Backyards Rule!

Single-family home

Image via Wikipedia

Which becomes more valuable the house or the lot? It is the lot.  The location of the lot is key to its desirability.  If it is a single family home then the backyard is critical.  What is the view?  What is the privacy?  Is it a 3BD/2Ba home on a lot?  What are some of the distinquishing features? 

Keep in mind that a corner lot may have required that the was situated to the rear of the parcel by the builder leaving a short backyard.  What are some other compensating factors?  Does it face a busy road?  Sometimes interior lots offer the best view or utilization of lot space. 

When purchasing a home keep in mind that every day the house is aging. Requiring maintenance and possibly some of its feature are becoming obsolete.  Some investors seek homes built in the 40s or 70s.   Each decade produced different building codes, consumer demands and features.  For example, homes built in the 70s and earlier may have only one bathroom.  On the otherhand, these older homes may offer the most ideal locations as compared to those built most recently.  It is a trade off. 


~ by Lynn Brock on November 8, 2010.

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