When buying a home, the location is a key consideration in the decision-making process. While factors like the neighborhood or proximity to schools and downtown areas are a common topic of conversation, the lot placement is also an important aspect to consider when shopping for a home. In recent years, plenty of drawbacks of living on a corner property have become apparent to buyers, but many people overlook the feeling of openness and light that a corner property brings to the table. We’ve outlined some of the benefits of living on a corner property to consider in your home buying process.
In busy urban areas, extra parking is a huge advantage of owning a corner property. There are many more parking spaces available when your property is surrounded by twice the amount of street space than a traditional lot. This hidden benefit is especially useful if you plan on entertaining large groups of people in your home.
Corner homes in densely settled areas are distinguished due to the amount of sunlight they get through extra windows. While most homeowners look to maximize any bit of sunlight they get, inhabitants of corner lots have ample light to utilize when decorating the interior of their homes.
Corner lots tend to be noisy, especially ones on busy roads. The benefit of the possible increased noise pollution is that you may find a house that’s perfect for you AND affordable. Corner lots on busy roads tend to be priced lower than surrounding homes, so if you can deal with a little noise you’ll likely save a considerable amount of money.
There’s also a significant chance that you’ll save money on insurance rates when it comes to a corner property. If you live in an urban area, your city may use your corner as a place to put safety features such as fire hydrants. The proximity of safety features may decrease your home insurance.
In general, corner lots are larger in yard size and home size. For a similar price to surrounding homes, you’ll get a more spacious house as well as room outdoors to utilize for gardening, a pool, or entertaining. If you’re looking for an investment property, consider landscaping the yard to perfection and adding fun outdoor features to increase the home value.
When you consider all the benefits of a corner home, it may mean more to you than noisy traffic and extra yard work in the spring. Recently, corner properties have started to become more sought after by homebuyers. If you’re wondering about the potential projects for your home on a corner lot, reach out to us today!