Premium for a view?

TheMonster

Just noticed this on my myhome.ie

a house going for upto 70K more for a view of the dublin mountains. Is it someone chancing their arm or is there that much a premium for a view?

Here are 5 for sale in same estate.

House 1 - 3 bed no view - 430,000
http://www1.myhome.ie/search/property.asp?id=270200&np=&rt=search&searchlist=

House 2 - 3 bed no view - 460,000
http://www1.myhome.ie/search/property.asp?id=267440&np=&rt=search&searchlist=

House 3 - 3 bed + conservatory no view 465,000
http://www1.myhome.ie/search/property.asp?id=266190&np=&rt=search&searchlist=

House 4 - 4 bed no view 499,950
http://www1.myhome.ie/search/property.asp?id=253930&np=&rt=search&searchlist=


House 5 - 3 bed view 494,950
http://www1.myhome.ie/search/property.asp?id=270145&np=&rt=search&searchlist=

copacetic

the cheapest one says it has views as well...

TheMonster

looking at the map - though the most expensive one looks directly on to it - green fields beween it and the mountains

FillSpectre

Yes views are very important. Never been that bothered myself I would always rate noise levels first as you are always listening but you aren't alwasy looking out the window

TheMonster

FillSpectre wrote:

Yes views are very important. Never been that bothered myself I would always rate noise levels first as you are always listening but you aren't alwasy looking out the window

But 65K difference for the same house?

FillSpectre

TheMonster wrote:

But 65K difference for the same house?

Some people are really dumb and value views. I have seen €100k over area name, 100m all for for a smaller property. At least with a view it is more tangable.

Look at the difference between north and south Dublin. For all the talk of overpriced Dublin I guess the southside is at the highest risk in the country. Of course the people who don't need to sell will do best in the long run.

TheMonster

Each to their own I suppose

copacetic

TheMonster wrote:

But 65K difference for the same house?

but thats not the difference, it says the cheapest one has a view so you aren't comparing like with like. surely the best comparison is house 2 to house 5, which indicates 30 in the difference? Is there other factors affecting the houses? I would have thought overlooking a green area would be a big factor for people with kids much more so than the view. Of course this agent might just be more realistic in the asking price and the houses may go for similar prices. I doubt the view has more than a 5% effect on prices, unless it's a sea view...

whizzbang

How guaranteed is this view? are you sure someone isn't going to put up a 7 story appartment block in your way?! Views are not guaranteed!

TheMonster

daveym wrote:

but thats not the difference, it says the cheapest one has a view so you aren't comparing like with like. surely the best comparison is house 2 to house 5, which indicates 30 in the difference? Is there other factors affecting the houses? I would have thought overlooking a green area would be a big factor for people with kids much more so than the view. Of course this agent might just be more realistic in the asking price and the houses may go for similar prices. I doubt the view has more than a 5% effect on prices, unless it's a sea view...

I would say 1,3 and 5 are the same house just on different roads. Interesting is that the same estate agent has the 4 bed and is only asking for 5K more than the 3 bed, so he values the view as almost the same as an extra bedroom, and slightly larger house I suppose the green area could matter for kids, wouldn't think it would add much value though.

PoolDude

My friends are currently looking in this area aswell as Firhouse and I know it fairly well. My workmates live in the estate. I was up there on Sunday night and drove around all of these houses, here is my take:

House 1:
This is latest one to come to the market and given the prices the others are going for and have gone for it is underpriced and will go for much more than this unless they are looking for a quick sale. The agent is also telling porkies, it does not have any view I could see, off to one side their is a view of the corner of the mountain, so unless its different from upstairs its rubbish. It is also in the middle of the estate with a row of houses behind, in front and to the left hand side aswell as the row it is in. It does have a green in front which is a plus.

House 2:
This was a complete "no no" in my opinion. It is again in the middle of the estate but has no green near it plus when we drove up there were cars parked everywhere, I had trouble turning to get back down. There are 2 rows of houses facing each other and it looks like multiple cars per house. The kids were also playing chicken with our car but you'll get that everywhere :-). We also guessed there were some renters there (based on the state of some).

House 3:
This one looks nice. It has a green in front of it. There are houses the other side of the green, to the side of the green and a road and more houses and the main road to another part of the estate on the fourth side (maybe dangerous). It has a nice kitchen but no dining room, they must have knocked the wall thru based on the brochure as it is a large kitchen, so you loose a room. There also does not seem to be a conservatory, thats on House 4.

House 4:
Is Sale Agreed, don't know what it went for or how long ago it went sale agreed but that was on the sign outside so this means the price is not current or actual.

House 5
Would appear to have the most going for it, although there are no interior pictures. There was no cars on the road up there and it seemed quiet. There were kids playing on the green opposite which is not shared with any other houses on any side and is a cul de sac, so safe if you have kids. The view is very good and looks out across a couple of mountains. There are animals in the fields and you can see what looks like Kippure in the distance.

I asked my workmate today what he thought, as he lives there. He said that the land at the back was given by the builder to the CC and the county development plan has it down as a public amenity and that it is supposed to be a golf course - I'd check the development plan or the councils web page but if so the view stays.

So in terms of value, first point is what are the actual offer price, my friends found that when they rang on some of the houses they wanted that it was much higher than the price quoted - seems common for some agents to display a low price to get people calling. Then there is the original question on the view, it seems others on the string are saying you pay more for the view and there are no other houses with a view to do a true comparison.

I guess its ultimately down to what the buyer is looking for.

Lord Nikon

I paid 5 grand extra for a rear South-West facing garden.

PoolDude

Looks like the premium for the view with house 5 is now 5k, check out the original link above.

antoinolachtnai

For comparison, he premium for an apartment with a view over water (as against one with a view onto another building in the Dublin docklands development was around EUR 100,000 by my reckoning.

Ballyman

The problem here is the auctioneer, Castle.

Do a search of these guys here and on www.askaboutmoney.com and you'll see what I mean!!

taby_dub

Ballyman wrote:

The problem here is the auctioneer, Castle.

Do a search of these guys here and on www.askaboutmoney.com and you'll see what I mean!!

Cant find the post. Thinking of selling with there terenure branch

PoolDude

Maybe not!

Just caught up with my friend who told me the one being sold by Gunne advertised at 430 has gone Sale Agreed at "well in excess of 470" so sounds like somewhere between the 465 and 495 guides are the most accurate reflection of reality.