How much of a premium does "intangible" qualities to a house such as large lot, overlooking a forest preserve, privacy, etc, bring?
For example, I saw a house listed that has a large flat backyard on nearly 1/2 acre with a forest preserve in the back. The house has has only one neighbor and has lots of privacy. The house is in your typical subdivision and not in some area where this is the norm.
Now how much of a premium does intangibles like this bring? Like compared to a house with similar sq foot a few blocks over but is in a smaller lot and doesn't have the same intangibles? Do buyers put a hefty premium on this?
And I know it goes down to comps but it's kind of difficult finding comps.
[link] [comments]
source https://www.reddit.com/r/RealEstate/comments/1w79hjz/how_much_of_a_premium_does_intangible_qualities/
Comments
Post a Comment