What To Love (and Hate) About Corner Lots: Factors to Consider Before Buying

Whether you're house-hunting for your dream home or looking for a lot to build it, you might have come across a corner lot and been contemplating if it’s a good location.

What is a CORNER LOT?

A corner lot is a parcel of land located at the intersection of two roads or streets, typically with one street running along the front and another along one side of the property. These lots can be found in various locations, from the heart of a neighborhood to busy thoroughfares.

Historically, in the 1990s, corner lot homes faced challenges in the market. Buyers often hesitated due to concerns over increased street exposure, reduced privacy, and noise. To counteract this negative perception, some developers introduced premiums ranging from $5,000 to $10,000 for corner lots, which successfully attracted buyers. Today, corner lots are viewed similarly to cul-de-sacs in terms of desirability, as they offer unique benefits that appeal to many homebuyers.

In this article, we’ll delve into the pros and cons of corner lot properties, providing valuable insights to help you make informed decisions when considering your next home on a corner lot.

Most desirable features:

BIGGER YARD SPACE: One of the most significant advantages of a corner lot is the increased yard space it offers compared to other regular lots. This provides opportunities for a home to have a different floor plan and yard configuration. For example, you could have a side-entry garage instead of a front-entry garage, which makes for great curb appeal as the front of your home won't be obscured.

Also, you have more room to create outdoor areas that can accommodate various activities—whether it’s a pool, play equipment for kids, a bigger garden, or just extra land space for playing sports or hosting gatherings.

PLENTY OF NATURAL LIGHT: Corner lots offer more natural light than the others because, in most cases, no other homes are blocking the sunlight on three out of four sides. Especially for south-facing homes, you can enjoy natural light pouring into the home from every angle as the day progresses. It's also ideal for most sun-loving plants.

MORE PRIVACY: With just one neighbor close to your home, you won't feel nearly as exposed whenever you’re spending time in your backyard. If you’re concerned about the people walking down the sidewalks, you can install a privacy fence that will prevent anyone from peering in. Research if there are any restrictions on fencing, especially when it comes to materials and height.

MORE PROMINENT: If you enjoy the limelight and love exploring your creativity when it comes to landscaping and gardening, building a home on a corner lot will give you such freedom since they will feature prominently in the neighborhood.

The downsides:

A BIGGER YARD MEANS MORE YARD WORK: Since these lots tend to have larger yards, it could mean more work to maintain. Be prepared to do the extra work when it comes to keeping your lawns, landscaping, and cleaning other debris, or save up extra money to hire gardeners and other necessary service providers. 

MORE TRAFFIC: Corner lots see a lot more traffic given their location, bringing more noise, light from headlights shining into the home, and worse, some fairly bad accidents due to drivers running stop signs on the intersecting streets. However, it still depends on the neighborhood where the home is located since you won't likely get much traffic if it’s in a quiet, residential neighborhood. Depending on the layout of the house and the location of the windows, light at night may also interfere with your sleep. Determine if these things are a concern to you and consult with your real estate agent when assessing the home’s location.

HIGHER VISIBILITY: While you can get a bit more privacy with fewer neighbors surrounding your home, it can have higher visibility due to its corner location. This could pose a higher risk for burglaries since the property is more accessible from two streets. Still, there are ways to mitigate those risks if you're worried. You might consider having additional lighting and installing security cameras in various locations so you can have a bird’s eye view of what’s happening all around and near your property.

Bottom line:

So, is a corner lot right for you? Ultimately, the decision is yours to make. Like any unique property location, it’s essential to evaluate the pros and cons, determine which features are most important to you, and conduct thorough research on the home and neighborhood. Finally, be sure to consult with your trusted real estate agent before making such a significant decision. Perhaps the perfect house for you is on a corner lot, just waiting for you to take a second look.

FAQs Section

Q1: WHAT IS A CORNER LOT?

• A corner lot is a property situated at the intersection of two streets, providing unique features and considerations for potential homeowners.

Q2: WHAT ARE THE BENEFITS OF LIVING ON A CORNER LOT?

• Corner lots often offer larger yard space, increased natural light, and enhanced privacy compared to traditional lots.

Q3: ARE THERE DOWNSIDES TO BUYING A CORNER LOT?

• Yes, potential downsides include higher traffic levels, more yard maintenance, and increased visibility, which may raise security concerns.

Q4: HOW CAN I INCREASE PRIVACY ON A CORNER LOT?

• Installing privacy fences and landscaping can help shield your home from street view and create a more secluded outdoor space.

Q5: SHOULD I CONSULT A REAL ESTATE AGENT WHEN CONSIDERING A CORNER LOT?

• Absolutely! A knowledgeable real estate agent can provide insights on neighborhood dynamics and help you weigh the pros and cons of corner lots.

Suggested Links:

THE PROS AND CONS OF BUYING A HOME

• Explore the key advantages and disadvantages of homeownership, helping you make an informed decision about whether to buy or continue renting.

UNDERSTANDING PROPERTY TYPES: WHAT YOU NEED TO KNOW

• Get a comprehensive overview of different property types, including single-family homes, condos, and corner lots, to find the perfect fit for your lifestyle.

TIPS FOR FIRST-TIME HOME BUYERS

• Discover essential tips and tricks for navigating the home buying process as a first-time buyer, from securing financing to closing the deal.

MAXIMIZING OUTDOOR SPACE ON YOUR PROPERTY

• Learn creative ideas and practical advice for optimizing your outdoor areas, whether you have a large yard or a small patio, to enhance your home’s appeal.

NAVIGATING NEIGHBORHOOD CHOICES WHEN BUYING A HOME

• Understand the factors to consider when selecting a neighborhood, including schools, amenities, and community vibe, to ensure it meets your needs and lifestyle.