Real Estate

Premium lot size with no house behind

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  • Apr 20th, 2016 4:45 pm
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[OP]
Newbie
Jan 8, 2016
75 posts
6 upvotes
Mississauga

Premium lot size with no house behind

Hello everyone, I recently purchased a property in Brampton, where the backyard is facing a park with no homes behind my house. From privacy perspective, it's an add on but will it add any advantage when I sell the house at a later time. My agent told me that having no house behind the backyard will be considered as premium lot .I really don't know if that was the case and hence looking for your advice.
16 replies
Deal Addict
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Dec 21, 2010
1592 posts
865 upvotes
GTA
Of course it is a premium lot. For now. Do you know (or has your agent advised) what plans the city has for any future development behind your home? Have any building permits been issued? You can source this via the City.

For now, enjoy your view!

(ps, I'm not really clear on what the question/concern is?)
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May 12, 2004
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Ottawa
Never buy a property for it's surroundings.
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[OP]
Newbie
Jan 8, 2016
75 posts
6 upvotes
Mississauga
loriblum wrote: Of course it is a premium lot. For now. Do you know (or has your agent advised) what plans the city has for any future development behind your home? Have any building permits been issued? You can source this via the City.

For now, enjoy your view!

(ps, I'm not really clear on what the question/concern is?)
There a park behind the house and i doubt there would be any further projects coming up there.my question is that if its a premium lot, whether people are ready to pay more just for having the privacy
[OP]
Newbie
Jan 8, 2016
75 posts
6 upvotes
Mississauga
Cas77 wrote: Never buy a property for it's surroundings.
Any specific reason?
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Dec 21, 2010
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GTA
I can answer that.. because the surroundings can change.

However, that isn't the most practical advice. Surroundings can change, but you should also surround yourself with an environment that you want and you love.

As for paying more, it's all relative to what others are offering. Generally, yes, it is a "premium" but pricing isn't just based on this feature alone. And that is what it is.. a feature.
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Sr. Member
Jan 31, 2016
749 posts
422 upvotes
Kawartha Lakes
Cas77 wrote: Never buy a property for it's surroundings.
Some builders use the term "Conservation" land loosely. Be sure to confirm this with the local conservation authourity.
Deal Fanatic
May 5, 2008
5666 posts
2308 upvotes
Winnipeg
Or they can build a nice high rise apt/ condo behind you which often happens
Deal Addict
Apr 2, 2007
1423 posts
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Toronto
Having a park behind your house is not considered a premium lot.
Premium lots are considered longer or wider (corner) then the other lots.

Having a park behind you, you gain some but also lose out on some privacy. Anyone can just walk up to your backyard fence and peer into your lot and you can't do anything about it as they are on public space.
Deal Addict
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Dec 21, 2010
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GTA
First off, this is some really loose "advice" you are receiving.

The term "premium" can just mean that the lot is valued higher than the others because of certain features of the land. These are not features of the house that are cause for the use of the term "premium". Is there a definitive meaning behind "premium"? If I'm not mistaken, I don't believe so. However, I am willing to admit if I'm wrong if you can find me this to be otherwise. Even a quick google search will define it as such: The typical definition of lot premium is a premium paid by the buyer for a special, unique home site that may be either larger or in a more desirable location. typically this amount is 'built in' to the price of the home.

As for builders turning a park into a high rise happening "often"? No. This is not true. There are density issues, zoning, etc.... and as mentioned earlier, your agent can find out if any permits have been issued.

And to speak of the last point, people can stand in your front sidewalk and stare at your house. Privacy issues a concern there, as well? Hardly.
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Deal Guru
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Apr 17, 2005
11038 posts
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Brampton
qster wrote: Having a park behind your house is not considered a premium lot.
Premium lots are considered longer or wider (corner) then the other lots.
I don't consider corner lots a "premium" (some might but they are usually the last to sell). They would have to pay me money to buy one lol Yes having a park behind is what I would consider a premium lot. Having no house behind is priceless IMO, I know because I have a ravine behind our house :) Yes people will pay more money backing onto a park or ravine for sure!
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Deal Addict
Apr 2, 2007
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Toronto
patrob wrote: I don't consider corner lots a "premium" (some might but they are usually the last to sell). They would have to pay me money to buy one lol Yes having a park behind is what I would consider a premium lot. Having no house behind is priceless IMO, I know because I have a ravine behind our house :) Yes people will pay more money backing onto a park or ravine for sure!
Corner lots can be at an actual corner, but also the inside corners (pie shape) of a street with a bend. You will the premium for the pie shape as you get more yard space.
Ravine lots are good, but I would disagree with a park/school as you get kids lingering and park/school noise.
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Sep 23, 2014
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Toronto, ON
Its basically premium features vs premium size. Premium features are wide ranging - ravine/greenbelt view, unobstructed view or a lot on cul de sac. Premium size lot is strictly the size of the lot.
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[OP]
Newbie
Jan 8, 2016
75 posts
6 upvotes
Mississauga
loriblum wrote: Of course it is a premium lot. For now. Do you know (or has your agent advised) what plans the city has for any future development behind your home? Have any building permits been issued? You can source this via the City.

For now, enjoy your view!

(ps, I'm not really clear on what the question/concern is?)
Behind the bvackyard, it's Road and other side of the road has a huge park.
Deal Addict
Apr 22, 2014
3097 posts
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Oshawa, ON
I are on cul-de-sac. I can haz premium?
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Nov 19, 2004
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Cambridge, ON
B2redflag wrote: Behind the bvackyard, it's Road and other side of the road has a huge park.
Having green space behind your house is definitely a selling point, assuming that the green space will not be turned into a condo at some point. A park is better than a house, but not as ideal as a ravine or something where you wouldn't have people by your yard all the time. A road on the other hand may make it less appealing, even if there is a park on the other side. Depends on how busy the road is I guess, but I wouldn't want a road behind me.
Deal Addict
Dec 28, 2002
2963 posts
300 upvotes
why bother about the selling point while you have just purchased it? is it to justify your purchase?

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