A corner lot is a piece of land bordered by two streets. It offers unique advantages and challenges compared to properties located within a block.
Exploring the advantages and disadvantages of corner lots, as well as the considerations that need to be taken into account, can help individuals when it comes to buying or investing in this type of property.
Corner Lot vs End Lot
Buyers sometimes confuse a corner lot with an end lot, but they are actually different types of lots. From the word itself, an “end” lot is located at the very end of the street, also known as “cul de sac” lot. This type of lot offers more privacy and peace since it is not subject to public traffic. It may also require higher price tag and less security as it typically has only one adjacent neighbor property.
In townhouse projects, the term “end lot” is also used to refer to a property that is located at the end of a row of properties. Additionally, end lot units are more expensive than inner lot units since it offers more space and more air and natural light ways.
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Meanwhile, a corner lot is situated at the intersection of two streets. Although it offers easy accessibility, it has more traffic flow and requires higher security due to its two-street exposure. Nevertheless, corner lots are more desirable since they offer a lot of space from the sideyard and backyard.
Why you should get a corner lot
One of the main advantages of (commercial) corner lots is the increased visibility and exposure they offer. Being located at the intersection of two streets, corner lots have more frontage, making them more noticeable to passersby.
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In addition, corner lots have the potential for higher property values. Due to their prime location and increased visibility, they are often considered more desirable and can command a premium price. Likewise, corner lots provide greater flexibility in building design.
With two street frontages, there are more possibilities for the placement and orientation of the building. This means that individuals can maximize space and design their properties in a way that suits their specific needs and preferences.
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Corner lots tend to have more natural light and better ventilation as well. With windows and openings facing two directions, there is a greater opportunity for sunlight to enter the property, creating a brighter and more airy atmosphere.
Furthermore, corner lots offer the potential for additional parking spaces. With two street frontages, there may be more room for vehicles to park. Consequently, this reduces congestion and provides convenience for residents or customers.
Why a corner lot may not be for you
While corner lots offer many advantages, there are also some disadvantages that individuals should consider before purchasing, especially if you’re buying for residential purpose.
One of the main cons of corner lots is the increased noise and disturbance from two adjacent streets. Because of the two street frontages, there tends to be more traffic and activity, which can lead to higher noise levels and disturbance.
Another potential disadvantage of corner lots is the higher risk of accidents. With two streets bordering the property, there is a greater chance of vehicular accidents. Unfortunately, this can reduce the safety and security of residents or businesses located on corner lots.
Moreover, corner lots present challenges in terms of privacy and security. With two facades, there are more entry and exit points, making it more difficult to monitor and secure the property. This can be a particular issue for those who value privacy or require a high level of security.
Similarly, maintenance can be a challenge with corner lots due to the two facades. These properties may require more upkeep and maintenance than properties with only one façade.
Considerations for corner lots
- Location and traffic patterns – Evaluate the location and traffic patterns surrounding the corner lot, as this can affect accessibility and potential noise levels.
- Zoning regulations and restrictions – Research the zoning regulations and restrictions for the corner lot to ensure it aligns with your intended use or development plans.
- Orientation and layout of the lot – Consider the orientation and layout of the corner lot to determine how well it can accommodate your desired building design and landscaping.
- Impact on future resale value – Examine the potential impact on the future resale value of the corner lot. Additionally, take into account factors such as market trends and demand for corner lots in the area.
- Financial implications and costs – Consider the financial implications and costs associated with corner lots, which may include higher purchase prices, maintenance expenses, and potential renovation or improvement costs.
For potential buyers or investors in Cambodia, it is recommended to connect with Cambodian real estate property experts who are knowledgeable in land zoning, locations, and purchase transactions.
If you’re interested in buying corner lands for sale in Cambodia, we can provide expert guidance and assistance, including evaluating and finding suitable corner lots that meet your specific requirements and align with your investment goals. Contact us to get started!
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