Prospective buyers hoping to make a Philippines real estate purchase may be wondering what type of lot would make the best
investment. It can be rare to see a corner lot turn up on the market, so when one does, it may be tempting to leap in with both feet. But is buying a corner lot a wise choice?
If you value space, you can’t go wrong with a corner lot. Compared to other types of plot, a corner property generally offers more land and therefore a bigger outdoor area to enjoy. It’s worth bearing in mind, however, that the outdoor space may be more generous in the front of the property than at the back. Although it’s good for improving your curb appeal, it isn’t ideal for relaxing on your back lawn through the sunny months.
If you own multiple cars, there’s a good chance that you need a lot more parking space. A corner plot offers twice as much curb and therefore twice as much space to accommodate several vehicles. In some areas, however, you may find that you can’t park outside your property at all because of rules prohibiting parking on a corner. Corner properties are also less likely to be targets of crime because of the area’s high visibility. This fact may discourage burglars from trying their chances.
A corner plot is very visible. That means that you need to put a lot more work into your maintenance in order to keep its appearance presentable. The extra outdoor space would also need more landscaping and maintenance, racking up the costs higher. Noise can also be an issue when a home is at an intersection, with increased traffic flow creating excessive
vehicle noise and disturbances. The traffic issue could also raise safety concerns for families with children or pets that may run into the road.
The extra traffic, both vehicular and pedestrian, can mean considerably reduced privacy, with people congregating on the
corner outside your home and headlamps from passing cars shining through your windows at all hours of the night. In some areas, there are laws that limit the height of a fence that can surround a corner property’s lawn for safety reasons. This sometimes results in strangers taking shortcuts across your property in order to cut the corner.
There are both positives and negatives to investing in a corner property lot. In fact, real estate agents believe that corner lots are more challenging to sell to homeowners. If you are planning to purchase a home for the long term, this may not be an issue. However, bear in mind that if a quick sale is important to you, you may need to think about this decision thoroughly.