Hi all the investors there, I once had the pleasure of talking to a successful investor, she told me that property investing is all about investing in properties with views. Those properties grow fastest in values.
Personally, I would like to live in a place where it is peaceful and quite, a leafy green kind of out look. Although a view is good, but if it is on a busy road, with a lot of traffic, then, I'd rather not having the view but a place of peace.
What you are opinions on views ?Sorry I forgot to mention, she meant the " water views" ….. when she kept talking about views …
I agree with your successful investor friend.
Our PPoR has 180% uninterrupted bay and city sky-line views, and is about 700 metres from the beach, on the hill of Arthur's Seat.
In 2005 we bought a block of land immediately across the road from this house with even better views, and settled last month. It was a stretch, but there are only about 10 more undeveloped blocks with views in our entire town. It was an opportunity too good to miss.
In the 2 years until settlement, both have appreciated very well in value, and we are not in a traditional high growth area (Dromana on the Mornington Peninsula in Vic).
In our general area, prices have done well since we bought our PPoR in 2000, as we are now within commute distance to Melb and the general price range in the town was low, but the properties up on the hill with the views have outscored all the others, except the absolute beachfront properties on Point Nepean road.
I would venture to say that this would apply to almost everywhere, and is certainly the case in L.A. Houses with views in places like Pacific Palisades, Malibu, Santa Monica etc, are half as much or even double again as the same house nearby without views.
Simple reason; small supply; big demand, and if you can offer a very good quality property into the bargin, then the demand is even greater, and in my opinion will only get better as the supply of properties with views isn't increasing too much, but the people wanting them is.
Views do command a premium – I'd agree. I found a place a number of years ago which was located opposite DOH, near a fuel refinery & a little away from a medium security housing devt (gaol).
The redeeming factors were: Sydney City skyline & water views, close to ferry & transport arteries, views of Homebush Olympics site (pre-2000) , closure & gazetted redevelopment of defence surplus land & lots of press about the refinery closing (still waiting). Strategically placed trees screened out some of the unwanted views (DOH & refinery).
This property appreciated at a far greater rate than others in the suburb (although there is a degree of price relativity which has to be maintained).
By using the wrong agent (vendor's) to buy and the right agent to sell your property you can do extremely well from the transaction. A vendor's agent, unless properly briefed about the property may not pick up on the upside of a property but a canny purchaser will use it to their advantage.
Hi Luckyinvestor, I was looking at a house at Ashfield, WA for sale opposite the river, uniterrupted views 9yrs ago for $250,000. Now that house would be worth $1 mill. I wasn't quite ready to buy when it was for sale and no other properties came on market when I was ready to buy. Bummer!
My PPR has unintterupted city views and is the highest house on the high side of the street, bank valuation gave me an increase of 25% in 6 months(and they know what I paid for it), so if you can afford to buy views then go for it. The water bit is a double bonus, There are proeprties on the northern side of Brisbane that have full water views under 500k. The risk to manage is that the view doesn't get built out.
If this is true, and it seems to be, I will be very happy in a few years when my block is developed in Tassie… It will have views towards the town of New Norfolk and as a big draw card, views down to the Dervent River and mountains in the background…sweeet…..
Probably could be looked at as the "green-change" view, not as much of a premium as sea/city views though…Hi Handy Andy, just curious, why Tas? Cashflow? Good excuse to holiday every year? Spreading assets? Cheap? Expecting growth? Expecting aging population to tree-change to cheaper area's. Thanks, m
Probably could be looked at as the "green-change" view, not as much of a premium as sea/city views though…
You must be logged in to reply to this topic. If you don't have an account, you can register here.
