressing.

    Reply
    1. Aloysa

      Great views cost here a lot of money. I would love to have a great view but, honestly, I can settle for a decent view as long as I don’t have to spend much.

      Reply
  10. Lance@MoneyLife&More

    I think I would but not a hefty premium. I live very close to the beach but can’t see it from my townhouse. I might have paid an extra 5-10% but not any more than that. The problem is at any time some of the lots in between could be built up or a new condo goes up on the beach and you’d lose your view.

    Reply
    1. Aloysa

      It is true – no one can guarantee that your view will never change. It would be awful to pay the premium for a view that is gone in a few years.

      Reply
  11. Amy @ JobCred CV Builder

    I guess extra pay for the view only works for hotel room accommodations for me, not for a home. To have a good view, the location is quite impractical for accessibility. In fact, shoreline locations are, by nature, dangerous during calamities.

    Reply
  12. eemusings

    Views are nice, sure, and I always comment on views when I’m visiting someone.

    But at home? I really don’t care. I’m more concerned about location (handiness to transport, shops, work), how busy the street is, how safe it is, and how sunny it is.

    Reply
    1. Aloysa

      I am location snob. I refuse even consider a place on the west side because, even though the prices are much lower there, it is not a good location.

      Reply
  13. Kraig @ Young, Cheap Living

    I do believe a view (as long as it can’t be changed by someone building in front of it) is an investment. It does add value to the home. I actually believe these types of properties retain their value better too. An example is a lake front area close to where my hometown is. Even in a rough economy, homes on the lake are selling for a bazillion dollars. I would pay for a view if I had the money and if it was important to me and my family. At this point in my life, it’s not important to me. My little apartment looks out to the trees and it’s actually a nice view so I’ll take it. It didn’t cost anything. 🙂

    Reply
  14. AverageJoe

    I definitely love a nice view, but my purchase decisions have always been about avoiding a horrible view. If I can’t avoid a terrible view (parking lot or dumpster….ugly neighbor house, etc.) I won’t buy the property.

    Reply
  15. LifeInTransition

    A good view isn’t at the top of my priority list. I’m never home during the day and my windows are usually covered anyway. For me, location is the biggest factor when choosing a place to live

    Reply
  16. Pingback: Carnival of Financial Planning – Edition #240 | Cult Of Money

  17. Pingback: Weekly Favorites, Gratitude, and Giveaways #69 | Budgeting In the Fun Stuff

  18. Pingback: Financial Carnival for Young Adults – 16th Edition - 20's Finances | 20's Finances

  19. Pingback: Yakezie Carnival Sushi Edition

  20. Pingback: Totally Money Blog Carnival » Financial Success for Young Adults

  21. Pingback: Carnival of Money Pros | Finance Product Reviews - Be Informed

  22. Pingback: LinkedIn Hacked, Security Suggestions & Roundup — Wealth Artisan

  23. Pingback: Carnival of retirement | Personal finance how to blog

  24. Mike

    Personally, I would always pay extra for a nice view. If it adds to your sense on wellbeing and makes you feel better seeing some nice through the window, then it’s a plus and must and value to a property.

    Reply
  25. Meredith

    My partner and I stumbled over here coming from a
    different web page and thought I might as well check things out.
    I like what I see so i am just following you. Look forward to going over
    your web page for a second time.

    Reply
  26. domain

    Good web site you have got here.. It’s hard to find high quality writing like yours nowadays.
    I honestly appreciate people like you! Take care!!

    Reply

Leave a Reply

Your email address will not be published. Required fields are marked *