If you buy a property that has a magnificent view, but has an empty building lot next door, or an old dilapidated home ripe for being pulled down, then, in a tr

If you buy a property that has a magnificent view, but has an empty building lot next door, or an old dilapidated home ripe for being pulled down, then, in a transparent zoning situation, you'll be fully aware that you may be built out and you'll have no rights to prevent it. That means you'll pay less for your property, and you get to enjoy your view for as long as it lasts, and keep some money in your pocket. If on the other hand you do have all sorts of rights to prevent anyone from building out your view then that same house will cost you a lot more - perhaps more than you'll be able to afford. Either of these situations seems fair, because you know the rules in advance. Crappy situations arise when the rules are not clear. In that case, you don't really know how much you should pay for that house, and you may suffer immense angst when your view disappears.