When you’re in the market for a new home, one of the first decisions you need to make is what kind of lot to buy. Corner lots, which are typically defined as a piece of property located at the intersection of two streets, offer a unique set of advantages and disadvantages. For some homeowners, a corner lot is a dream come true because of its distinct features, while others may shy away due to potential drawbacks. Let’s delve into the pros and cons to help you make an informed decision if you’re considering a corner lot for your next home.
Benefits of Buying a Corner Lot
Increased Privacy
One of the biggest draws of a corner lot is the additional privacy it provides. Since the home is only adjacent to neighbors on one side, there is less direct interaction with others. This often translates into quieter living spaces and a more secluded feel—which can be a major plus for homeowners who value their privacy.
Ample Natural Light
A corner lot home often comes with a generous amount of windows on two sides, which not only enhances the curb appeal but also floods the interior with natural light. Daylight has been proven to boost mood and productivity, making it a desirable feature for many buyers.
More Yard Space
Typically, corner lots are larger than other lots in a neighborhood, providing more yard space. This extra land can be used for a myriad of purposes, such as gardening, entertaining, or even installing a pool. For growing families or those who enjoy spending time outdoors, the additional space is a valuable asset.
Flexibility in Home Design
If you are building a new home on a corner lot, you may have more architectural freedom. With potential access from two sides, there’s room for creativity in the design of the façade, garage placement, and entryways. This can result in a more aesthetically pleasing home with character and distinction.
Potential for a Higher Resale Value
Due to their unique location, corner lots are sometimes considered more desirable and might command a higher resale price. If you maintain the home well and the neighborhood’s popularity grows, your corner lot home could be a lucrative investment.
Drawbacks of Buying a Corner Lot
Increased Traffic Exposure
Located at the intersection of two roads, corner lot homes typically see more traffic. This can mean more noise, which may be bothersome to those seeking a quiet residential environment. The traffic also raises concerns about safety, especially for families with children or pets who may be tempted to wander near the street.
Higher Maintenance
With a larger yard comes more maintenance. Expect to spend additional time, effort, and money on lawn care, landscaping, and general upkeep for a corner lot. If not regularly maintained, the extra stretch of curb appeal could quickly become an eyesore affecting both the home’s value and the homeowner’s reputation within the neighborhood.
Less Privacy in the Yard
While the home itself may benefit from increased privacy, the opposite is true for the yard. Corner lots are often exposed to passersby from two sides, which means your backyard BBQs and family gatherings may not be as private as you’d like.
Snow Removal
In colder climates, corner lots present an extra burden when it comes to snow removal. Homeowners might be responsible for clearing snow from the sidewalks on two sides of the property, which can be a time-consuming and physically demanding task.
Stricter Zoning and Building Regulations
Some localities may impose stricter building codes or zoning restrictions on corner lots. These might include limitations on fence heights, setback requirements, or restrictions on additions, which can limit the homeowner’s ability to modify or expand their home.
Other Considerations
Parking Limitations
Corner lots may have restricted parking due to the lack of street frontage on one side or the presence of a side yard. This could be problematic when hosting events at your home or even for your everyday parking needs.
Landscape Design Challenges
The additional exposure means that landscaping needs to be appealing from multiple angles. This requires thoughtful design and potentially more elaborate and costly plantings and features to maintain the lot’s aesthetic from both streets.
Future Development Risks
There’s an inherent risk of future developments or changes in traffic flow that might further impact a corner lot negatively. What is a quiet corner today could become a busy thruway in the future, increasing noise and reducing privacy.
Insurance Costs
Insurance premiums could be higher for corner lot homes because they are more prone to accidents due to increased street exposure. They can also be more tempting targets for burglaries since they are easier to access and escape from on foot or by vehicle.
Finishing Thoughts
When considering the purchase of a corner lot, it is important to weigh the pros and cons carefully and to think about your personal lifestyle preferences and tolerance for the potential downsides. A corner lot can provide a beautiful setting for your home, offering unique advantages like more space, design flexibility, and perhaps even a higher investment return. However, the increased traffic, maintenance demands, and exposure should not be overlooked.
Ultimately, your decision should be informed by your priorities for privacy, peace and quiet, and maintenance responsibilities. It’s also wise to look at the neighborhood patterns and future development plans to assess potential changes that might affect your corner lot. As with any real estate investment, thorough research and a clear understanding of the lot’s characteristics will help ensure that you choose a property that fits your dream home’s needs and your lifestyle.
Frequently Asked Questions
What are the benefits of buying a corner lot?
Buying a corner lot can offer several advantages:
- More Space: Corner lots often come with more land compared to other lots in the neighborhood due to their position on two streets.
- Better Views: With fewer neighbors directly adjacent to your property, corner lots can provide more open views and an increased sense of space.
- Greater Privacy: With only one neighbor adjacent, corner lots can offer more privacy compared to interior lots with neighbors on both sides.
- Added Curb Appeal: Corner lots allow for a wider or wraparound frontage, giving homeowners more opportunity to enhance their home’s curb appeal.
- Potential for Dual Access: In some cases, corner lots might offer dual access from both streets, which can be convenient for entering and exiting your property.
Are there any downsides to buying a corner lot?
Despite their advantages, corner lots may also present some challenges:
- Traffic Noise: Being adjacent to two streets can mean more noise from passing cars and pedestrians.
- Higher Maintenance: With more curb to take care of and often a larger yard, corner lots can require more time and effort to maintain.
- Less Privacy: Since your property is more exposed to the street on two sides, there can actually be less privacy in front of the home.
- Safety Concerns: More street exposure can potentially lead to a higher risk of accidents, particularly with pets or young children.
- Zoning Restrictions: Sometimes corner lots face stricter building and zoning restrictions due to their positioning and visibility.
Do corner lots typically have higher property values?
Corner lots can have higher property values due to their larger size and potentially more appealing layout. However, the value also depends on the neighborhood, local market, and personal buyer preferences. Some buyers may value the positives of a corner lot more than others.
How does the maintenance of a corner lot differ from other lots?
Owners of corner lots tend to have more landscaping responsibilities because of the additional sidewalk and street-facing yard space. This can result in more time spent on yard work, including mowing, weeding, and maintaining any additional garden or hardscape features. Additionally, in areas with snowfall, a corner lot can mean more sidewalk to shovel and keep clear.
Is a corner lot more susceptible to crime or break-ins?
Views on this topic vary. Some argue that corner lots may be more susceptible to crime because they are more accessible and have less natural surveillance from neighbors. However, others suggest that the increased visibility from two streets makes a corner lot a less attractive target for crimes. It’s important for homeowners to consider proper lighting, fencing, and security measures regardless of where their home is located.
Are there specific landscaping or fencing considerations for a corner lot?
Yes, corner lots may have special considerations for landscaping and fencing. Many cities have regulations regarding the height and type of fence that can be constructed on a corner lot, especially concerning sightlines for traffic. Landscaping may also need to be planned with consideration for maintaining visibility at the corner for drivers and pedestrians. And since the lot is more exposed, the choice of plants and trees may also take into account the need for added privacy and noise reduction.
Can I build extensions or additional structures on a corner lot?
Building expansions or additional structures on a corner lot will depend on local zoning laws, building codes, and lot size. There may be specific setback requirements or restrictions due to the lot being at an intersection. It’s advisable to consult with the local building department or a professional architect before planning any significant modifications to a corner lot property.