New build: corner lot vs. backing onto greenspace?

Dec 9th, 2020 8:07 pm

#1

barmadrid [OP]: Deal Addict; Feb 4, 2015; 1340 posts; 877 upvotes

Dec 9th, 2020 8:07 pm

New build: corner lot vs. backing onto greenspace?

We are considering a new construction for a detached home and we have the option of going with either a corner lot or a lot backing onto greenspace!

The build will have same Sq. Ft. for either lots, but the corner lot (land size) is about 4 meters larger. Also, only $2k price difference (corner pricier).

This is our first home experience so we appreciate your inputs and preference!

Dec 9th, 2020 8:14 pm

#2

iGarage: Sr. Member; Jun 21, 2006; 859 posts; 501 upvotes

Dec 9th, 2020 8:14 pm

best to post a diagram of the layout as there could be so many variables

+2

Dec 9th, 2020 8:23 pm

#3

CorSter: Deal Fanatic; Mar 30, 2004; 5040 posts; 2591 upvotes; Durham Region

Dec 9th, 2020 8:23 pm

How long will that green space remain before being redeveloped?

+1

Dec 9th, 2020 9:23 pm

#4

jk9088: Deal Addict; May 23, 2017; 1358 posts; 1343 upvotes

Dec 9th, 2020 9:23 pm

I personally dislike corner lots and would love to have no rear neighbours so I would definitely go for the one backing onto greenspace. Surprised that option is not more expensive, here the lot premiums are like 50k minimum for these types of lots.

But poster above makes a good point, is the greenspace going to get developed in the future?

+1

Dec 9th, 2020 9:28 pm

#5

DealsFreak: Member; Oct 21, 2013; 305 posts; 158 upvotes; waterloo, on

Dec 9th, 2020 9:28 pm

Greenspace has a higher advantage over corner lot.

Corner lots comes with a lot of space that only adds more maintanence i.e. Grass cutting and snow removal. Some people dont like corner lots for this very reason.

Green space comes with privacy which many people prefer. So i would choose greenspace over corner. Resale is also higher.

But make sure this is a permanent greenspace and not a futire residential kind of thing.

Serving Kitchener/Waterloo/Guelph/London/Hamilton/Niagara and surrounding areas

+2

Dec 9th, 2020 9:41 pm

#6

Karma2000: Sr. Member; Dec 28, 2010; 919 posts; 412 upvotes; Toronto

Dec 9th, 2020 9:41 pm

Lot backing to greenspace or ravine.

Dec 9th, 2020 10:50 pm

#7

Alpine84: Deal Addict; Dec 5, 2009; 2563 posts; 2984 upvotes

Dec 9th, 2020 10:50 pm

Depends on the greenspace... what type of greenspace is it? Whats growing in it? Greenspaces can come with lots of creepy crawlers. Is there potential for redevelopment?

Dec 9th, 2020 10:56 pm

#8

oasis100: Deal Fanatic; Mar 27, 2004; 9569 posts; 7845 upvotes; Toronto

Dec 9th, 2020 10:56 pm

avoid corner.

Full-time Realtor

+5

Dec 9th, 2020 10:58 pm

#9

Angel Girl: Deal Addict; May 10, 2008; 1850 posts; 1972 upvotes; Vancouver, BC

Dec 9th, 2020 10:58 pm

Where is this located? I would still choose corner lot vs green space for the extra parking spaces. In Vancouver, every other house has at least one rental unit so people are always fighting over street parking. It might be different in the boonies where the lots are big.

Dec 10th, 2020 12:45 am

#10

nabiul: Deal Addict; Aug 28, 2014; 2612 posts; 764 upvotes; Toronto, ON

Dec 10th, 2020 12:45 am

Definitely lot backing onto green space, a corner lot is not a positive. All the corners here in the suburbs go to shit because it's too much weeds to pull out, especially with the ontario pesticide ban. Also the 50-60 extra feet of sidewalk that you're legally responsible for shoveling and salting every winter. Could be lots more traffic if there's an intersection and an extra side of the house exposed with the maintenance that goes with it.

+1

Dec 10th, 2020 8:55 am

#11

jillaryit: Deal Addict; Jan 29, 2010; 2076 posts; 3349 upvotes; Toronto

Dec 10th, 2020 8:55 am

I have a corner and I like the extra sunshine from the side, it was the main reason me and my wife liked the house so much in the first place. I like the one less neighbour thing too. My 2 current neighbours are both nice so I don’t mind them but would prefer 1 less any day of the week regardless.

