The Million Dollar View

I was at a party yesterday, and once again, was reminded of the expression "The Million Dollar View". The party was at a friend's house who lives in the hills. After a long drive through a windy road, a couple of houses emerged. As we entered the house, it didn't look much from the outside, other than being in the middle of a mountain valley. But once we went through the house and stepped onto the backyard, we immediately saw the breathtaking view. It was one of those moments when you say to yourself: it's worth spending the extra money to get a view.

As a real estate professional, we are often asked questions about what to look for when purchasing a property. My personal experience and opinion is if it's within your budget limit, always go for the one with a view. This is true for both primary home and investment properties. I learned my lesson when I bought an apartment unit a couple of years ago. I had the choice of getting a unit on the 2nd floor or the 25th floor. The 25th floor unit asked for a little bit more money, and at the time, I thought since I will be renting it out, I don't care about the view. So, I opted for the cheaper one. As it turned out, the 2nd floor unit is a little harder to rent because the potential tenants also care about "having a view". And I'm sure that it's true for the resale value as well.

Anyway, it was a great party with great music and great company. To top it off, we had a chance to watch the sunset and then the night lights flickering in the background as we watched the band playing. It's a good life.