Faculty, place with character by the sound of it? (8)

I believe the answer is:
eyesight
'faculty' is the definition.
(eyesight is a kind of faculty)
'place with character by the sound of it?' is the wordplay.
'place' becomes 'sight' (I can't explain this - if you can you should give a lot more credence to this answer).
'with' says to put letters next to each other.
'character' becomes 'i'.
'by the sound of it?' indicates a 'sounds like' (homophone) clue.
'i' is a homophone of 'eye'.
'sight' after 'eye' is 'EYESIGHT'.
Can you help me to learn more?
(Other definitions for eyesight that I've seen before include "perception" , "Power of vision" , "Visual faculty" , "Requirement to look" , "Showing sense" .)