Choosing A Lot

The nature of a lot can vary almost as much as the design of a house. Lot size, determined by width and depth, will be a major determinant to the cost of a home. The width of a lot will generally determine the type of options that can form part of the front of a house. For example, double care garages or wrap around porches require extra lot width. Lots will also vary by grade. There are basically four types of lots determined by grade:

1. Walk Up Lot - the front entrance to the home is well above street level usually resulting in a stairway to the front porch.
2. Flat Lot - is roughly at street level.
3. Lookout Lot - is low at the back of the house with basement windows at a level where you can see out.
4. Walk Out Lot - Basement has a door leading to outside at the back of the house.

Other characteristics of lots tend to affect the cost of the lot. Wooded lots, extra deep lots and corner lots usually have a premium price. Because of the scarcity of new land, values continue to increase. Any extra price paid for a lot today will add to future resale value.