I think the price is based on the square footage of the house. The view is an added feature and that your property may sell faster than those without the view. Buyers might be willing to pay higher than what is going for because of the view.

Charita King

Interesting question. Whereas a view of the back of a brick wall, would lower property values..a 360 degree Ocean View is Priceless. To put an exact monetary value on that, would be difficult to do.
I can say that Hillside homes with panoramic views command the highest prices in Real Estate.

Hi Daniel,
A view is definitely something that can and will add value to a home. Of course, a lot of it depends on what the view is... if it is a sweeping view of the city, all the way to the ocean then that definitely adds some value and cachet to a home. A view of a brick wall or a billboad? Not so much... But view homes in the hills, where we live and work, often do sell for a premium . If you want any advice or help don't hesitate to call or email us.

From an appraisal standpoint, a view is worth whatever the market will pay for it. The best way to determine this is to look at comps that have a view and those in the same area that don't. Just like any other feature that a home has, you can adjust the comps so that the only variable is the view. This will help to establish an approximation of the market value.

Do a search on paired sales and you will get the idea.

Hello Daniel. That's a very good question and I think the answer will depend on the individual and what kind of a view is involved since not all views are created equally. In my experience, for resale purposes, a view does not add nearly as much as people hope for. It's similar to a pool. People like to have the pool, but they don't want to pay much extra for it. I think it would be interesting to hear from an appraiser on this issue. I would also want to know what a view is worth in a lawsuit (I know people have sued when their view was blocked by new construction). It will be interesting to see how others answer your question.