Buying A New Construction Home subdivision In Toronto; how do I choose the best subdivision lot in Toronto? PART 5
Many lots to choose from; how do I choose the best subdivision lot? It is nice to have the option, especially when selecting your lot in the subdivision. I believe this is one of the most important decisions you need to make. Not an easy decision either to make.
You need to understand the different types of lots, and you need to know what you want from it.
You'll soon discover that builders have premium lots that are offered for more money. I guess this would be one way to identify the better lots in the subdivision. But that does not necessarily mean it is for you. The premium lots usually back onto a green space or pond.
Premium location. There is no doubt in anyone's mind that location is the most vital aspect of any property. Those favourable lots will always be in demand. Higher demand translates for more appreciation and resale price. If you can get our hands on a premium lot, by all means, go for it. A word of caution, make sure the premium lots are not overpriced and doing so, you'll still be within your budget.
Near entrance. The lots near the subdivision entrance are hardly premium lots; however, these lots have the benefit of being closer to the main road and possibly to public transportation like bus routes. You should expect more traffic and noise near the subdivision entrance.
Dead-end (impasse) lots. There are different shapes of lots. It can be narrow and extended with a smaller front. A wider size front is almost always preferable. If you have a pie-shaped lot, you will have minimal frontage, therefore a big back yard. Pie-shaped lots are objective; I had clients who loved the large backyard and cared little for a smaller driveway. Having a larger backyard can provide a playground for children and space for gardening. Conversely, if you have a reverse-pie lot, you will have a large frontage and likely a small backyard. Homes on cul-de-sacs (dead-end) will have the minimum traffic in the subdivision; hence they are desirable for families with children.
Corner Lots. Corner lots are somewhat controversial since it seems some people dislike and others do like them. Some of the drawbacks are as follows. You get traffic on both sides since corner lots are at the intersection. In winter, you also get plowed snow, slush from both sides of the house; and you have two sidewalks to clear. Traffic also has to slow down or stop at the intersection, which may contribute to traffic noise. All that said, on a positive note, corner lots typically have a side-entry garage - resulting in a better street appeal. The corner house will have street visibility on both sides. Hence two sides of the house are finished for street view.
Subdivision lot characterization. So far, we have looked into lot locations within the subdivision; however, lot characterization is also essential for a quality house and future resale value. The lots' slope and exposure are the two characteristics that we discuss next.
The sloped lots. This article looks at a moderate slope of 10 - 15%, common in the Toronto area's subdivisions. There are steeper sloped properties; however, that is beyond the scope of this article. The most significant benefit of a sloped property is the option of a walkout basement. If walking into a basement gives you the feeling of a modern dungeon, you'll discover a walkout basement is a delight. You'll enjoy a daylight-lit basement and a deck, patio or pathway to the outdoors. Water accumulation is the main cause of foundation problems. The sloped lots with a well-designed landscape can drain off the water away from the house.
The exposure. In Real estate, the direction the front of your home is facing (south-facing, north-facing, etc.) is referred to as the house exposure. Some homebuyers, particularly new homebuyers, do not pay attention to the exposure direction. It is hard to blame them; they have many other concerns. The expert in the industry all agree that it is a crucial factor to consider.
In Toronto, we have cold and long winters; It makes sense to take advantage of the sun and daylight as much as well can. The question is, what works for you? If you have a south-facing home, you get to enjoy the sun for most of the day - mostly at the front of the house. However, the backyard patio, under the shade of the house, will have the least. The south-facing homes perhaps are a better option for the Canadian climate. Being in the real estate business for many years in Willowdale and Toronto area, I noticed south-facing exposure has more demands among my clients.
If you are a morning person and love the morning sun, an east-facing home may be a better option. On the contrary, if you like the evening daylight while sitting on the patio, the west-facing home will be more suitable.
Go to PART 6
Buying A New Construction Home subdivision In Toronto; What Are The Best Floor Plan And Upgrade Options In Subdivision? PART 6
The above Real Estate article was provided by David Khosravi, a leader in his field in North York, Willowdale Real Estate, Reach out to David via email: firstname.lastname@example.org or by phone: 416.990.2424