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:
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.