20 November 2017

Valuation Matters

Valuation Matters

Beauty is in the eye of the beholder they say. That certainly applies to buying a new home.

Here we have a very interesting situation which poses a number of questions.

The view to the front elevation looking south across several miles of open countryside towards Charnwood Forest near Leicester is magnificent.

The view to the rear isn’t bad either. Mature trees. But wait. What is that peeping out from behind those trees? Well I never, it’s East Midlands Airport control tower, and it’s within about 200 metres of your proposed purchase. That may mean there will be one or two low flying aircraft in the vicinity.

On the one hand the close proximity of the airport with associated noise and fumes is a significant drawback. On the other hand, if you are a commuter either overseas or in the UK, or if you work at the airport this is strategically a very convenient place to live and potentially a big advantage. The airport is close to both the M1 and M42 motorways. And those views are quite special (although it could turn out to be quite breezy I suspect).

There is no correct answer to this conundrum. Pros and cons. The decision has to be yours. However, you need to be aware that there will undoubtedly be some purchaser resistance when you eventually decide to sell up. It’s all down to your attitude to risk. As long as the price agreed adequately reflects all factors (size, condition and location) it may not be such a risk after all….. but on the other hand.