SEATTLE — Have some good looking air floating above your home? Put it on the market.
According to KPLU.org, it’s not unusual for a property owners to sell the air space above their homes to neighbors interested in preserving their landscape views. Selling “air rights” – or the space above a home — is a way for homeowners to make money and to appease their neighbor’s longing for continued views of the mountains or Puget Sound.
Sometimes, Seattle residents sell the blank space for as much as $200,000. It’s a nice exchange, real estate appraiser Richard Hagar told KPLU.org, for homeowners looking to make some extra cash and neighbors hoping to keep what they have.
“Not only is the neighbor who buys your air rights preserving their view so that they can enjoy it, worry-free,” Hager told KPLU.org, “but they’re also increasing the value of their home because now their property comes with a guaranteed view.”
Homeowners who sell their air rights are forbidden from adding an additional story or structure that could impede on future views.
Air rights exchanges are popular in the Blue Ridge neighborhood of Seattle and the Somerset neighborhood in Bellevue, KPLU.org reported.