Corner lots tend to get a bad rap in real estate. Location is a crucial consideration in the decision-making process of buying a home, and drawbacks of living on a corner property, such as noise, become apparent to people quickly. Unfortunately, many people tend to overlook the feeling of openness and light that a corner property brings to the table, among other things. This week, we’ve outlined some hidden benefits of living on a corner property to consider during your home-buying process.
Corner lots on busy roads tend to be priced lower than surrounding homes, so if you can deal with a bit of noise, you’ll likely save a considerable amount of money. With interest rates fluctuating, every penny counts!
There’s also a significant chance that you’ll save money on insurance rates with a corner property. Especially in urban areas, corner lots may serve as a place to put safety features such as fire hydrants, which typically decrease home insurance costs.
In general, corner lots have bigger yards and more square footage. Typically, you’ll get a more spacious house and room outdoors for gardening, pools, and entertaining for a similar price to surrounding homes.
Especially in urban areas, extra parking is an extreme advantage of owning a corner property. More parking spaces are available when your home is surrounded by twice the amount of street space than a traditional lot. This hidden benefit is advantageous if you plan on entertaining large groups of people in your home.
Corner homes in thickly settled areas are distinguished due to the extra sunlight they get through more windows. While most homeowners are desperate to maximize any sunlight they get, inhabitants of corner lots have ample light to enjoy.
Considering all the benefits of a corner home, traffic and extra yard work in the spring may be worth it. Are you interested in buying or selling a corner lot of your own? Contact us today!