My corner is in a quiet street that doesn’t connect to other streets so only people living in the street comes through. Also I don’t have sidewalks so no maintenance on that front. There is extra lawn mowing but we are not perfectionists, so I mow it at a minimal rate and don’t care too much for the lawn and it’s not too bad/take too long (my trees, especially the one that grows in all directions, and bushes need more maintenance than the lawn IMO. You tend to get more trees and bushes with the extra corner lot space which is good and bad). Dogs do tend to like going through the corner lots so I had a dog poo problem at one time but I think the owners are more mindful in picking up after them now.

In conclusion, there are pros and cons. But I think the extra sunlight will always make reselling easier (for a quiet street and no sidewalks at least) . There is like double the sunlight coming in than other houses nearby.

Dec 10th, 2020 9:02 am

#12

lolbeast: Deal Addict; Apr 29, 2010; 1601 posts; 3283 upvotes; GTA

Dec 10th, 2020 9:02 am

Green space in back > extra front yard/sidewalk and one more side of windows

Dec 10th, 2020 11:31 am

#13

barmadrid [OP]: Deal Addict; Feb 4, 2015; 1340 posts; 877 upvotes

Dec 10th, 2020 11:31 am

For the back greenspace, the builder informed us that it's governed by Environment Canada and cannot be developed.

+1

Dec 10th, 2020 11:40 am

#14

NomNomNom: Jr. Member; Aug 25, 2010; 140 posts; 151 upvotes

Dec 10th, 2020 11:40 am

Greenspace gets my vote for sure.

Dec 10th, 2020 11:51 am

#15

Anikiri: Deal Guru; May 1, 2012; 10516 posts; 11349 upvotes; Toronto

Dec 10th, 2020 11:51 am

Greenspace, this isn't even comparable. Like comparing a shiny jewel encrused gold bar to real dog turd

+1

Dec 10th, 2020 12:20 pm

#16

MikeMOON2: Member; Nov 1, 2020; 385 posts; 200 upvotes

Dec 10th, 2020 12:20 pm

haha, i just purchased a corner lot precon. but that's because there is 80k cheaper in premiums comparing to the "back to park" lot. If everything else being equal in your case, i will go with green space too.

but i do want to point out that corner lot (quiet street perferablly ) is much more valuable than it was given the space between new buildings are soooo little.

+3

Dec 12th, 2020 6:50 pm

#17

fkungery: Member; Mar 26, 2012; 461 posts; 362 upvotes

Dec 12th, 2020 6:50 pm

In general, backing onto greenspace trumps a corner lot. Most corner lots have the following disadvantages:
- it is noisy with people walking by if there are pedestrian walkways
- peoplel might walk across your front lawn
- there is a side lawn u need to mow, that u generally dont see or use
- there may be a neighborhood mail box on your side lawn
- annoying car lights shine into your front living room in the evenings

Dec 12th, 2020 9:38 pm

#18

RaC1550: Member; Nov 12, 2019; 345 posts; 551 upvotes

Dec 12th, 2020 9:38 pm

MikeMOON2 wrote: ↑ haha, i just purchased a corner lot precon. but that's because there is 80k cheaper in premiums comparing to the "back to park" lot. If everything else being equal in your case, i will go with green space too.

but i do want to point out that corner lot (quiet street perferablly ) is much more valuable than it was given the space between new buildings are soooo little.

Did you pay a premium for the corner lot? If so, how much was it?

Dec 12th, 2020 9:46 pm

#19

MikeMOON2: Member; Nov 1, 2020; 385 posts; 200 upvotes

Dec 12th, 2020 9:46 pm

RaC1550 wrote: ↑ Did you pay a premium for the corner lot? If so, how much was it?

you will be surprised... corner premium for quality builders now are 20k-30k which was just around 5k years ago.

they explained similar reason i mentioned above relatively more valuable for squeezed space in nowadays market. mine is on a quite street tho, but seems like those on the four way corner next to major street are charged the same.

+1

Dec 12th, 2020 9:54 pm

#20

RaC1550: Member; Nov 12, 2019; 345 posts; 551 upvotes

Dec 12th, 2020 9:54 pm

MikeMOON2 wrote: ↑ you will be surprised... corner premium for quality builders now are 20k-30k which was just around 5k years ago.

they explained similar reason i mentioned above relatively more valuable for squeezed space in nowadays market. mine is on a quite street tho, but seems like those on the four way corner next to major street are charged the same.

I think that makes sense actually. Ultimately the price is determined by supply and demand. Even though a lot of people don't like corner lots due to some aforementioned factors (like those who commented here), but corner lots have other advantages like those that you stated and there are also much fewer corner lots available per street than non-corner lots. So, the ratio of people preferring corner lots (somewhat less) and the number of corner lots available (much less) will result in a price premium.

New build: corner lot vs. backing onto greenspace?

New build: corner lot vs. backing onto greenspace?

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