Are corner lots more valuable? It’s a question that many homeowners find themselves asking when they’re in the market to buy or sell their property. There’s no doubt that corner lots present unique opportunities and challenges, and it’s important to consider both sides of the coin before making any decisions.
One of the reasons why corner lots are often considered to be more valuable is because they tend to offer more space and privacy than other lots. With no neighbors on one side, homeowners can enjoy a greater sense of seclusion and outdoor space. Additionally, corner lots often have more street frontage, which can be a major selling point for businesses or those looking to sell their property in the future.
Of course, it’s not all sunshine and rainbows when it comes to corner lots. Depending on the location and layout of the lot, there may be certain downsides that need to be considered. For example, corner lots may be subject to more traffic noise and pollution than other lots, and they may require more maintenance and upkeep due to their unique landscaping and drainage needs. Nevertheless, for many homeowners, the added space and privacy that corner lots provide make them a worthwhile investment.
Pros and Cons of Corner Lots
Corner lots are properties that are situated at the intersection of two roads. These types of lots are seen as desirable by some homebuyers because they offer several benefits. On the other hand, there are also potential issues that come with owning a corner lot. In this section, we’ll be discussing the pros and cons of purchasing corner lots.
- Increased visibility: Corner lots tend to have more street frontage than other lots, giving the property more exposure and allowing it to be more visible. This could be advantageous for those who want to start a business from their home or for those who are looking to sell their property in the future. Increased visibility can also make the property feel more spacious and open.
- Greater access to sunlight: More exposure to natural light is another benefit of corner lots. Due to their position, corner lots receive sunlight from multiple angles, which could help reduce energy bills. Extra natural light can also create a cheerful and inviting atmosphere in a home.
- Higher resale value: The increased visibility and natural light of corner lots often translate into higher resale values. Corner lots can typically be sold for more money than similar properties that are not located on a corner.
- More space: Corner lots often have more space than other lots. This could be beneficial for those who want to build additions or install outdoor features like a garden or a pool. Extra space can also provide a sense of privacy and seclusion.
While there are several benefits to owning a corner lot, there are also some potential drawbacks:
- Higher traffic: Due to their position, corner lots sometimes have more traffic than other lots. This could be inconvenient for those who want a quieter home, especially if the corner is particularly busy or has commercial use. Increased traffic can also pose safety concerns, particularly for families with young children.
- Maintenance costs: Corner lots often require more maintenance than other lots. With more street frontage comes a larger area that needs to be maintained, which could be difficult or time-consuming depending on the size of the lot. Additionally, a corner lot’s landscaping often falls under the jurisdiction of local authorities, which could lead to extra maintenance costs.
- Less privacy: Corner lots are more exposed than other lots, which could be problematic for those who value privacy. With two sides facing the road, there may be less room to have a backyard or outdoor space that feels secluded.
Benefits of Owning a Corner Lot
Corner lots are some of the most sought-after properties in any community. They are not only larger in size than most lots, but they also offer a number of benefits for both homeowners and investors.
1. More Natural Light and Fresh Air
Because corner lots have only one contiguous neighbor, they have fewer obstructions to the sun and wind. This means that the homes sitting on these lots receive more natural light and fresh air than homes on interior lots. This makes the homes brighter, better ventilated, and healthier to live in.
2. Greater Curb Appeal and Visibility
- Corner lots have a great appeal for their unique position. They are the first thing people see when driving into a neighborhood, so they always stand out.
- Corner lots often have more space for landscaping and a more extensive setback from the street. This extra landscaping can bring out the best in the home, creating a more attractive and luxurious appearance.
- The visibility of corner lots is an excellent advertising benefit for business owners. As a result, these properties are highly desirable for commercial use.
3. Potential for Higher Property Value
Corner lots have a higher overall value than interior lots. This is due to the extra space they occupy, their greater privacy from neighbors, and their unique position in the community. Additionally, resale value is higher for these types of properties due to their appeal and desirability.
4. More Versatility in Building Design
Because corner lots often have fewer restrictions on their design, homeowners can take advantage of the extra space by building an expansive outdoor living area or a more extensive garage. Owners can also design homes with two front entries or a wrap-around porch that would provide the desired floor plan. This freedom enhances the likes, wants, and needs of the homeowner and starts to be a matter of individuality.
Overall, owning a corner lot has a lot of benefits. From more natural light and fresh air to greater curb appeal and property value, investing in corner lots is an excellent way to secure your future and your investment.
