Home Buying in 91801>Question Details

Trojanfamily, Home Buyer in 91801

whats it called when there are 3 single family houses on a lot that shares the same drive way?

Asked by Trojanfamily, 91801 Sun Aug 9, 2009

would a property like this be worth less?

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An easement could quite possibly diminish a property value. A right acquired by one party to use the land of another party for a special purpose is an easement. Easements commonly are created by written agreement between the parties. The permanent right to use another's land for the benefit of a neighboring parcel is an easement appurtenant. In certain cases, if the only access to a parcel is through another's property, the owner may acquire an easement by necessity to reach his or her land. Easements are sometimes referred to as encumbrances.
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0 votes Thank Flag Link Sun Feb 28, 2010
What you're describing is called a "pipestem." An easement is involved for the driveway. Then, typically, there's a small driveway perhaps leading to the garage for each home.

I live on a pipestem. In my case, there are 4 houses. Each on its own lot.

A pipestem is usually used when there's an odd land configuration--enough land for the lots, but not really enough for 4 driveways.

The property would be worth slightly less, in most cases. Not a lot. Just a little. Some buyers want their own driveway connecting to the road. They don't want to share a driveway. On the other hand, often the homes are set a bit further back from the road, and if it's a busy or noisy road, being set further back is an advantage.

One drawback (sometimes) is that the homes themselves are kind of clustered together. Where I am, the lots themselves are nice and large, but the 4 houses are each on the nearest corners. So, I've got a nice back and side yard, but very little front yard. The house next to me, facing the street, has a nice, large front yard but almost no side yard.

Again, though, it's called a "pipestem." And it could have a minimal effect on values.

Hope that helps.
0 votes Thank Flag Link Sun Feb 28, 2010
Don Tepper, Real Estate Pro in Burke, VA
MVP'08
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The 3 houses are all on the same lot, or there is one driveway that serves 3 homes on 3 deparate lots?
Perhaps the word you're looking for is "easement" but that isn't what you are describing.
0 votes Thank Flag Link Sun Feb 28, 2010
Trojan,

One important thing here is to check and see exactly what the easement is for and how long the easement is granted. You can do this by getting a copy of the easement through your title company. This is important because if there isn't a legal easement in place then you could have a house with no legal way of getting to it.

Jennifer
0 votes Thank Flag Link Sun Feb 28, 2010
These is an easement. It would probably be worth less if you compare it to an exact comparable property with no sharing of the driveway. But probably not that much of a value decrease. Of course this all depends on the exact situation and for that you should pay an appraiser to look at the property for you. Good luck!

http://www.dawnsellssandiego.com/
0 votes Thank Flag Link Mon Aug 10, 2009
Hi Trojans,

Dorene addresses the less desirable of two situations. Even so, property owner's have a right to access their properties and established easements usually don't pose any serious threat to value that hasn't already been factored in. However, you say the homes are all on one lot? If this is the case then there is no easement and you simply have three units which share a driveway and most tenants are grateful for off street parking..
0 votes Thank Flag Link Mon Aug 10, 2009
The property is not worthless when it has a shared drive way. This is common is Rural areas where there is one long street connecting several properties. This is called an easement, where all property owners have use of the driveway.
0 votes Thank Flag Link Sun Aug 9, 2009
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