Lots of great ideas vs great ideas: Determining which home offers the highest value
Ideally, you want to find a home with a great deal of great ideas. These are the two special features that many buyers buy the most, creating bidding wars and high resale prices. However, it rarely comes at an affordable price. Often, when a home has an amazing view, it is set on a hill that doesn’t have a lot of interesting land.
On the flip side, a home with a large flat lot usually doesn’t have great views. It can live in a village or on a quiet side street surrounded by other homes. There is often a trade-off between functionality and aesthetics, between what you can do with your world and what you can see in it.
The only houses are usually built on cliffs or in domesticated valleys, and they are not very humble. For example, many homes in San Francisco with more than 7,500 square feet of land (three times the size of the average city) trade for more than $10 million. Even on the Gold Coast, where homes go for $20-75 million, it’s rare to see lots larger than 10,000 square feet. Most of their lots don’t have many hot spots or, maybe 1,000 – 2,000 feet in the back, at least.
So if you’re looking to buy your next home, remember: Land is often the most valuable piece of property. If you can find a home in a great area with more land than usual, consider downsizing. At the same time, being able to find a home with amazing views is both rare and highly desirable.
Two years of owning a home in a bigger tank
Although my previous home was on a Double Lot, most of it was graded and was not functional. Instead, I had several decks – one of which was huge, about 700 square meters – that served as our “backyard” for the kids. The ocean views from all three levels were spectacular, especially during the Golden Sunsets over the Pacific.
Our current home, by comparison, sits on a large lot with a front and back yard, but does not have a generous ocean view. Instead, it has a view of the forest with a small view of the lake above. We miss the ocean views, especially during those late evening hours when you can just ask and kill. But after living here for more than two years, I’ve noticed how easy the space is to use.
If I had to choose between the two, I choose a cool home on a large, sheltered lot surrounded by trees. My family and I like to be outside as much as possible.
We don’t just want to be outside, we want to walk outside. Kicking a soccer ball, playing catch, cleaning, having a picnic. Everything makes us feel happy and healthy. The more room we need to move around, the more we use.
Let’s discuss the pros and cons of each, and which one would you go for if you could only choose one.
Trading between views and the world
When choosing between a great way or a wonderful idea, it helps to think about how you will actually live from day to day. Both are important, but they serve different purposes.
A home with a stunning view offers a sense of calm and escape. It connects you with nature and can provide daily inspiration. However, these homes are usually built in areas with limited space. Decks replace grass, and parking can be tight. You may have to climb stairs or drive down a small road just to get home.
A home with a large lot, meanwhile, gives you freedom and functionality. You can build an ADU, add a hot tub, or simply enjoy the space. Great for kids, pets, and outdoor enthusiasts. But the trade-off is that your idea might be another place to live, instead of a place.
Privacy and noise
Privacy is one of the benefits of getting more. With most land, you can create natural buffers between neighbors. Trees, hedges, and distance help you feel safe and peaceful. You can hold parties or let your kids run around outside without worrying about hurting anyone (as much). If all the homes in your area are in prime time, then buffering is developing.
Hillside homes with views, on the other hand, often have neighbors directly above or below. Because the sound travels easily down, down, you can hear all the conversations or the engine of the car. And with multiple levels of glass and decks, privacy can feel compromised, especially if many sizes are small. Therefore, you will want a home that is always high enough so that when you look down while sitting on the floor, you cannot see the roof of your neighbors below.
I remember going to the party house once. It was a row house on a regular basis with an inch of space between one and the next. When I walked down the stairs to the side of the road, the neighbor did the same, just a foot away. It felt too close for comfort.
If you’re looking for a row home on a regular-sized or small lot, at least your neighbor’s door is on the other side of your driveway.
Adjustments and cost variances
More and more purchases are coming. There is mowing, weeding, watering, and weeding, several times a week. I spend time tending to the plants and trimming dead branches regularly, which I ignore because I can listen to a podcast and clear my mind. But not all people enjoy yard work. If you don’t, you’ll have to hire help, which can add hundreds or thousands of dollars a month in maintenance costs.
That said, Hillside homes with views have their challenges. Erosion, drainage issues, and foundation movement can be a long-term headache. So please check carefully before buying. You may need to maintain walls or navigate tricky access for contractors and visitors. Sometimes, you pay a premium for viewing but sacrifice your day-to-day livelihood.
At my old beach house, the neighbor quickly came down and asked me to cut down a tree at the bottom of my lot. He was worried that he might fall into his yard, break his fence, or damage part of his roof. Wanting to be a good neighbor, I hired a tree line to lighten the load by cutting some heavy branches. That costs about $700.
Power of resale and promotion
Both calls and land can drive asset value, but in different ways. Views create some emotional value, while the world creates a more functional value.
Buyers often fall in love with a good idea right away. It’s a home seller and makes people say “WOW,” or “That’s a million dollar idea!” I know it did when I bought an ocean view home in 2020.
But the earth provides flexibility, when you start thinking about how to use the space. You can easily expand your home or subdivide if the zoning allows. Those opportunities add both collective and long-term financial value.
In dense urban markets like San Francisco or New York City, more land can be seen quickly because it is rare. You can’t create more land, but you can always remodel the house. Building or more usable land should increase your living space, the more you have to agree with you or the next owner.
That said, it is very difficult to create better views. You can’t just take a building and move it. And if you he did Have the option to upgrade your view by adding another story, it will cost a lot of money in permits and construction. In San Francisco, add a 1,000-fonet floor can easily run $ 1 million. The whole process may take 2-2.5 years. No thanks, that’s why I bought the fixer back in 2019 and we already have another issue.
It is easy to take a given opinion after a while
Having a water view is amazing. It does wonders for your mental health. It soothes you, gives you perspective, and gives you a mental reset ” When your boss is unreasonable or your children are driving you up the wall, a good view can reduce your stress almost immediately. The more rooms in your home with a view, the better.
But after nine years of living and watching the sea, I noticed something surprising: I started to take it easy around the part. Watching the ships sail into the lake used to be mesmerizing; Over time, it became background noise. Even the birds, clouds, and sunsets began to fade from the scene. Maybe I didn’t see the idea because I was in a good mood.
In contrast, I did not take our current outdoor space. Children play outside every day. We have family picnics on the lawn every weekend. I do soccer and tennis with them, activities that were not possible in our old home. Functional space gives us more experience, not just beauty.
Will one day take over this country? Maybe, as we humans get used to everything. But I don’t think I’ll ever stop appreciating its help.
Choosing based on your stage in life
Your decision to buy a home with a large lot or view may also go to your stage of life.
If you have children under the age of 18, I’d prefer a home with a large custom. You will use it every day – for sports, playtime, dining out and gatherings. Children need more space as they grow. More outdoor space extends to homes in progress.
If you’re an empty nester or live alone, a home with a great view can be incredibly peaceful and fulfilling. There is little to save, and you will appreciate the beauty every morning and evening without worrying about children or pets needing space.
The world of life, the view of emotions
After owning both types of homes, I’ve realized that more land provides consistent pleasure, while views provide heightened emotional pleasure that gradually fades over time. Both are important, but one is more effective.
If you want to live more, play more, and connect more, travel the world. If you want to show more, relax more, and feel more inspired, you will watch it. Ideally, one day you will be two. But if you can’t, focus on the one that best fits your lifestyle today.
Being a person is better than not having one.
Readers, what would you choose? A versatile, usable home? Or a home with great views? How much is the premium for housing orders in your area? And for homes that offer large lots and large views – how much are they selling for?
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