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Are Corner Lots More or Less Valuable?

We are often asked, “Are Corner Lots More Valuable?” It is a question that sparks some healthy debate. Corner lots, characterized by their adjacency to intersecting streets, present a unique set of advantages and challenges that can significantly impact their value. In this article, we will review the intricacies of corner lots, examining some of the factors that contribute to their valuation, corner lot pros and cons and hopefully provide an answer to this question.


corner lot advantages

The Allure of Corner Lots

Corner lots, with their unique positioning, possess several characteristics that make them appealing.

  • Fewer Adjoining Neighbors: One of the primary advantages of corner lots is having one less neighbor. Not saying this to be anti-social or unneighborly, but not having an adjoining neighbor on one side can give some added privacy and avoid any property line disagreements (e.g., fencing, landscaping).

  • Architectural Flexibility: Corner lots often offer more flexibility in terms of architectural design. Homeowners may have the opportunity to orient the main entrance or key living spaces toward the most aesthetically pleasing or practical street. This flexibility can enhance the overall appeal of the property and potentially increase its value.

  • Curb Appeal and Larger Frontage: Corner lots typically boast a larger frontage compared to interior lots, providing more space for landscaping and creating a visually appealing façade. The increased curb appeal can contribute to a positive first impression, influencing potential buyers.

  • Potential for Dual Access: Dual access, facilitated by the property’s adjacency to two streets, can be a significant asset. This can be especially advantageous for parking, as it offers an alternate access point and may facilitate better traffic flow or egress/ingress to the property.

  • More Natural Light: Without an adjoining home on one of the sides, windows and doors on the side without a home will get more natural light into the home since there is no structure blocking or shading the home.

  • Parking Flexibility: If you invite groups of guests over and your home doesn’t have a large driveway, people tend to park on the street. With a house on a corner lot, guests could park on two adjacent streets close to the home, rather than trying to fit their cars on one road.


corner lot disadvantages

Evaluating the Downsides

While corner lots offer a range of advantages, it’s essential to consider the disadvantages of a corner lot that may impact their overall value.

  • Traffic Noise and Safety Concerns: The increased visibility and accessibility of corner lots comes with the downside of potential traffic noise and safety concerns. Properties located at busy intersections may experience higher noise levels, which can be a drawback for homeowners seeking a peaceful living environment.

  • Limited Privacy: Corner lots may face challenges regarding privacy, especially if the property is surrounded by sidewalks. Residents may feel exposed due to the constant pedestrian and vehicular traffic.

  • Land Use Restrictions: Local zoning regulations and land use restrictions can influence the value of corner lots. Some areas may have limitations on the type of structure and design. They may have requirements on the height of the home or added setbacks of the home from the street compared to interior lots. All of these can impact their potential uses and consequently their value.

  • Upfront and Ongoing Costs: The larger frontage and increased visibility result in effective to fronts. This often adds more architectural design detail and costs. Similarly, there is additional landscaping, fencing, walks, etc that contribute to the appeal of corner lots, but can also mean more maintenance responsibilities and costs.

  • More Trash & Dog Poo: Unfortunately, all that front and side yard is a collection area for trash that you’ll have to pick up. Similarly, for your neighbors with dogs who don’t pick up after them, that’s now your responsibility.

  • More Light Pollution: Another con for the corner lot is that they have increased streetlights and headlights from cars turning corners.


Wrap Up

Determining the value of corner lots in real estate involves careful analysis and site analysis of their advantages and drawbacks, considering all the items we have outlined above. Although I’ve done plenty of research on this topic which tends to state that corner lots are more valuable, in my opinion and experience as both a builder and corner lot homeowner, I believe they are less valuable than interior lots. Ultimately, a thorough evaluation of the pros and cons, couples with a keen understanding of the local real estate market, is essential for making informed decisions about the value and suitability of corner lots.



Additional Resources

  • Corner Lot Home Plans - Here are several plans to give you inspiration

  • Better Homes & Gardens - This article attempts to answer the questions whether you should buy a corner lot

  • Landscaping - This shares ideas for how to landscape a corner lot

  • Fencing - This shares several ideas for privacy and security fencing for corner lots

  • Noise Reduction - This shares ideas on how to minimize noise from outside the home


Comentários


“I have known Jon for many years. He and his team at Owners’ Ace are an invaluable resource to anyone looking to design and build a custom home. Having their assistance makes a complex process so much easier and successful. I recommend Owners’ Ace to my clients and to anyone looking to build their dream home.”

BG Holmberg, Top Custom Home Realtor in Tampa Bay Area

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