Are you thinking about buying a new home, but you’re not sure whether putting your money into a corner lot would be a smart financial decision for you at this time? You have discovered the right place to be. In this article, we will absolutely allow you to know the corner lot pros and cons, which may potentially shed some light on the problem for you.
When it comes to purchasing property, one of the most significant considerations is always the location. This is common knowledge. The location of a home is one of the most important factors in determining its market value, and this is true whether you want to buy or build the home. It is a common misconception that selecting a location for your house just entails picking a well-developed area that is, ideally, convenient for you and for your family that near or accessible in hospitals, school, market, gym and playground. However, this is only part of the decision-making process. After you have chosen the location in which you want to invest in real estate, the next thing you need do is consider the neighborhood in which you want your new home to be located.
Read also: What Makes a Good Home Location?
In general, park-facing and corner plot homes command a price premium over the other types of real estate. Even though it’s very obvious why the former is in such great demand, a lot of folks just don’t get why corner plots are worth so much more money than regular plots.
As a result of this, in order to be of assistance to you, the following is a list of some of the most noteworthy pros and cons of purchasing a corner lots.
PROS of Buying a Corner Lot Houses
Corner lots are popular for a variety of reasons, and because we like to put a positive spin on things, we will begin by discussing the benefits of having a corner lot, which include greater design flexibility, additional space, access to many conveniences, additional yard space, a greater sense of privacy, and an abundance of parking.
Those looking to invest in real estate properties will find that purchasing a home that is situated on a corner lot is a good chance for real estate investment and will be an ideal choice for them to make. You might not have given it much attention in the past, but having this kind of ownership comes with a number of perks. So this the excited part will be started…
Read also: How to Choose Where to Invest in Real Estate
A Greater Living Space can be found on Corner Lots.
When looking to purchase a home, you should not base your decision only on the size of the house. There are further aspects that will have a long-term impact on your life, such as the location of the home and the amount of living space it provides. One of the things that nobody wants in their brand-new house is a spare room that has an awkward layout. Because corner lots typically come with wider additional lot areas, owners have more flexibility in deciding how to decorate the outside of their homes when they purchase one of these lots.
If you acquire a corner lot, the value of your home might go up by as much as 10 percent or even more. Whether you want to construct a garage or an additional room in your home, corner lots provide more space than standard lots. This might be the deciding factor when it comes to living space, level of privacy, or even the size of the yard if the home is situated on a corner lot since it gives greater square footage than other types of homes.
Facilitated Access to many Conveniences
If you want to have quick and easy access to a variety of facilities, like clubhouses, gym, tennis court, parking, swimming pools, purchasing a home on a corner lot can be the ideal option for you. Because corner lot houses are typically located near to one another rather than far away from everything else in their immediate surroundings, you will have speedy and accessible access to these facilities. The majority of people who purchase corner lots do so because they have convenient access to major roads and highways, which enable them to travel swiftly to any location within the town.
Designs that put their most Attractive Face Forward
Corner lot houses often come with more land and greater views, and since they have more room, they also have the possibility for some really attractive architectural corner house designs. The majority of the time, home designs on corner lots have garages with side entrances. This results in the front of the home not being hidden by a substantial front-entry garage door, but rather presenting a face to the street that appears to be a natural extension of the house itself. You may even create a second-floor balcony that looks out over the front of the home.
Additional Yard Space
The additional yard space that comes with corner plot homes for sale typically results in a price tag that is marginally more than that of comparable residences in the neighborhood. In most cases, corner homes come with two lawns, which is a wonderful thing since it provides you with more room to begin your very own garden, build a little play area for youngsters, or indulge in creative landscaping. You could even install some outdoor patio chairs on the grass and turn it into your evening tea time destination if your house is situated in such a way that it allows for view of your lawn. This would be possible given the placement of your property within the neighborhood. Your home’s overall visual appeal will be improved by the presence of two lawns, which might lead to an increase in its market value.
A Greater sense of Privacy for Home Buyers
Buying a home that is situated on a corner lot is advantageous for a number of reasons, one of which is the increased level of privacy it affords its inhabitants. This is primarily due to the fact that their neighbors are located further away from them or that there is an additional barrier between them and them to ensure that they do not see what you are doing in your yard. Your family will enjoy increased levels of privacy if there are fewer people living around them. Having two entrances, one for motorists and one, optionally, for pedestrians, is another perk that comes with the territory. Having two entrances is very helpful, especially if you have a lot of friends over or are always waiting for packages to be delivered.
