Homes on Corner Lot...Easy to sell?

Question

Before I began investing I thought people looked for corner lot homes...I recently read somewhere (I think on this site) that corner lots are hard to sell.  I am currently looking at a home on a corner lot.  Do you think this will be hard to sell quickly.  Home was built in late 90's and really only needs cosmetic repairs.  It is1500 sq ft 3/2 with garage.  Listed for 100,000 and ARV is 150,000.  What are your thoughts????? Thanks for you help!!!   :cool:

Mike McKinzie · Answer

I currently live on a corner lot and have lived 80% of my life in a house on a corner lot. So I may not be as objective as others. The upside is that you have two access points to the lot. If the buyer has big toys such as a boat, camping trailer, jet skis, etc..., being on a corner lot allows easier access to storing them 'out back.' What my parents did to there corner lot was to move the garage to the other side. The original garage faced the same way the front door faced, north. Now the garage faces east and the old garage is a masterfully done 'Family Room' with flagstone fireplace, 63" Plasma Screen TV, laundry room and play area. The lot allowed my parents to build a three car garage (2 car garage door) on the side street. Before any additions, as a kid, we played baseball in the backyard, it was so big.

Upside: Big Lot, more lot access and good visibility
Downside: Less secure, more public visibility that requires more quality landscaping and headlights hitting the house when cars turn the corner.

Upside:  Big Lot, more lot access and good visibility
Downside:  Less secure, more public visibility that requires more quality landscaping and headlights hitting the house when cars turn the corner.

Account Closed · Answer

As Mike mentioned, access is a big plus for those with RVs and boats. 
I think I'll be filling in a swimming pool within the next year, and the conveyer truck will be able to drive within "shooting" range. His chutes reach 50 feet, so he should have no trouble reaching the pool. The gravel won't have to be wheelbarrowed from the driveway to the back of the house. (about 20 tons.)

Account Closed · Answer

My -,02 (adjusted for todays market)
I now live on a corner lot. I'm in a relatively quiet subdivision, as far as traffic is concerned, and my "frontage" street is a cul de sac, rather than a through street. I'm okay with it because there is little traffic at any time. My particular lot is not big, but having street access on the side allows me the potential to do yard work that I wouldn't ordinarily easily be able to do.

Two problems a corner lot can have is exhaust fumes and vehicle noise (motor, brakes, radio, kids, etc) when cars stop to wait for traffic before continuing on, especially in the morning traffic hours.  
The same can be said if the cluster mailbox or other nuisance is on one or both sides.  Think of a four way stop sign at your corner...

Bill Gulley · Answer

Use to be, and maybe still, corner lots were marketed as a big plus, for the reasons mentioned but also as they add more privacy when the traffic dies down (especially when there really is no real traffic) as there were only neighbors on one side and to the back to get along with. Others in the block had three neighbors.

It also depends on the location. If you have driveby shootings, I wouldn't want to have to defend on two fronts.

As Mike mentioned, access is a big plus for those with RVs and boats.

Account Closed · Answer

One issue with corner lots can be the setbacks.  Instead of just one 20 ft setback you have two.  Street frontage can make a difference with fence heights and septic as well.

Andy J. · Answer

In itself, a corner lot makes little difference.  You have to look at the benefits and drawbacks of each particular lot.  Is it a busy traffic corner, does it improve views, is the lot larger than if it were not a corner lot, fencing, neighbors, layout on the lot, etc..  Some corner lots are great, some are terrible.  Some people love them, some people hate them, some people have no preference.

Jon Klaus · Answer

Bryan, a mutual friend of ours just got one under contract on a corner for a really good price and short time on market.  I think the extra visibility of that location must have helped.

Bryan Hancock · Answer

I owned a corner lot for a few years and the edging was a nightmare.  That is one downside to them.

Jon Klaus · Answer

Often the corner lots are a little bigger and can offer better (another view) curb appeal.

Matt Kearney · Answer

I have bought and sold a couple corner lot homes and never really had any complaints..... however I have heard that some people view them as less desirable.

I guess it depends on personal preference and what type of corner lot it is.... i.e. does it abut a busy street or is it a lightly traveled neighborhood, etc...

Best of Luck

Homes on Corner Lot...Easy to sell?

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