We all understand the importance of a properties location in determining how valuable it is, but did you know its value is also largely determined by the property’s access to sunlight.
The importance of sunlight is one of the most overlooked factors in real estate and it could really cost you if you don’t take it into consideration.
For the most part, a north-facing property is generally considered to be the most appealing and sought after. Just go and ask any real estate agent.
What a north-facing property does is allow access to sunlight in the main living areas of your home and garden/balcony as the sun moves from east to west. The additional benefit of a north-facing home is that also dramatically increases the temperature in your home, which is important during the winter months.
In built-up urban areas like Sydney, where the vast majority of people live in apartments, north-facing or north-east facing are generally considered the most desirable. In an apartment, you’re generally not getting a great deal of light at the best of times, so being able to maximise what you have is very important.
The direction the property faces is important as it adds to something that I regularly talk about which is scarcity. Theoretically in an apartment building, only 25% of the units are going to be facing the correct way and this makes the good ones scarce and valuable.
This scarcity factor can mean that there is a significant difference in price between north-facing and non-north facing properties.
This is often most common to see when we look at properties in beachside locations. While a property that has views of the beach are clearly already in demand, if you have a property that is at the correct end of the beach to maximise its exposure to the sun, you can find yourself an incredibly in-demand property.
For example, if your property is located at the northern end of the beach with views, it will invariably be facing south. Meanwhile, a property located at the southern end will be facing north if it has beach views.
A property facing north with beach views could well be the holy grail according to many real estate agents, which goes to show you just how important that aspect ratio actually is.
If you have a north-facing property with a balcony, it’s going to get the bulk of the sun throughout the day and also during winter months.
If you’re in the market for a beachside property make sure you are looking at the southern end of the beach as the price difference can be significant thanks to the very strong demand.
For properties that are not located on the beach, north or north-east aspect ratio, will not only ensure it’s a great place to live, it will also mean there are plenty of buyers lining up to take it off your hands when the time comes to sell.