Kirsty McLuckie on paying premium for a view to a thrill

You can’t put a price on a view, so the saying goes, but actually – when it comes to selling a home – you can, although it isn’t an exact science.Certainly a home with a wonderful far-reaching vista will command a price well in excess of a similar sized house with its view obscured.While a valuer can tot up the value per foot of a home’s accommodation and garden, then add some more for desirable features and the condition of the building, putting a monetary value on a view can be tricky, as it all depends on the right buyer wanting it enough.

A survey published this week found that four in five people would be prepared to pay an average of more than £70,000 extra for a property which delivers their perfect outlook.

The desired views stated are, in order of preference, the sea, fields, a beach, mountains, a view over a town or city, and trees and parkland.

And the poll, carried out by online real estate firm Purplebricks, suggests that – for some – money is no object when it comes to what they see out of their window, with more than one in ten respondents saying they would pay upwards of £200,000 extra for their dream view.

Portree is the capital and only town on Skye Island, the largest island in the Inner Hebrides of Scotland. This photo shows the town from a room nearby. Picture: DYNAMIXX

According to Savills, when it comes to valuing a view there are several factors to take into account. For cityscapes, height is one – the estate agent reports that the general rule is the higher the view, the more valuable the property.

Its figures suggest that the premium can be anywhere between 2.5 and 5 per cent for every two to three storeys that exceed surrounding rooftops – to give the best and most unobstructed views, as well as being quieter away from street level.

Penthouse apartments will attract the highest premiums – often anywhere between 10 and 20 per cent when compared with lower-floor apartments – but that might also be down to larger outside space, more natural light and privacy.

When it comes to views over water, just how much of the sea, canal, river or lake you can clap eyes on will greatly affect the price. Savills estimates an extra 20 to 30 per cent for coastal properties with unobstructed sea views, with a sliding scale applied for those with partial perspectives of the water.

One can only wonder about the uptick in price of a view of “Sydney Opera House, the Hanging Gardens of Babylon, or herds of wildebeest sweeping majestically” as Basil Fawlty sarcastically described the required vista from his Torquay hotel.

Property with a clear outlook over the countryside is also likely to result in a premium too. In a recent example, a new house with far-reaching farmland panoramas fetched a premium of 6.5 per cent compared with a near identical property on the same development – without the same views.

An important consideration is permanence. You can’t demand legal rights over a view, so the chances of it being obscured in the future will affect the price, with the highest value put on one which cannot be built on – say, if it is owned by the householder, or it lies in a conservation area.

While views can add a tremendous amount of value, what you mustn’t do – as recent examples in the news have discovered – is try to improve your outlook by drastic measures.

Laws protecting trees, even those on your own land, have recently been tightened, and as several people have found out to their considerable cost, a chainsaw approach is likely to cost thousands in fines – which is never a pretty picture. ​ ​

- Kirsty McLuckie is property editor at The Scotsman

​