When house-hunting, not all of us are interested in the interior. Sometimes what’s outside can be more important, increasing both demand and value dramatically. Here are just a few examples of instances where location really matters.
Do you sea it?
Sea views are still some of the most sought after for those looking for their dream home. It’s reckoned on average a sea view can boost a home’s value by 66%. Estuaries and harbours meanwhile can come with an even greater price tag. Florida and California predictably offer some of the most popular and priciest coastal properties in the US. Those prepared to move overseas can save hundreds of thousands.
Hiking up prices
For many, living the high life means literally living high up in the hills. There are many places in the US where you can find an impressive mountain view. For a view of the Appalachian mountains, many will look for land for sale in North Carolina. Colorado and California meanwhile also have some great hilltop properties. The price of such properties can be steep – even living on a slight hill can double a property’s value. However, this doesn’t seem to have affected the demand for such housing.
Follow the curve
Homes built into crescents can often pick up a bigger price than those on a straight road – a forty per cent boost in value on average. This is likely to be partially due to the added space that a property on a curve can often have, but mainly seems to be a case of looking prettier and classier. Houses opposite squares are also worth more.
Back to school
Living near a school will also make your home more desirable and more valuable. This is both to do with the convenience of being able to travel to school more easily, but also the likeliness of being able to get into the school, with many successful academies having such a high demand that they have to set strict entry requirements for students. In some cases, living on a school bus path can be just as lucrative.
The price of an unpretty panorama
Just as there are many things that can boost the value of a property, there are many neighbourhood features that can devalue a property. Views of industrial sites can take an average of 23% off the value, whilst a property by a motorway can be 15% less valuable due to a combination of noise and pollution. Having a derelict building either side can also put off a lot of buyers and drive down the price.
A nearby airport meanwhile can be a problem due to noise pollution, although some areas have seen less of a knock on effect than others as an airport can often be a prime source of jobs making nearby property attractive for commuting to work. Similarly features such as railways are having less of an effect on value than before.