Is a Corner Lot Right for You?
When purchasing your dream home, a corner lot may be worth consideration, depending on your perspective. Some prospective buyers find corner lots attractive, while others would rather avoid the concerns that can converge at a street corner. Consider these six questions to determine whether a corner lot is the right choice for you:
Do you like having more space?
Corner lots sometimes have more land compared to traditional home plots. That could mean more yard space for play, recreation and outdoor entertaining. However, whether a corner lot actually has more space is specific to each property. Experts caution that some corner lots create the illusion of having more space because they are not directly adjacent to another home. They may have larger front yards but smaller backyards. A property with attractive landscaping in the front can increase property value when it comes time for resale. But if the backyard is small, can it be used for cook-outs, entertaining and relaxing?
Do you need more parking?
A corner lot might provide more curbside parking. That extra space could be a big advantage when you entertain visitors and family, or if you want space for a recreational vehicle or boat. On the other hand, in some locations curbside parking may not be allowed because of the proximity to the intersection.
Will the additional maintenance be manageable?
Because a corner house is more visible from the street, it could demand more upkeep to maintain its curb appeal. Ask yourself if you will be up to the task of putting more effort into keeping the public-facing sides of your house and yard presentable.
How do you feel about traffic?
Depending on where the house is located, there may be more cars rolling by on the intersecting streets. Automobile noise and headlights shining by at night may reduce the feeling of privacy within your home. Extra traffic also can create safety and privacy issues—your children running into the street or pedestrian passers-by cutting corners through your lawn. These concerns are fixable. You can soundproof your home with double-paned windows, hang appropriate window coverings such as blinds or drapes, and plant shrubs or install a fence to increase privacy. Although if the corner lot is in a quiet neighborhood, these issues may be less of a concern.
Will the home be a target for criminal activity?
Corner homes are said to be attractive to burglars because there are a greater number of escape routes. But whether there is truth in that statement depends on the neighborhood. Some corner homes discourage criminal activity because of high visibility by other neighbors.
When do you plan to sell the home?
Realtors generally agree that corner homes are more challenging to sell, due to the perceived drawbacks. If you plan on staying in the home for a while, you might disregard resale value and remind yourself that some shoppers seek out the benefits of corner homes. After all, when it comes to buying a home, the beauty really is in the eye of the beholder.
-From Realtor.com