Additional Parking Spots
This is likely one of the most major reasons why corner plots tend to be popular with homebuyers. However, there are numerous other reasons why this may be the case. It is not surprising that real estate investors and regular buyers are in a hurry to purchase corner plot properties. This is because these properties enable homeowners to park their vehicles on either side of the plot, which is a significant benefit in large cities and urban communities, where the lack of parking space has become a major issue. Your visitors and guests won’t have a hard time locating parking either. There are plenty of spots available. Not to add, even if a corner home doesn’t come with an adequate sized garage on the inside, you can always turn one of the two lawns into a garage. This is an advantage of buying a corner house. You should, however, verify with the appropriate authorities to determine whether or not you have permission to carry out the action in question.
CONS of Buying a Corner Lot Houses
Buying and owning a house that is situated on a corner lot comes with a variety of advantages. They make the most of the available space, have detached garages, and other features that make them stand out in the area. There are a number of compelling reasons to purchase a property that is situated on a corner lot. However, real estate brokers will probably not notify you about the potential cons of buying a corner property in their listings.
The benefits of having a home on a corner lot are outweighed by the cons in this particular scenario. There is significantly more room to move around in a corner lot home, and there are only neighbors on two sides of the property. On the other hand, there are several disadvantages that make owning a corner lot home an unneeded luxury. The following is a list of some of the disadvantages of corner lots that you might not be aware of.
More Required Maintenance will be need
As was just said, corner lots typically provide an additional yard space. Maintaining it may be a significant burden, despite the fact that it is widely seen as a significant benefit. Because you have an additional lawn, you will be compelled to spend roughly twice as much on landscaping and maintenance as you would have if you did not have an additional lawn. In addition, because corner residences have greater exposure as well as increased visibility, you will need to take extra special care of the facade of the building. You will need to cover approximately twice the surface area of the neighboring homes when painting the outside walls, which will drive up the cost of the project significantly. Dealing with things like the upkeep and repair of things like sidewalks may also be a bit of an annoyance.
The Risk of Invasion of Privacy is Increased by Visibility.
If you live on a corner lot, your house may be more visible to potential intruders, those who like to look into other people’s windows, and any other type of unwelcome attention from the general public. Because corner lots are laid out differently than standard lots, residents can expect to see foot activity from two sides of the property rather than just one. When there are corner lots, there is twice as much garbage. People that stop their vehicles at the intersection typically discard their trash on the large yard. In addition to this, corners are an excellent place for school buses to make stops. And children, well, they tend to chuck things all over the place. A larger front lawn will require longer fences, which will result in increased expenditures if the homeowners organization does not regulate fence heights or prohibit them entirely in the guise of improving traffic safety.
Increased Contact with various forms of Pollution
When compared to their neighbors, those who live in corner homes are more likely to be subjected to screaming automobile horns and other types of noise pollution. This is especially true if you live on a busy crossroads or close to the main road in your neighborhood. You will have to put up with the sounds of light and heavy traffic on both sides of your property, in contrast to the other people who live in the neighborhood, who only have to deal with traffic on one side of their house. In the event that there is a bus stop situated within walking distance, you may anticipate that there will be a significant amount of foot traffic during the peak hours. This might potentially result in an increase in the amount of noise pollution. However, it is essential to point out that this may not be as significant of a concern in more sedate communities that do not experience a high volume of vehicular traffic. These communities should be considered.
The Potential for Calamities and Accidents
The fact is that there is a relatively minimal chance that a car will veer off the road and smash into your front yard. However, there is still a chance based on the statistics. Even when there are signs indicating the speed limit, people who are driving on one street may forget to slow down or check the other street. It is completely out of our control, and there is nothing we can do to stop it from happening.
Should I Consider Purchasing a Corner Lot?
Even if they all have the same qualities, not all corner lots were designed in the same way, which means that they all have the same drawbacks. It all depends on the layout of the lot, the situation, the layout of the floor plan of the home that stands on the lot, as well as the potential hazards and other calamities that can affect the house.
Meanwhile, If you are new to the world of real estate, you might want to check out our complete buyers guide on how to purchase your Bria House and Lot. This guide will walk you through the steps involved in making this important investment. You can also read about the things to do before buying a lot in the Philippines.
For more details and inquiries, just visit the Bria Homes website and Like and follow “Bria Homes, Inc.” On Facebook, Twitter, Instagram, Youtube and Pinterest, Spotify, Viber Community, Telegram Channel, Kakao Talk, LINE, and WhatsApp, or call 0939-887-9637.
Written by Alfred Alaba
