A corner lot is a plot of land at the intersection of two roads or streets. Typically, the streets run in the front and one side of the lot or property. Corner lots have a range of locations; it could sit in the middle of a neighborhood or at the top of a very busy street.
Back in the ‘90s, when developers first started building cookie-cutter McMansions, builders had a challenging time selling corner lot homes. Buyers did not appreciate the additional street exposure, less privacy, and noise, among others.
To combat the negative feedback, some developers decided to add a premium to these corner lots of $5,000 to $10,000, which drew attention, and they began to sell. Now, they are more comparable to living on a cul-de-sac in terms of popularity. A corner lot is, typically, always preferred in today’s market due to the characteristics and the many benefits these pieces of real estate offer buyers.
Here, we’ll explore the pros and cons of corner lot properties to help you make informed decisions before buying or building your next home in this type of unique zoning lot.