Landscaping Tips for Corner Lots
Corner lots can be a great asset to any homeowner, particularly for those who enjoy a little extra space and privacy. However, they also come with their own unique set of landscaping challenges. From increased traffic flow to additional exposure, there are a number of factors to consider when designing and maintaining a corner lot landscape. Here are some tips to make the most out of your corner lot:
- Maximize Curb Appeal – Since corner lots are often located at the intersection of two streets, they offer a prime opportunity to make a statement. Consider adding a stately tree or large ornamental shrub to the front yard to add visual interest and impact.
- Embrace the Corners – One of the most significant challenges of a corner lot is the awkward, pie-shaped corners that can be difficult to landscape. Rather than fighting this issue, embrace it by creating focal points around these corners. Add a decorative bench, planting bed, or water feature to create a welcoming space.
- Use Hedges to Create Privacy – Since corner lots are often more exposed than other lots, it can be challenging to create a sense of privacy. Consider using tall hedges or ornamental grasses to help create a visual barrier between your yard and the street or neighboring properties.
The Importance of Plant Selection
When landscaping a corner lot, one of the most critical decisions you’ll make is plant selection. Since these lots are often exposed to more direct sunlight and wind, you’ll need to choose plants that can withstand these conditions. A variety of drought-tolerant and wind-resistant plants make great choices for corner lots. Some examples include:
- Ornamental grasses, such as fountain grass or pampas grass
- Succulents, such as sedums or agaves
- Drought-tolerant shrubs, such as lavender or Russian sage
The Benefits of Curved Walkways
A curved walkway can not only add visual interest to your corner lot, but it can also serve a practical purpose by directing traffic flow. Rather than designing a straight path that cuts across your yard, consider curving the walkway around your landscaped features. Not only will this create a more pleasing aesthetic, but it will also help to guide foot traffic and make your garden easier to navigate.
| Plant Name | Height at Maturity | Sunlight Requirements | Drought Tolerance |
|---|---|---|---|
| Fountain Grass | 3-4 feet | Full sun | High |
| Sedum | 6-12 inches | Full sun to partial shade | High |
| Lavender | 2-3 feet | Full sun | Moderate |
By following these basic landscaping tips, you can create a beautiful and functional outdoor space for your corner lot. Whether you’re looking to increase privacy, highlight your home’s unique features, or simply create a more welcoming atmosphere, a well-planned landscape can go a long way. So get started today and start enjoying all the benefits of your corner lot to the fullest!
Best Architectural Designs for Corner Lots
Corner lots are often considered prime real estate due to their ideal location, accessibility, and usually larger lot sizes. These lots are often sought after by serious homebuyers looking to invest in a home with a great architectural design. However, being situated on a corner lot presents unique challenges to architects and designers, but following are some fantastic architectural designs that are best suited for corner lots.
- The Wraparound Porch: This design usually creates a comfortable outdoor living space while making the house look welcoming and elegant, suitable for families that love to spend time outside. It also serves as a perfect space for entertaining. Wraparound porches work well with both modern and classic-style homes.
- The L-Shaped Design: An L-shaped architectural design is typically used in corner lots as it takes advantage of the extra space by creating privacy. The design offers increased visibility of the home from the street view, as the home’s various rooms can be seen at different angles.
- The Courtyard Design: A courtyard design is ideal for corner lots as it helps to add privacy to an open space property. This design also offers higher security with the doors opening up to the yard. The open space concept is perfect for families with children and pets that need more space to play and interact, as they can enjoy the outdoor spaces without leaving the property’s premises.
Another design suitable for corner lots is the two-story home design. This design is uniquely challenging as it has to work within the site’s constraints. Moreover, a two-story home design allows for maximum use of the land while providing added security and privacy. It also gives the homeowner the flexibility to have separate living spaces between the two stories, creating separate entertainment and living areas in the house.
The Benefits of Building a Custom Home on a Corner Lot
Corner lots are highly sought after because of the benefits they offer homeowners. Homes built on a corner lot can have a bigger and more beautiful layout. Some of the benefits of building a custom home on a corner lot include:
- The Extra Space: Corner lots usually have more space and better size. Therefore, homeowners can build more extensive outdoor areas like patios, decks or swimming pools while still maintaining more yard space.
- Better Curb Appeal: A custom-built home on a corner lot has added appeal as it can take advantage of two street views. This increases the home’s visibility, making it more noticeable from the street showcasing the architect’s skills and creativity.
- Makes a Statement: A custom-built home on a corner lot allows homeowners to create one-of-a-kind structures that either blend with the surrounding homes or stand out due to unique architectural designs or colors that add a special touch to the neighborhood.
- The Unique Challenges: Corner lot homes present some unique design challenges. The designers and architects working on the project can come up with innovative ideas to incorporate various design elements such as walkways and open spaces to help the home stand out and look attractive from every angle.
