Home Buying in Mason>Question Details

Robert Dilbe…, Home Buyer in Cleveland, OH

What are the draw backs of buying a house on a corner lot.?

Asked by Robert Dilbert, Cleveland, OH Fri Jun 6, 2008

Hi Friends,

What are the draw backs of buying a house on a corner lot. Is it true that there is no re-sale value for a house on corner lot. Is there a rough formula about what the price difference between a corner house and a house next to that if all other features are same. I just need an apporixmate figure from some one experienced in this field. Any feedback or advice will be highly appreciated.

Thanks
Bob

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8
I see no drawbacks! I have lived on a corner lot for 25 years and I love it. My yard is actually bigger than my neighbors and my curb appeal is outstanding. It is all what you make of it!
Web Reference: http://www.liveinakron.com
1 vote Thank Flag Link Fri Jun 6, 2008
Corner lots are both good and bad. Privacy from neighbors on all side leads the good. Traffic noise and possible screeching of tires at a stop sign are bad.

Also, statistics show corner homes are burglary targets because there are usually two ways for the bad guys to escape from (i.e., two streets). Right behind corner lots are homes on a cul-de-sca where the rear of the home is obscured from public view.
0 votes Thank Flag Link Mon Jun 9, 2008
Bob..I live on a corner lot and love it...as a realtor, though, I have over the years had trouble selling homes on corner lots...I don't know if people feel say...that the neighborhood would want to install sidewalks...that they would be charged two assessments as they have two side to their property....so, just beware...there are also many people that want corner lots..
0 votes Thank Flag Link Mon Jun 9, 2008
Robert,

Higher traffic volume
usually more yard to manage
less privacy
more sidewalks to maintain(winter)
additional noise

The "Eckler Team"
0 votes Thank Flag Link Sun Jun 8, 2008
For us, here in Marin, we love corner lots, which usually mean larger lots, no neighbors on two sides minimum, more privacy; you would see it listed on the MLS noticing that the house is on a corner lot as a selling point. Although I do have to note that this is usually a small neighborhood.

I have heard other people say that being on a corner lot could mean busier traffic - especially if you are in a busy neighborhood. Some people say you have less privacy because you can have people driving / walking by on both sides.

But for us, it's usually a plus.

Sylvia
0 votes Thank Flag Link Sat Jun 7, 2008
Sylvia Barry,…, Real Estate Pro in Marin County, CA
MVP'08
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The only drawback may be the extra sidewalk you would be responsible for, but I think corner lots are great. Extra parking for guests, super curb appeal, and the extra light and space you get from having more yard on the side are all positives.
0 votes Thank Flag Link Sat Jun 7, 2008
A corner lot is only devalued to those people who are not interested in them. So, although there is typically an increase in the amount of property there is, it may not be desireable to all buyers. One reason for this is that there is not as much privacy in the backyard, for example.

It is NOT true that there is no resale value in a corner lot property. There is a market for every kind of property!

If you have any other questions, don't hesitate to ask.

Art ~ RE/MAX
Web Reference: http://www.ArtHotes.com
0 votes Thank Flag Link Fri Jun 6, 2008
Usually a smaller lot and difficulty with resale. Let me know if you have anymore questions!

Christina Asad Edwards, REALTOR
2006 & 2007 Sales Masters Top Agent
Christina.AsadEdwards@RealLiving.com
http://www.teamedwards.info
mobile or text 937-205-4741
office 937-573-0082
fax 937-433-3561
Real Living Realty - #1 in OHIO!
Realty, Mortgage, Title, Relocation
Web Reference: http://www.teamedwards.info
0 votes Thank Flag Link Fri Jun 6, 2008
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