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Property value

Posted by danihoney (My Page) on
Wed, Feb 11, 09 at 15:57

Does it hurt - help- or - make no difference if your home is;

1 - Across the street from a community park or
an elementary school?

2 - On the corner

3 - Between two two story homes

4 - At the back of a court (with very little street parking)

I just want to make the right choice, and the more I think about it the more questions I have. Help!


Follow-Up Postings:

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RE: Property value

1 a community park depends on the park - help
1 b elementary school - hurt

2 on the corner - hurt

3 Between two two story homes - make no difference

4 At the back of a court (with very little street parking) - hurt


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RE: Property value

A house is worth whatever someone will pay for it. You will find many that won't want to buy across from a school, some that won't want to buy across from a park. Will it impact the actual cash value? In some instances, but not in all. If the traffic patterns or noise levels are such that it will impact your quality of life or a buyer's quality of life, then yes it will impact the cash value.

Some also won't buy a house on a corner lot. Again, it depends on the circumstances of that corner lot. If it's on a busy corner, then you certainly would have a more difficult time selling when you get ready. If it's on a corner in a sub division, then you may get some that wouldn't buy a corner lot, but the value would be less impacted.

If you're talking about a single story between 2 two story homes, then I personally don't see where value would be negatively impacted, but maybe others have a differing opinion.

Back of a court confuses me a bit, don't know what you mean. And very little street parking may be something that has a regional significance to it. But in general if those are highly desirable in your area and you don't have them, then yes it will impact the home value.


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RE: Property value

In "back of a court" I just meant the deepest house on the court. For a family I would think it would be the safest, most desirable lot, but because those are typically pie shaped lots the front yard and street frontage is generally limited. I don't know if that would be a negative. The house between the two two story homes is also a two story. I wonder if it is just personal preference or if there is also (besides the obvious) a negative to having bedrooms looking in to bedrooms.

Thank you for your input. I tend to do a LOT of homework.


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RE: Property value

If the house was across the street from a park or school that had a sporting field with huge, bright lights for nighttime events, no way would I want that house. So I say it depends. Around my area now, daytime parking is awful around schools.

I would love a house on a corner because I like to garden and would want the extra land. However, a house on a corner also means more snow to shovel in the winter in my area. It also means more traffic, more noise and headlights shining into my windows (according to my neighbors on the corner). So, again, it depends on the streets and volume of traffic.

If my house was also 2 story, I would be glad to be between 2 other 2 stories - means I'm not the biggest/most expensive house on the block. If I was 1 story or 3 story, 2 stories on either side wouldn't matter one way or another.

By court, do you mean cul de sac? I'd never live in a subdivision on a cul de sac in any case. Cul de sac streets have to connect to other streets so if I was having a huge bash, I'd direct my guests to whereever was appropriate.


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RE: Property value

Yep, court = cul de sac :o)

We have a decreasing list of homes we are looking at. One is a new build (beautiful) 4/3 on the street across from a park. It is a 2-story between two other 2-stories but with pretty good sized side yards. The park is less than two years old so the trees aren't very big yet, but I think it will one day be a very nice little park. This house is on the through street which only seems busy in the evenings when people are coming home from work. It is on the opposite side from the picnic/BBQ area but close to the basket ball court. No field lights, just street lights. This is a small town that pretty much rolls up the sidewalks when the sun goes down. I think my main concern is the basket ball court and how I will feel having the big houses just over my fence. The fish bowl effect.

The second house is also on a through street, it is also a 2-story between two others but it doesn't feel as closed in. Diagonal to this house will be an elementary school. It isn't built yet and I think the front of the school will be at the opposite end. It is within walking distance of another smaller park. This is a short-sale home.

House 3 is a in the rear of a Cul de sac with a massive lot that is ALL in the back of the house. There is almost no front yard. It is a really nice home but is almost all driveway in front.

The corner house isn't available. I grew up in a corner house. It had more yard than any one and less neighbors. I loved it. Now people drive around that corner so fast I'm not comfortable having my kids sleep in that side bedroom. (My mom is still there.)

We are in California and don't have to shovel snow.

Thanks again for your input. I love to read different perspectives.


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RE: Property value

1 - Across the street from a community park or
an elementary school?

Depends. I liked a house we saw where the backyard was across the street from an elementary school. DH didn't like it so we nixed it. He felt there would be too much traffic - he's right because despite having bus service, everyone seems to drive their kid to school.

2 - On the corner
We never considered a house on a corner - I guess it never appealed to us.

3 - Between two two story homes
If it's also a two-story house, I'm not sure what the problem is. Currently, we live in a ranch (one-story) and the house on our left is two-story while the house on the right is single-story. It's fine. I think the issue is more the distance between houses as well as siting (does one look into the other?). If the houses are too close, it may result in lack of privacy or unwanted noise.

4 - At the back of a court (with very little street parking)
We live at the end of a very short cul-de-sac (about 10 houses at most) and it's very nice and quiet. My kids can ride their bikes or roller skate/blade in the little circle in front of our house without worry.

