What sorts of things are important when selecting your lot? Location, location, location!
Know the Area
Before selecting your lot, take a drive through the neighbourhood. Get out of your car and take a walk around. Grab your bike and cycle through the area. Do this at different times of day and on different days of the week to get a feel for how dynamic the area can be.
Evaluate the Potential for Growth
If the area is growing fast, your home will quickly appreciate in value. Rapid growth can impact a neighbourhood in the short term. You will need to take this into consideration if this will affect your needs. Will schools, roads, and public services be able to keep up with the demand of a population boom? These are all important growth considerations to be aware of when choosing your lot.
Check Out Nearby Facilities and Amenities
Are there parks and recreational facilities nearby? Are there high-quality schools in the area? Even if you don’t have children, a good school system can increase the value of your home when it comes time to sell.
Time Your Commute
Take the journey on a test drive. A short distance from your new home to work, school, and other extra-curricular activities may be high on your list of priorities. Commute time has been linked directly to overall well-being. A shorter commute time means less time in the car and more time with your family.
Research Nearby Future Development.
Undeveloped land nearby can be utilized in a variety of ways. Depending on how the land is developed, it can either positively or negatively affect the value of your home. Take the time to find out what future developments will be and what impact they will have on you and your home.
Weigh Out the Pros and Cons of Different Types of Lots
If you’ve already chosen a model for your new home, ensure that the lot you select can accommodate its size within the allotted building pocket. Not every model can fit on every lot, so it must be a good match.
If you’re looking for a beautiful view, then you also need to keep in mind that the view might come with an added cost. Walk-out basement lots tend to be a little more than their counterparts.
Types of Lot Locations
There are plenty of options here, so look to see which resonates with you:
- Corner lots - These lots tend to be larger in overall area, often with special high visibility requirements. They will likely require more landscaping and maintenance than other lots. Because of their location, they have more sidewalk area and therefore expose the home to more traffic as it is coming from two sides.
- Cul-de-sac lots - These lots provide for a quieter and more private lot. Their curved design results in narrow wedge-shaped frontage with the potential for a long driveway.
- Quick access lots - These lots are conveniently located near the entrance of the subdivision. They are exactly what their description states. They allow for simple movement into and out of the lot. This ease of exit and entry also leaves the lot susceptible to more traffic and noises.
- Regular lots – These lots have a basic size and location and make up the majority of lots in most neighbourhoods.
Sun Exposure
When selecting a lot, take into consideration how you would like to utilize the sun. For example, if you are looking for a luscious backyard garden, you will want it to face south. We have put together a short cheat sheet when it comes to directional elevation and sun exposure preferences:
- A south facing elevation will result in sun rays impacting the home most of the day
- A west facing elevation will provide your home with afternoon sunshine
- An east facing elevation will give your home morning sunshine to wake up to each day
Neighbouring Homes and Amenities
To choose your lot you must decide if you prefer a more closely knit community with smaller distances between homes or a lot that provides for more privacy. If you’d like the idea of more privacy, then consider avoiding purchasing a lot that is near parks, schools, and other public areas.
With so many lots to choose from, do your homework and select the one that is just right for you and your family.