Is a Corner Lot Considered a Good Real Estate Purchase?

Is a corner lot considered a good real estate purchase?

1 Answer

Location, location, location... is the old creed when buying real estate. Most consider corner lots to be an ideal purchase because you have less restrictions to your view, and the lots are typically larger than those they are next to; with that said, a corner lot on a extremely busy street intersection with high traffic, may not be the right home for a family with young children, while it would make the perfect location for a commercial deli.

Generally speaking corner lots are favored by most, but again it is dependent on the lot itself. An old gas station without new tanks on a corner lot, could end up becoming a nightmare with environmental issues. Just because it's on the corner doesn't make it the right property. Make sure the real estate fits your needs, if it does and happens to be on a corner that compliments the property, adding to its allure, then you will probably be very happy with that piece of real estate. If on the other hand you find a home that's on a corner, but the corner detracts from the property, the intersection is noisy throughout the day and night, much louder than other areas on the street for example, this disadvantage (if it is in your mind, some people like traffic) may constitute enough cause to find another property.