FWIW, we actually like having almost no yard/property. We're not very good at all the yard work - namely mowing the lawn so the less lawn we have the better. For green space, we go to the park (hmmm...so living within walking distance of a community park is a good thing but maybe not next door or across the street).


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RE: Property value

I guess I differ from most here in that I find a corner lot appealing (assuming it is not a heavily trafficed area). You have a ton of more yard and you only have a neighbor on one side to deal with. In a neighborhood, I tend to see the houses not on corners as being boxed in or trapped in a way.


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RE: Property value

Does it hurt - help- or - make no difference if your home is;

1 - Across the street from a community park or
an elementary school?

Hurt, unless park is a quiet haven.

2 - On the corner

Depends upon the corner and the market. Push/Pull

3 - Between two two story homes

Assuming you mean a single story between a couple of two story homes, it won't help and may hurt if the lots are narrow.

4 - At the back of a court (with very little street parking)

Some people hate these because a lot of people who live in a court put up basketball goals. Think kids and noise.


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RE: Property value

Im reading this question alittle different than most I guess. I was assuming you were talking about "value". The value of the home, (its market price) wouldnt be affected by any of these things. If you are talking about a cul de sac, usually those homes gain a little bit in market value. While none of these things would make the house worth "less", it might make the house desirable to a smaller market. Some people don't like corner lots, some do, they are not for everyone. Same with a park. Its not something everyone would look for, some will like it, some won't. It could limit your market pool of buyers, but not the value of your home, if that makes sense.


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RE: Property value

Linda - it does, thank you. It's silly to be thinking about re-sale value before I've purchased, right? I tend to over analyze, but I want to make a smart purchase not just an emotional one.

I meant both really, value and desirability.


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RE: Property value

It's silly to be thinking about re-sale value before I've purchased, right?

Absolutely not, I always point out problem areas to my buyers if I see something that might hurt resale value. I also look at homes in that same way that I am purchasing for myself. For years, I've always kept things neutral thinking, "resale value". FINALLY, in this house, I am able to enjoy what I want. When and if it becomes time to sell, paint it easy to change. But i did consider everything else I can't change for resale value :)


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RE: Property value

I guess I differ from most here in that I find a corner lot appealing (assuming it is not a heavily trafficed area). You have a ton of more yard and you only have a neighbor on one side to deal with. In a neighborhood, I tend to see the houses not on corners as being boxed in or trapped in a way.
========

I don't understand. How does a lot on a corner have "a ton more yard" than the same size lot with neighbors on each side? Anyway, I don't like corner lots because there is less privacy. You sort of have two "front" yards.

As for the rest:

1 - Across the street from a community park or an elementary school?
. Drop-off and pick-up time can be a zoo at elementary schools, and cars park all along the neighboring streets. I wouldn't mind a community park down the street, but not right across.

3 - Between two two story homes
. I don't see the problem unless the houses are 10 feet apart.

4 - At the back of a court (with very little street.
. I love cul-de-sacs, and they are usually more highly valued than the same house/lot on a main street.


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RE: Property value

I didn't see it mentioned here, a negative about the corner lot.

I see you live in California and don't have to shovel snow. But if taxes are going to be assessed for a new street project they assess it according to how much footage you have on the street. Can wind up costing you twice as much as your neighors.

Across from a park: my In laws have this. We hate it. There are Little League seasons, football seasons, festivals etc. that make parking impossible. There is no parking on the side of the street that the park is on. The side of the street where my In-Laws live have very limited parking and besides their own small driveway it can be difficult to find a parking spot.


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RE: Property value

Personally, the biggest drawback to the houses you're considering aren't even mentioned in your original post: the fact that they are on through streets.

Depending on how many other streets connect to it, a house on a through street (even a residential through street) is pretty much a deal-breaker for me.

I'd like living near the park, or at the end of a cul-de-sac. I can see why some people would like being near an elementary school (nice if your kids attend that school) or on a corner lot, although those aren't things that appeal to me.


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RE: Property value

Well here is how it's going. First thank you for all of your input, I have really taken it all in to consideration.

My original post was brought on because we were seriously considering purchasing a new home (still under construction) that is across the street from a large, but not that busy (yet), park. The other was an overpriced, soon to be REO, home adjacent to a future elementary school. The home in the cul-de-sac sold right away.
It was looking more and more like the new home was it, but I was having a really hard time getting excited about the home itself and the price. It was beautiful but we would still need to spend so much to make it what we really want.

Saturday a foreclosure hit the market that is the exact size inside as the new one with the same size lot. And it already has the things we would need to add to the new home plus one more bedroom. The only thing is it's 20 years old and needs a lot of cosmetic work, appliances, and a few repairs (that we can see on our own-we haven't had our inspection yet). It is also $100k LESS than the new home.

We put our offer in this morning-I'm excited and nervous, maybe questioning our sanity just a little too.

Oh - It is in a nicer, well established neighborhood. It sits deep in the inside turn of a quiet street, so it has a cul-de-sac feel to it. Darn near perfect. A diamond in the ruff. I hope it works out for us!!!

Thank you all again for your input!


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