On The Fence About Being On The Corner: Pros And Cons Of Choosing A Corner Lot
If you're in the market for a new home, you want to get the most bang for your buck. One way many prospective buyers and their real estate agents look for the best spot is to look for a corner lot. And there are some good reasons to choose a corner space. But there are also some drawbacks to deal with.
Here are some pros and cons of corner properties to keep in mind when looking for your next home.
Larger Lots. With the average single-family home lot size shrinking over the years to an average of only 33 feet of street frontage, buying a corner lot increases your yard significantly due to its shape. Whether it's room for kids to play or simply the feeling that you aren't living nose-to-nose with your neighbors, added space is a great reason to look at corner homes.
Higher Resale Values. No matter how many homes are in your neighborhood, there are only a select few corner homes available. This scarcity means that the few corner homes generally retain their value well, sometimes even going higher than regular-sized properties in the same area.
Foot Traffic. Walkers, joggers and pets will be travelling from different streets, meaning more noise and curious passers-by . In addition, many people tend to cut off corners as shortcuts and even allow their pets to stop and do their business on corners. There are a few ways to discourage such abuse of a corner property, but it may be something you'll deal with more than once.
Car Traffic. As is the case with pedestrians, two streets means more directions for cars to be traveling as well. Corners usually bring with them noise related to cars decelerating, stopping and accelerating. In addition, many cities have regulations about how high your landscaping or fencing is allowed to be near the corner (so that drivers can see around the bend).
Unique Landscaping. While the larger yard of a corner lot makes for a great sense of freedom, it does add some new landscaping challenges. A large lawn and front yard may increase maintenance costs, especially if you cannot keep up the yard on your own. When designing your corner landscaping, you need to make sure you choose plants that will complement a large yard and look good from multiple angles of approach.
When looking for a new house, it's important to understand all the reasons to choose—or not to choose—any particular place. This way, when you do make that big decision, you'll be happy for many years to come. Talk to your real estate agent (like those at Century 21 Reward Realty).