What Makes a Corner Lot More Expensive?

A corner lot is a parcel of land situated at the intersection of two streets. These unique properties distinguish themselves from interior lots, which are flanked by other homes on both sides. Corner lots frequently command a higher price than their mid-block counterparts. This premium often reflects a combination of factors related to their location, enhanced space, and practical considerations during development.

Unique Positional Advantages

Corner lots benefit from “dual frontage,” meaning the property has exposure to two streets, unlike standard lots. This increased visibility can make a home stand out, contributing to its overall appeal and potentially translating into higher property values. The enhanced exposure also allows more natural light to reach the home and its surrounding yard throughout the day, as fewer adjacent structures obstruct sunlight.

The dual frontage also offers superior accessibility, as the property can be approached from two different street directions. This flexibility allows for varied entry points or improved traffic flow. Having fewer direct neighbors on one side can also contribute to a sense of increased privacy from adjacent homes, even with the added street exposure. This positional advantage is a primary driver contributing to the higher cost associated with corner lots.

Expanded Usable Area and Design Opportunities

Corner lots frequently provide a different distribution of space, often resulting in larger or irregularly shaped parcels. This expanded area offers greater flexibility in architectural design and landscaping possibilities. Homeowners can explore varied home orientations to maximize natural light or views, and the dual frontage allows for multiple entry points, such as a main entrance on one street and separate garage access from the other.

This design freedom facilitates the inclusion of features like side-entry garages, enhancing a home’s curb appeal by moving the garage doors away from the primary facade. The additional space also presents more creative landscaping opportunities, allowing for larger gardens, outdoor living areas, or unique design elements that might not be feasible on a standard lot. Such enhanced design potential adds significantly to the lot’s desirability and overall value.

Practical Construction and Utility Considerations

The dual street access of corner lots can offer tangible functional advantages during the construction phase. Having access to utilities like water, sewer, electricity, and gas from two street fronts can streamline the connection process for builders. This might reduce initial complexities or offer more efficient routing options for utility lines, potentially leading to some cost savings that can be reflected in the lot’s premium. Utility easements, which grant companies the right to use parts of private property for infrastructure, are found along lot lines, and corner lots have more of these lines bordering public access.

The presence of two street frontages can aid in managing property drainage, as storm sewer systems are integrated with street infrastructure, providing more points for water runoff. Easier access for construction vehicles from multiple directions can also streamline project logistics and reduce disruptions. While these benefits might seem minor individually, they collectively contribute to the inherent value of a corner lot, influencing its higher price point.