What sorts of things are important when selecting your lot? It all comes down to 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, then your home will quickly appreciate in value! But then also assess if this rapid growth will impact the neighbourhood in the short term and if this will effect 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 factor into your decision 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? This matters even if you don’t have children! A good school system can increase the value of your home when you choose 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 should be a high priority – after all, commuting time has actually been linked directly to overall well-being! And who wants to spend more time in the car then they have to?
Research Nearby Future Development.
Any undeveloped land nearby has the potential to be utilized in a variety of ways. This can be a good thing or a bad thing for the value of your home and your comfort. Take the time to find out if future developments will have an impact on the value of your home, and if so, in what ways.
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 has to 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. And remember, walk-out basement lots tend to be a little more than their counterparts.
Types of Lot Locations
There are plenty of options here, so take a look and see which resonates with you:
- Corner lots. - these lots tend to be larger in overall area, often with high visibility. They will likely require more landscaping and maintenance than other lots. Because of their location, they have more sidewalk area and are 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 than others. However, their curved design results in narrow, wedge-shaped front lots and potentially long driveways.
- Quick access lots - these lots are conveniently located near the entrance of the subdivision. They are exactly what they advertise; allowing for simple movement into and out of the lot. However, this ease of exit and entry also leaves the lot susceptible to more traffic and noises.
- Regular lots - enough said.
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 have to 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 in close proximity to parks, schools, and other public areas.
Basically, what we're saying here is you have choices to consider. Happy selecting!