Conclusion
Corner lot homes tend to offer homeowners an opportunity to create a unique and beautiful home with added privacy and space. It is essential, however, to work with an experienced and skilled architect or custom home builder when designing a corner lot home to ensure optimal use of the property. The above-listed architectural designs are a few that work well for corner lots, and homeowners should work with their designers to create a one-of-a-kind home that suits their needs and lifestyle.
| Design | Pros | Cons |
|---|---|---|
| The Wraparound Porch | Increased curb appeal, privacy, and additional outdoor living space. | Requires additional maintenance and cleaning. |
| The L-Shaped Design | Offers privacy, increased visibility, and better use of the land space. | Challenging to design and may require creative solutions to maximize the space. |
| The Courtyard Design | Increased privacy and security, perfect for families with children and pets, extra outdoor living space. | High maintenance cost, potentially requires more water. |
| The Two-Story Home Design | Offers additional living and entertainment areas, excellent use of land and space, increased privacy and security. | May be more challenging to design and may require more clearance from the city due to the height restrictions. |
When looking to build a custom home on a corner lot, it is crucial to plan and research the various architectural designs beforehand and to choose a design that suits your requirements and style.
Corner Lot vs. Interior Lot: Which is Better?
Are Corner Lots More Valuable?
When it comes to the value of a property, its location plays a significant role, and corner lots tend to have an advantage over interior lots. Here are some reasons that may make corner lots more valuable:
- Higher Visibility: Corner lots enjoy higher visibility since they face two streets. This feature makes them more attractive to buyers, especially those who want to run a home-based business.
- Majestic Views: Corner lots often have a better view of the surrounding landscape, which makes them more appealing to buyers who want a beautiful outdoor space.
- More Space: Typically, corner lots are larger than interior lots, which allows homeowners to extend their outdoor living space and enjoy more privacy.
- Limited Neighbors: With only two adjacent neighbors rather than three or four, corner lots provide more privacy.
However, corner lots have some potential disadvantages that may affect their value:
- Higher Traffic: Because corner lots are exposed to two streets, they may experience more traffic flow and noise, which may not be ideal for some homeowners.
- Less Usable Yard Space: While the larger size of corner lots is often seen as a benefit, the irregular shape of the lot may result in less usable yard space.
- Higher Maintenance Costs: Due to their irregular shape and larger size, corner lots may require more maintenance, such as snow removal, lawn care, and landscaping.
Ultimately, the value of a corner lot depends on the buyer’s preference and the location of the property. So, if you’re considering buying a corner lot, make sure to weigh the advantages and disadvantages carefully and speak to your real estate agent before making any decisions.
| Advantages | Disadvantages |
|---|---|
| Higher Visibility | Higher Traffic |
| Majestic Views | Less Usable Yard Space |
| More Space | Higher Maintenance Costs |
| Limited Neighbors |
In conclusion, corner lots have their advantages and disadvantages, but they can be more valuable than interior lots due to their unique features and potential for better capital gains. As their buyer, it’s recommended to consult with a real estate agent that is knowledgeable about the area in order to help you make the best decision for your needs and lifestyle.
How Corner Lots Affect Property Value
One of the biggest factors that determine the value of a property is its location. When it comes to corner lots, there are various ways in which the location can influence the value of the property. Below are six ways how corner lots affect property value:
- Increased exposure – Corner lots tend to have more exposure than other properties due to the fact that they are located at an intersection. This visibility may lead to increased foot traffic, which can be advantageous for commercial properties looking to attract customers.
- Greater privacy – On the other hand, some corner lots may experience a decrease in privacy because of their location. Passersby may have a direct view into the property through side yards, driveways, or other windows in the vicinity of the street.
- More abundant natural light – Because corner lots have more outside-facing walls, they tend to have more windows and consequently, more natural light. This aspect can be very appealing to homebuyers who are looking for spaces that feel bright and airy.
- Less yard space – While corner properties may have more frontage, they may also have less usable yard space due to setbacks being imposed on two sides of the property. These restrictions can make it challenging for homeowners to use the outdoor space effectively, especially if their lot size is small to begin with.
- Potential noise reduction – Depending on the street’s layout and the property’s location, corner lots may experience a reduction in noise from one of their sides. Buildings and other obstructions on one side of the property can help to attenuate traffic or other ambient noise that can be present on the other side of the property.
- More parking opportunities – With two sides of frontage, corner properties may offer greater on-street parking opportunities than other properties in the area. This feature could be desirable for commercial buyers, as it can increase the availability of parking spaces for customers or employees.
