Zillow can provide a lot of insights about the real estate market — and the median home value based on location is no exception. Location can be thought of in two respects: the geographical area in which the home is located, and the actual lot the house is on (or will be built).
Marrying these two ideas, we can get a sense of how much a waterfront view can add to the value of a property in Cleveland.
The Numbers Are In…
According to Zillow, the median value of a non-waterfront single-family home in the Cleveland area is $54,300. In contrast, the median value of a waterfront single-family home in the same area is $225,000 — more than four times as much as its off-the-lake counterparts.
While this jump in value can be attributed in part to the more sizable nature of the homes built on the water, the landscape itself certainly has a lot to do with this price difference. For instance, if you can walk right out your back door and easily access the water, you’re sure to see a more significant value than if you have to walk down a long steep walkway to reach the lake. A similar scenario plays out when homes on the water have an unobstructed view, versus a semi-obstructed view.
The Element of Landscape Design
When it comes to waterfront properties, there are natural variants that affect sale prices — but there are also many landscape design upgrades that can push the property value upward.
Let’s use the example of a waterfront home that is elevated several feet above the water. While there may not be direct access to the lake, there are still ways to make the home feel closer to the water. For instance, you could install a tiered infinity pool that provides recreational use and appears to blend into the lake itself, connecting the two bodies of water. There’s also the option to add a deck below the grade of the backyard where you can relax on your own or entertain others.
Here’s one project from the Green Impressions portfolio that highlights this type of approach.