How Much Does it Cost to Buy a Home With a Stunning View in Illinois?
"Man, but look at that view!" I'm sure you've heard that before, right?
If it looks expensive it probably is and at the same time, you could say the same about something that looks cheap.
That's the thought that was going through my head as I was reading The Cost of a Home with a Scenic View in Every State article recently posted on Thrillist.
American Home Shield (AHS) conducted a study to determine how the cost of a home with a scenic view has changed amid the inflated housing market. AHS looked at the housing market in all 50 states, evaluating the costs of homes with waterfront, city, and nature views.
So if you want beautiful views, especially in this housing market, you're going to pay for it.
The question is, what would you consider a scenic or stunning view?
If you're in Chicago, a view of the skyline, maybe overlooking Lake Michigan or something else?
If you're in Rockford, is it along the Rock River? Does that count as a scenic view?
Thrillist says "The average property value increases by 78.1% for homes with waterfront views." So maybe yeah for both Lake Michigan, the Rock River, and anything with a good look at the water.
If you believe the study, it's true too. One look at Minnesota, The Land of 10,000 Lakes, the average home price with a scenic view of the water is well over $550,000.
In Illinois, where seemingly everything is expensive, the average cost of a place overlooking water is just about $475,000.
That might be because we're about 9,987 lakes shy of Minnesota's number.
For a city view in Illinois, the average cost is $155,000 and for a property with a good look at nature, a home goes for, on average, $370,000.
Depending on what you want to look at, you could save a bunch of money but a home with a nice water view in Illinois seems to be where it's at.