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What Does the Lot Offer?

By Rick Jarvis

The house on the left maintained a thick grove of trees to act as a buffer to the railroad while the home on the right cleared the lot. This lack of buffer will negatively affect value.

The ultimate appeal of real estate is that it is unique. And while in theory it is true, in reality, many lots differ little from one another.

That said, spend some time not only in lot selection, but in understanding what the lot offers. Invest some time looking at the lot that you considering and try to find the characteristics that help make it unique. Sometimes a unique feature can be either highlighted (if good) or minimized (if bad.) And having been in this business for a long time, the number of times a lot and house are not in sync with one another is pretty stunning.

Some things to consider:

  • If it is oddly shaped and you are forced to move to one side, then you may want to use fewer windows on that rear corner.
  • If the home backs to something with a view, then find a plan that incorporates the view into the daily living experience.
  • If the home backs to a tract of land likely to be developed, don’t place the without considering what the future is likely to look like.
  • If a neighbor is closer to their side of the lot, you may want to move away to maintain separation.

Recognizing how a lot will relate to a home can really create value … and it is not always in a subdivision setting. As an example, we once represented a loft condo in a warehouse in Manchester that inverted public and private spaces so that the kitchen and great room were on the top floor and the bedrooms were all on the level below.  This was done to allow the view of the city skyline from almost all of the rooms used during the day.

The impact was dramatic.

Each home can only be built once so invest some time in really thinking through how the home, lot and other elements all relate.

 


Other Articles on New Home Values

  • Examining the Dollar Per Foot Metric
  • Beware the 'Unique and Expensive'
  • The Popular Plans
  • What Does it Cost to Build a Home?
  • Hardwood Floors
  • Aging in Place
  • HOA/POA or Civic Association? Does it Matter?
  • Builder Warranties - Mandatory or Elective?
  • Track Versus Custom Builders
  • Which Comes First? The Purchase or the Sale?
  • What Does 'Stick Built' Mean and Why Does it Matter?
  • EarthCraft Homes and Appraisals...Friends or Foes?
  • Lot Pricing in the Metro
  • Grey Oaks and Nuckols Road
  • Look at Models
  • Bad Lots
  • Investments versus Expenses

Other Articles on New Home Lots

  • Saving Trees
  • The Need for Flexible Neighborhoods
  • Lot Pricing in the Metro
  • Oak Park, the New Ginter Park
  • Mountain Run and The Federal Club
  • Bad Lots

Other Articles on New Home Design

  • The Popular Plans
  • Green is no longer 'Elective'
  • Aging in Place
  • The Dreaded Change Order
  • A Return to Authenticity
  • Look at Models

Related Posts

Filed Under: Design, Home Lots, Insider Perspective, Values Tagged With: Design, Lots, Value

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I am Kendall C. Kendall, Client Care Coordinator for the team. I am a licensed Realtor and it is my job to answer questions and schedule showings for the properties shown on our sites. Here's our call policy.

kendall@richmondvamls.net

Sarah Jarvis, Founder One South Realty

Working With Buyers

I love new homes...always have. In my 20+ years in real estate, I feel lucky to have seen nearly every aspect of the building business close up. From design and permitting to development and finance, I have been involved in every facet of the new construction process. If you are considering building a new home, don’t go it alone. Spend a moment on our blogs to understand the depth of our knowledge about Richmond's new home market.
sarah@richmondvamls.net

Some of Our Thoughts

The Popular Plans

By Rick Jarvis

“Builders have popular plans for a reason.  They can build them cheaper and the home functions better.  Ask the builder which plans they like and then ask them ‘why’?” You should always ask the builder not only what plan they like – but why they feel that way. Over time, all successful builders have found a […]

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