A number of factors influence the price of a home. These factors can include the property's condition and location, as well as current market conditions and interest rates. But the land on which the property sits can also influence its value. Although some people believe that a buyer will pay more for a larger piece of land, a lot's size is not always as important as its usefulness.
A home that is situated on a flat lot may sell for more than the same home if it were on a large, steep piece of property. Homebuyers typically prefer homes that offer level areas that will provide a place for children and pets to play, as well as a place to plant a garden. If a sloping lot has positive attributes, however, such as a striking view or a secluded setting, it could sell for a higher price than the same home on a flat lot.
In determining a lot's value, it's important to look at the character and size of typical lots in the area. Where flat lots are common, the ones that will generally command the highest prices are those with the largest, usable yards. Homes on lots smaller than the typical lot in the area will usually sell for less.
Of course, it will ultimately be the wants and needs of prospective buyers that will dictate the importance of the lot size. Busy professionals may prefer small, low-maintenance yards while buyers with small children typically want good-sized, level yards that are easily accessible from the house.
If you are ready to begin shopping for a new home - or land on which to build a home - call me. I'm here to help with all of your real estate needs!
If I can help you with any additional information regarding this article, or with any of your home buying or selling needs or if you know someone who would like some assistance, please feel free to visit my website to learn more about me www.AdrienneFrancis.com or text or call me at (201) 259-4449 .
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