Toronto Real Estate Blog

Think about your needs and wants when choosing your lot

By J. Lynn Fraser, New Dream Homes and Condos Magazine

Beauty is in the eye of the beholder—and this holds true when choosing a lot for your new home.

“It depends on your needs and wants,” states Sam Moses. Lots can differ in size, direction, slope, and shape as well as proximity to churches, schools, ravines, and watercourses and all of these factors affect the premiums you pay.

According to Moses, the direction your home faces may be of concern to you in terms of customs and religions or even just the amount of light you prefer. Shape and size are also issues. Look at your lot size. Is it standard or are you getting a little extra with or without a small premium? “Look for a little hole in the system,” Moses advises, to make it work for you.

Slope is important and impacts the number of steps it takes to get to your home. Find out if the slope of your lot gives you a walk out from the basement.  This is a benefit if you want a rental unit, or want convenient pool access. Moses also suggests asking yourself if the extra $10,000 or $20,000 premium for a walk out is worth it, “Slope can also give the impression that a house is taller in comparison to other homes,” according to Biju Karumanchery manager of development of the east district in Markham. He also notes that homes backing on to a berm with a noise fence, because they are close to a public road, will have a steeper slope at least in one section. Read over your agreement to purchase, Karumanchery advises, to be aware of all the details of what your lot will contain.

“Ask yourself ‘what am I looking at’ and ‘how many eyes are facing me’?” Moses suggests. Privacy is an issue to consider. “Corner lots by their very nature have less privacy,” according to Leo deSorcy, program manager of urban design in the North York District Planning Department. Creating a private space is more difficult on a corner lot, but deSorcy says this lot type can offer more light and tend to have more architecture features, both bonuses for a homebuyer.

Location is important. Moses observes that there can be a premium paid for “park like” space if the lot backs on to a church, golf course or school. He notes that in the past there used to be a premium for lots backing on to hydro corridors, but now there isn’t.

“Wide-shallow lots,” according to Karumanchery, which are wider than they are deep are considered desirable by some buyers because they have wider frontage. Other buyers, he comments, don’t like the “constrained” smaller backyard. Pie-shaped lots, and whether a lot is wider at the front or back, is also a matter of personal preference, says Moses.

“A premium should be fair and considered in light of resale and shouldn’t change over time,” stresses Mark Cohen, vice president of sales and marketing for Tribute Communities.

Look your builder’s past developments. See what home and lot design works best for you. List the positives and negatives for each lot type before you choose.

Beauty is in the eye of the beholder, but remember to get the details right.

Helpful Links:

Greater Toronto Home Builders’ Association
www.newhomes.org

Information about new homes from the Ontario government
www.trd.fin.gov.on.ca/userfiles/HTML/cma_3_44437_1.html

Canada Mortgage and Housing Corporation, Selecting a New Home Builder
www.cmhc-schl.gc.ca/en/co/renoho/refash/refash_020.cfm

Useful Books:

Canadian Home Buying Made Easy, by Douglas Gray, McGraw-Hill Ryerson

Buying and Selling a Home for Canadians for Dummies, Tony Ioannou and Heather Ball, John Wiley and Sons Canada, Ltd.

Buying, Owning and Selling a Home in Canada, Margaret Kerr and Joann Kurtz, John Wiley and Sons Canada, Ltd.

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Contact the Jeffrey Team for more information