Does the view impact the price ?

[ammar]

Hi,

I am considering buying a townhouse (semi detached 335 sm) in Avondale (the best street there) which I have been renting for two years now. But it needs renovation. The place has the best view in Avondale.

Nearby there are bigger houses with slightly higher price (bigger land 600sm or more, new kitchen and bathroom...).

I want it for my family. I would prefer capital growth.

Which option should I go for ?

[DazRaz]

Whichever you like the most.

[davtam]

Henry Street?

[jimO]

what do you want to look at, "the best view" or somebody's fence

[ammar]

what do you want to look at, "the best view" or somebody's fence

Yeah, I am trying to estimate how much worth this "best view" compared with other properties which are bigger and better condition.

Yes. It is around Henry street.

[eri]

it depends on the view doesn't it

open ocean you've not got

so is it of distant mountains or endless streets and houses?

not asking you to answer

just pointing out that every view is different, they are worth what people will pay for them

[davtam]

who would buy it in years to come - would the view outweigh other potential negatives?

[Perry]

Yes - a splendid and sought-after view does
have an impact on the price. In some cases,
substantially - by a big margin.

[speights boy]

An all day view of the sun certainly adds value for a lot of people.

[ammar]

I may go for a valuer. The story is that the landlord is selling the place I am renting. What he asked for was reasonable but his wife told him to increase it. Both live in China and the place is managed by his father here who has a share. So he gave me one week to make an offer. I am looking for a house.

He does not want to go for an agent at the current stage in order to save the commission for both of us. Also it will be easier for him because he does not want to spend any money.

Do you think the valuer is a good option ? so that both (especially his wife who she at far distance) to be convinced. Any idea about a valuer and the cost ?

thank you

[jimO]

definitely get it valued, so you can see exactly what its worth, your saving them the hassle and expense of selling on the open market but you dont want to pay to much, also since you are renting the househave you noticed any problems with the house that as a tenant you accept but can use as leverage to lower the price

[ammar]

Any idea how much might cost the RV ?
thank you

[eri]

for a start run your address through the council website to find the CV

http://www.aucklandcouncil.govt.nz/EN/ratesbuildingproperty/ratesvaluations/ratespropertysearch/Pages/RatesSearch.aspx

then use the 3 recent sales data from the bottom of trademe ads for similar places selling in the area

get about 10 recent sales and put the data on a speadsheet

then go back to the council webpage and compare the recent sales prices with the 2012 council CV, put that data on the spreadsheet too
and a % figure for how much each place is selling differently from the CV

then you'll have done 90%? of what a professional RV would do

the final 10%? is the interior, view etc.

[ammar]

then you'll have done 90%? of what a professional RV would do

Thanks for the advice. I will try this.

I have tried the E-Valuation of QV. Unfortunately, the system is reporting the floor area to be 150 sm while the true area is 117 including 30 sm for the garage, which the e-valuer does not know about !

RV costs at least $500. I might end up not buying the place so the $500 will be just wasted. I thought also to get those agents to give me an idea. But I am the buyer not the seller so they would not be interested to do it.

Regards

[JPW]

for a start run your address through the council website to find the CV

then use the 3 recent sales data from the bottom of trademe ads for similar places selling in the area

get about 10 recent sales and put the data on a speadsheet

then go back to the council webpage and compare the recent sales prices with the 2012 council CV, put that data on the spreadsheet too
and a % figure for how much each place is selling differently from the CV

then you'll have done 90%? of what a professional RV would do

the final 10%? is the interior, view etc.

Simple and very effective. Thanks for that eri.