Corner Lot Valuation
When determining the value of a property situated on a corner lot, an appraiser will consider all the aspect mentioned above. The appraiser will look at sales of similar properties in the area, comparing and assessing the variations in amenities, size, yard usability, noise levels, and location relative to the street. The appraiser will also apply a comparative analysis with similar properties since corner parcels tend to be much more unique than other parcels.
| Property Location | Property Type | Square Footage | Bedrooms | Bathrooms | Lot Size | Garage Size | Sale Price |
|---|---|---|---|---|---|---|---|
| Corner Lot | Single-Family Home | 2,200 | 4 | 3 | 8,000 | 3-Car | $500,000 |
| Interior Lot | Single-Family Home | 2,200 | 4 | 3 | 8,000 | 3-Car | $480,000 |
| Corner Lot | Commercial Building | 10,000 | N/A | N/A | 20,000 | 10-Car | $2,000,000 |
| Interior Lot | Commercial Building | 10,000 | N/A | N/A | 20,000 | 10-Car | $1,500,000 |
These values are for illustrative purposes only and demonstrate how a corner lot’s value differs from an interior lot of the same size. As observed in the table above, corner lot premiums vary depending on the location, property type, and amenity implications.
Unique Features of Corner Lots to Consider
A corner lot is a unique piece of property with distinct advantages worth considering. Here are some key features that give corner lots significant value:
- Visibility: Corner lots are highly visible from different angles, which makes them great for commercial or retail spaces where exposure is key. A corner lot can attract more foot traffic and drive-by customers due to its prominent location.
- Accessibility: Because corner lots have two facing streets, it allows for easier access for both pedestrians and vehicles, making it a desirable location for busy businesses.
- Flexibility: Corner lots have more options in terms of building placement and parking areas, giving more room for creative architectural designs.
- Privacy: Depending on how the property is positioned, having one side not facing a neighboring house can provide added privacy.
- Landscaping: With two facing streets, there are more opportunities to showcase unique landscaping features such as gardens or fountains.
- Appreciation: Corner lots are typically more expensive when compared to their interior lot counterparts, and they usually appreciate faster in value over time due to their unique location and advantages.
- Expansion: In some cases, corner lots may allow for future expansion or development, providing further value and potential income-generating opportunities.
Maximizing the Value of Corner Lots
While corner lots have many advantages, it is important to take into consideration some important factors in making the most out of your investment:
- Location: The location of your corner lot can heavily determine the value of your property. A corner lot situated in a prime location – near schools or shopping centers, for example – can be more valuable compared to one located in a less-populated area.
- Zoning Laws: Being familiar with the zoning laws in your area is crucial, as some commercial or residential zoning changes may affect the potential value of your corner lot in the future.
- Architectural Design: Building a unique structure on a corner lot can increase its perceived value, but be sure to check with your local architectural review board before starting any construction.
Examples of Successful Corner Lot Properties
Many successful commercial properties started as a corner lot investment. Take for example Walgreens, a pharmacy chain that has over 9,000 stores nationwide. Walgreens started with a single corner space in 1901, and has grown to become one of the largest drugstore chains in the world. Additionally, Starbucks has become a household name through careful corner lot selection and development. These examples demonstrate the value of corner lots when invested and developed properly.
| Company | Number of Locations |
|---|---|
| Walgreens | 9,277 |
| Starbucks | 32,660 |
With thoughtful planning and strategic development, corner lots can provide an excellent investment opportunity that can bring added value to any property portfolio.
FAQs: Are Corner Lots More Valuable?
1. Why are corner lots considered more valuable?
Corner lots are considered more valuable because they come with a few benefits, such as more visibility and accessibility.
2. Is it more expensive to buy a corner lot?
Yes, corner lots tend to be more expensive than regular lots due to their location and benefits.
3. Can you build a house on a corner lot?
Yes, you can build a house on a corner lot, just like any other regular lot.
4. Do corner lots have more yard space?
Corner lots may have a bigger yard space depending on the size of the lot, but it’s not a guarantee as some corner lots may be smaller than regular lots.
5. Are corner lots more suitable for commercial use?
Corner lots are more suitable for commercial use because of their visibility and accessibility, but they can also be used for residential purposes.
6. Do corner lots have more noise pollution?
Corner lots may have more noise pollution compared to regular lots due to their location, but it largely depends on the specific location of the lot.
7. Are corner lots always the best option?
Corner lots may not necessarily be the best option for everyone, as it ultimately depends on personal preferences and needs.
A Closing Note on Corner Lots
Thank you for reading our FAQs on whether corner lots are more valuable. As you can see, corner lots come with their own advantages and considerations, but they may not always be the best option for everyone. We hope this article has been helpful in providing you with some insight on corner lots. Don’t forget to visit us again soon for more useful articles on real estate!