Lot Shape and Positioning and Why They Matter In Real Estate

In real estate, lot shape and position are very important to consider. When buying a house or a lot, the value of the property will largely depend on these two factors.

The same also applies when selling your lot or house, the appraisal will be affected by these two factors as different buyers will have varying needs and wants, therefore preferring a certain shape or position over the other.

Types of Lot Shapes

There are 5 main lot shapes. These include:

Rectangle

This shape is the most popular in cities like Edmonton.

 

Benefits of  Rectangular Lot

• Rectangular lots are easy to measure, thus making it easier to maintain property lines.
• They provide more usable space for house owners.
• Easier to maintain.
• Fencing is easier and less costly.
• Easier to distribute space between the frontage and backyard during home construction.
• Maintains overall value better than irregularly shaped lots.

Square

Square lots are similar to rectangular lots, the only difference being that the boundaries of the side yards, front yards and backyards are equal in length.

Benefits of Square Shaped Lots

• Easy to measure and maintain property lines.
• Easier to maintain.
• Fencing is easier and less costly.
• Easier to distribute space between the frontage and backyard during home construction.
• Easier to build on when constructing a new house.
• Maintains overall value better than irregularly shaped lots.

Cons

• Square lots tend to be smaller. 

Pie-Shaped Lots

Pie-shaped lots are increasingly common, with many communities implementing several cul-de-sacs to keep unnecessary traffic away from the neighbourhoods. Pie-shaped lots usually fall into the same category as triangular-shaped lots.

Benefits Pie-Shaped Lots

• Owners get to enjoy a spacious backyard.
• The property lines are relatively easier to maintain.
• Relatively easier to erect a fence.
• The odd angles in the lot provide opportunities for pools, barbeque areas, recreational areas, tool shade, etc.

Cons

• Smaller frontage with little to no parking space.
• Relatively difficult to develop due to the uneven distribution in space.

Reverse Pie-Shaped Lots

A reverse pie shape is the opposite of a pie shape. This means the pointy or narrower end is the backyard while the bigger end is the frontage. The result is a bigger front yard and a smaller backyard.

Benefits of Reverse Pie-Shaped Lots

• Large front yard with lots of parking space.
• Good curb appeal due to the large front yard.
• Property lines are relatively easier to maintain.

Cons

• Smaller backyard.
• Hard to maintain overall value as most buyers want a bigger backyard.
• Less privacy due to the big frontage.
• Quite difficult to develop due to the uneven distribution in space.

Irregularly Shaped Lots

Irregularly shaped lots refer to lots that are neither square, triangular or rectangular. However, in real estate, this term often excludes pie-shaped lots, as they are considered in the same category as triangular lots.

Benefits of Irregularly Shaped Lots

• Opportunity to construct custom or unique builds.
• Cheaper price per square metre during purchase.
• Odd spaces in irregular lots can be converted into pools, playgrounds, garden areas, etc.

Cons

• Difficult to develop due to the uneven angles.
• Fencing can be challenging and costly.
• Difficult to maintain property lines.
• The overall value may suffer due to buyers shying away from such lots.

Types of Lot Positions

The positioning of a lot matters a lot as it can affect the overall value of the property in the market. This is because certain factors that can affect the value, like privacy, noise, traffic, come into play.

Buyers would want to purchase lots that guarantee a quiet environment, spacious yards, enough parking space and privacy.

The most popular lot positions include:

Cul-de-sac Lots

Cul-de-sac lots are positioned at the end of a dead-end street that serves as a cul-de-sac. The frontage of the lot faces the rounded turn of the cul-de-sac. Such lots tend to take a pie shape.

 

Benefits of Cul-de-sac Lots

• Owners enjoy lots of privacy as the cul-de-sac deters through traffic.
• A larger backyard provides for more privacy as it's a favourite place for many to hang out.
• Less traffic means a quieter home.
• Great property value as many prefer privacy.

Cons

• A smaller front yard means little to no parking space.
• Lack of curb appeal due to smaller frontage.

Corner Lots

Corner lots are located between the intersection of two streets.

Benefits of Corner Lots

• Easy access to the side yards and backyards from the street.
• Good curb appeal. 

Cons

• Less privacy due to traffic on the streets.
• A bit of noise from the traffic.
• Lower property value due to traffic noise.

Key Lots

Key lots are bordered by 3 or more lots on all sides of the lot except the frontage. This gives the lot the impression of a landlocked feel.

Cons of Key Lots

• Such lots suffer from a lack of privacy due to being surrounded by lots of neighbours on the side yards and backyards.
• Lower property value due to lack of privacy.

Interior Lots

This is the most popular type of lot. Its positioning is such that it's surrounded by lots on the side yards. These lots usually take up a rectangular or square shape.

Benefits of Interior Lots

• Great curb appeal.
• Great overall value due to popularity.
• Appropriately sized front yards and backyards.

Cons

• Limited privacy as the lot is bordered by neighbours on the side yards.

T-intersection lots

T-intersection lots are located in front of an intersection between two streets.

Cons of T-intersection Lots

• Such lots suffer from noise and lack of privacy due to the oncoming traffic.
• Increased risk of traffic-related incidents due to facing oncoming traffic.
• Low property value due to the issues mentioned above.

Flag Lots

Flag lots are kind of hidden as the frontage can only be accessed through narrow access driveways. This is because the lots are situated behind other lots.

Cons of Flag Lots

• Suffers from lack of privacy as it's bordered by many neighbours.
• No curb appeal as the frontage of the property is hidden from the sidewalk.
• Low property value due to the issues mentioned.

Conclusion

Before buying a house or a lot, take into account the size and shape of the lot. A lot with a desirable shape and position should guarantee a degree of privacy and quietness.

If it's an empty lot, irregularly shaped lots may cost more to develop. However, the value of the property can be boosted by constructing unique properties that take advantage of the space.

It may help to note that undesirable features such as noise pollution or lack of privacy can be mitigated through landscaping, gardening or fencing. So, it's best to evaluate a lot keenly before dismissing it.