Buying a lot for sale involves a very thorough decision-making process. Out of the thousands of available lots of different shapes and sizes located around the country, picking what is ideal for you, whether for your future home or as an investment, can be so daunting at first. By knowing what are the important driving factors of a lot for sale, one can be more certain when choosing among the vast available options of lots. To help streamline your decision-making process, here are two crucial items you need to look out for in a lot for sale.

The Shape of the Lot

One of the crucial things to look out for when scouting for a lot for sale is its shape. Unlike other forms of real estate such as condo units and single-family homes, lots are the barest and there is not much customizing upgrading, or re-modeling to be done to make them more appealing to potential buyers like you. Because of this, its physical properties and disposition mean a lot and one of those to look out for is its shape. This will help dictate the most you can work with when building a house (or a building) and will also affect the value of the property. The same applies when in time you decide to sell your lot and the future house that will stand there as different buyers will have different needs and wants, therefore about a certain lot shape over the other.

There are five different types of lot shapes. They help determine the usefulness of the lot when it comes to constructing the building such as the yard size, frontage, parking space, and livable space. Each type of lot shape has its benefits and drawbacks.

The most common lot shapes are rectangular lots. They are easier to measure and the boundaries of your property are easier to maintain. It is also much simpler to restrict as the costs of setting up a fence are cheaper. Its shape allows the most usable space when developed, and the lot itself is easy to manage. Distributing space between the front and back during the home construction is more flexible as well. Due to its straight four-corner measurement, it is the most efficient when it comes to space for urban development. They also maintain overall value better than irregularly shaped lots, just like their cousin, the square-shaped lot.

Similar to the rectangular-shaped lots are the square lots. The only thing that distinguishes these lots from the former is the length of their four sides. The boundaries of the front yard, side yards, and back yard are all equal in measurement. They share the same characteristics as a rectangular-shaped lot such as property lines that are easy to measure and maintain, lesser costing restrictions like fencing, more flexible distribution of space between frontage and back during construction, easier to manage, and fewer struggles when constructing a new house on it. It also maintains its overall value better compared to irregularly shaped lots however square lots tend to be smaller compared to rectangular lots.

On the other hand, triangular-shaped lots commonly known as pie-shaped properties are usually seen in communities or villages with cul-de-sacs or dead ends that are implemented to keep traffic away from neighborhoods. True to its name, pie-shaped properties begin with small openings and become more spacious as you go deeper into the lot. The odd angle in the lots causes a smaller frontage which may cause parking issues for some but make way for a bigger spaced backyard that is behind the property which can be used for swimming pools, barbeque areas, outdoor family rooms, or a tool shade. The boundaries of the property are also easy to maintain just like the two aforementioned shapes. The only downside about these kinds of lots is that they are relatively more challenging to develop due to the space being unevenly distributed.

There is also a less common version where in these triangular-shaped lots are sold in reverse. This is called the reverse pie which, true to its name, is the opposite of a pie-shaped property. These lot cuts have a narrower, and sometimes pointy end as the backyard and a bigger space for a frontage. Because of this, lot owners have bigger parking and entrance space and a smaller allocation for a backyard. Because of its shape, restricting and maintaining property lines are easier and its large opening gives it more visual attractiveness when viewed from outside but gives homeowners less privacy. Owners may have a slightly more challenging time maintaining its overall value when selling it in the future because most buyers would want a bigger or even-sized backyard.

Lastly, there are irregularly shaped lots. They don’t have any geometrical resemblance to a shape, this makes it more difficult to maintain property lines and restrict them by fencing as it may cost more, given its unusual figure. They are usually cheaper when it comes to price per square meter, and provide more creative space when designing a house as the odd spaces can be used for pools, playgrounds, and garden areas. These lots are best for end buyers, as reselling them may be challenging as geometrically shaped lots are generally more popular among lot buyers.

Location of the Lot

As mentioned earlier, there is not much to customize when it comes to bare lots. This means, there are very few factors that determine its success and failure when it comes to buying one. Aside from the shape of the lot, which determines what you can do within your space, another important factor is the location of your lot. You may remodel or change whatever is constructed on your lot, but you can’t change where it is situated. This makes location one of the single most crucial driving forces behind your property’s value.

There are factors of a good location. Among these is its proximity to a community, the development around the neighborhood, and the nearby amenities. To ensure you get a favorable lot location, look for a neighborhood with nearby establishments that will provide convenience to you as a homeowner such as grocery stores, laundromats, and water stations. Another thing to consider is how accessible it is. Consider the closeness to highways, public transportation, and accessibility to key locations such as schools, business districts, and other neighboring cities. Lastly, look out for neighborhoods with promising development, such as the development of retail strips, more nearby housing construction, and urbanization in the neighborhood. These things are more favorable when it comes to determining the value of your lot.

Keep in mind that, unlike most factors that are subjective to each buyer, location is fairly based on a set of factors. It is important to look out for these factors rather than only making sure that it looks desirable. Doing this right ensures not only that you will have a good home in the future, but it will safely keep your lot as an investment as its value will appreciate over time.

With these two driving factors in looking out for a crucial lot for sale, it will be easier to determine your next big purchase. If you are looking for a lot for sale with great spacious cuts and a very promising location in the southern part of Luzon, Greenfield Development Corporation has got you covered with its three residential properties offering prestigious bare lots. The properties, namely Trava, Pramana Residential Park, and Solen Residences, offer lot-seekers a distinct experience as they are surrounded by an innovative community with sprawling greenery, giving its future homeowners a good investment, but a truly unique experience. To learn more about these properties, click on the link below: