Should I Buy A Corner Lot For My New Custom Home?
The popularity of corner lots goes all the way back to the days of the horse and carriage. Homeowners would pay a premium for a lot where the barn, animals and the unpleasant odors were away from the main house. Now, years later, that rumor still persists, some lot buyers still think buying a corner lot is the way to go.
As a Custom Home builder, I can assure you that's far from the truth. A corner lot is actually a detriment and should sell for a discount. Here's why:
1. Corner lots have three, rear yard neighbors, instead of just one so privacy is limited.
2. They usually require privacy fences due to having multiple rear neighbors.
3. Homes built on a corner lot have to be custom designed due to setback and positioning issues. Most stock plans will be out of the question and a custom design will cost more.
4. Building setbacks are more sever for corner lots so the front yard is quite large while the rear yard where you actually need more privacy is curtailed. The lot actually has 2 front setbacks, front and front side.
5. Since corner lots have in effect two front yards, assessments for sewer, water lines and road construction are higher for corner properties.
6. Finished homes on corner lots are more difficult to resell due to the above reasons that become apparent once a home is constructed on the property.
There is one advantage to a corner lot in communities with front, facing, garages, a corner lot enables you position the garage so the overhead door faces away from the front door of the house. This doesn't apply to Custom Home Communities as they usually require motor-courts or side entry garages.
Have an awesome day!
Mike
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