Are you confused about a suitable location for investing in a plot? Are you unsure about where to start?
Investing in a real estate property can be a tough decision to make when you are new to the market and are not up to date with real estate trends.
Finding the right location can especially be challenging as you have to weigh the risk factor and potential worth of a wide range of options available to you. It’s not just about which area makes your work commute shorter or brings you more entertainment facilities — a prime location can define the actual value of a plot or a house in the long run. For instance, corner plots are usually high in demand and relatively more expensive because of their high net value.
Graana.com discusses all the pros and cons of investing in a corner plot to provide clarity and help you make a decision.
Pros of Buying or Building a Corner Plot
These are some of the perks that you can enjoy with a corner plot or house:
Clear View of the Street
First and foremost, corner plots can provide you with a clear and unobstructed street view. In the case of other types of plots, residents usually only get to look at the front lawn of their next door neighbour from their balconies or windows. This, hence, increases the value of a corner house.
After all, what would you prefer: the view of your own yard or a beautiful park in your vicinity?
More Parking Space
One of the most popular reasons for investing in a corner plot is to enjoy the perks of more parking space. Due to the increased population in big cities, parking has become a difficult and cumbersome issue. Corner plots provide the benefit of ample parking space next to the property as well.
A hack for creating more indoor parking space is turning your lawn into a garage (after getting approval from the relevant authorities) and then securing it with a gate.
Natural Light and Better Ventilation
Corner plots are not surrounded by other properties, which results in better ventilation and more sunlight filtering through the house. Both are essential for maintaining a healthy lifestyle. Additionally, the constant airflow can help prevent bad odours, moisture and pollutants. The natural sunlight can also make your room look brighter.
Good Design Options
If you are someone who would prefer to design your house yourself, corner plots would give you more liberty to do so.
Since corner plots are not surrounded by other plots and are also usually bigger in size, it makes it easy for you to get creative with the additional space.
For example, if you wanted to construct a bigger balcony on the second floor of your house, it may become an inconvenience for other residents in the same street because it will overlook the front of the house. However, if it is built on a corner plot, you wouldn’t have to face such issues.
It is important to keep in mind that, if you are planning to buy a property in any housing society, you would have to ensure that you abide by the construction laws of that specific area before planning any such projects.
Extra Yard Space
Another reason why corner plots are higher in price than any other property is because they provide the benefit of more yard space.
Usually, corner plots have two lawns. You can grow one into a garden with outdoor furniture set up, and utilise the other as a space for your kids to play around.
These ideas will aesthetically add to your house, which will eventually result in increased resale value.
Cons of Buying or Building a Corner Plot
Now that you are aware of the benefits of investing in corner plots, let’s find out some of drawbacks of investing in such properties.
Dealing with Pedestrian Traffic
If you are planning to buy a corner plot or house, you should keep in mind that there will be a lot of foot traffic that you would have to deal with.
For example, if your house is close to a market or school, a lot of people will walk past your house to get their errands done, pick up their kids etc., which can eventually cause privacy issues for you.
In comparison to other properties, people living in corner plots have to face a lot of disturbance resulting from car horns, traffic jams etc. This gets worse if your house is near the main road or a busy intersection.
Other houses in the neighbourhood have to deal with noise pollution only to a limited extent, whereas you would be exposed to noise pollution from both sides of the property in a corner house.
More Maintenance Required
Extra space requires thorough and regular maintenance, so a lot of your effort and time would be consumed in landscaping.
Corner plots and houses have more exposure and higher visibility, thus, you would have to take extra care of the exterior as well. It would also be more costly as you would be responsible for the upkeep of a larger property.
Vulnerable to Robberies
Corner houses are more susceptible to break-ins, depending on their visibility and location.
If your house is visible from the adjacent street, or if it is constructed in a way that anyone walking outside your house can see or hear you, this can result in more risk.
There are also increased chances of light pollution — the outdoor artificial lights can be intrusive at night-time. For instance, people who live in corner houses would have to bear headlights of every passing car. Usually, street lights are installed at the corner of the street or at the intersection next to the house. Their bright and harsh light can prove to be disturbing for your sleep, and also contribute to the increase of carbon dioxide in the air.
Just like every other property, corner plots have their own set of advantages and disadvantages. Every plot has its own perks, but its value largely depends on the location.
If you want to know more details before making an investment, you can visit Graana.com and have a look at different guidelines.