If you have a home in a scenic or resort destination, some people that have the best views are going to ask the most money. If you have a question whether your home is worth more money because of a great view, it depends on several criteria, and it is based on the market where the home is located.
You first have to consider that an appraisal doesn t value a view, when considering the things about your home that are worth more money. Your appraisal will be based on similar homes in the area that have recently sold and the price of preferred lots, (such as view or waterfront), versus the non preferred lots. In comparison, the preferred lots and homes will sell for more than the non preferred locations, when you are in a resort or mountain view area.
The home that is not located in a resort or destination areas and offers a great view might not enjoy this increased value because the comparable sales will still be considered. In answer to the question whether your home will be worth more because of the view, the answer is yes, assuming the comparable sales are higher than those that don t offer a view. Your home will have more buyer appeal with a great view, which will cause your home to sell quicker, but a view is not a tangible item that is appraised, unfortunately.
For those that live in resort areas or recreational lake areas, it is important that the appraiser uses comparative sales that are identical in lot or view type, to get the best appraisal. Since they will first look for houses that sold in a close area, based on size by square footage and condition, those are the main factors that are compared.
If there is a distinctive difference in certain homes from others, (such as waterfront versus non waterfront), the values can be drastically different and an appraiser will compare other waterfront home sales to yours if it is also waterfront. The same is true of those that offer spectacular views in mountain states, for example.
No matter where your home is located, if it is an isolated case of a great view, it might not add much additional value unless comparable sales can be found. Otherwise, it will make your home more appealing to a buyer and make it easier to sell, but it might not gain you much additional money. Because an appraisal will compare similar homes, lots, acreages or properties that are the closest comparison to yours, it just depends on whether there are any that have the same great view because comparative sales will be considered in valuing your home.
When it comes to listing your home with a real estate agent, they will price it based on the comparative market analysis based on homes in your area. You might be able to hold out for a higher offer on your home because it will be more appealing to buyers and they will have a stronger desire to own your home, however. This would make your home easier to sell and help you get top value if you have a great view.
![[Valid RSS feed]](http://www.look4articles.com/images/icon_Rss.png "XML Feed For RSS"){kind=icon}
Category Rss Feed
Print This Article
Add To Favorites
![[Valid RSS feed]](http://www.look4articles.com/images/rss.jpg "XML Feed For RSS")