Profile picture for AlexMuc

What price premium (%) would you assume for oceanfront.

I am comparing a property with direct oceanfront, south-facing backyard and 18,000 sqft to a property which is 1500 ft more inland and has a east-facing backyard and no waterfront.


What premium should the larger waterfront lot have, compared to the smaller inland lot? Would a premium of 100% per sqft be fair as the waterfront property has south-facing backyard and the better location?

  • July 10 2011 - Tampa
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Answers (5)

Profile picture for Linda S Reynolds
You have to look at that specific area, compare comparables and discuss with a local agent just what that property would be worth making an offer on.

If you have further questions I would be happy to assist.
  • July 11 2011
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Profile picture for Frieda Triebel
It is best to not compare these two properties to each other, since the locations seem to be totally different.

Contact a local realtor to assist you in properly positioning your property for the market.  You can also hire a professional appraiser, for a fee, to assist you in the pricing.
  • July 10 2011
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You need to do one of two things:
Call a local Realtor for a professional comparison,or
Look for any listed properties in that area that are on Zillow for % of difference.
Of course, the Realtor would give you the most accurate figures.
  • July 10 2011
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Profile picture for SoCal Engr
I would not "assume" any premium. Look up comps and see what the last oceanfront sold for. Then, see if you can find other comps from the same time frame and empirically determine (vice "assume") what the actual premium is/was.

Note: Try to compare apples-to-apples as much as possible. This means remove as many differences in the sales as possible. Ideally, you'd like to find the same house on different lots at the same time. Since this may be unlikely, at least make sure they're at least in the same time period.
  • July 10 2011
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It totally depends. Every property is different. Have a realtor pull comparable market sales and review them yourself to determine what you think is the value of the lot you are considering buying.
  • July 10 2011
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