The Pros and Cons of Small Lots vs. Big Lots
Whether you're looking to buy a piece of land for your dream home or investment purposes, the size of the lot is an essential consideration. Both small and large lots offer unique advantages and drawbacks. In this blog post, we'll dive deep into the pros and cons of each.
Small Lots: Advantages
Affordability: Smaller lots are less expensive. The cost of clearing and excavating the land to build is also generally lower than that of their larger counterparts.
Lower Maintenance: With less land to care for, maintaining a smaller lot can be less time-consuming and expensive.
Urban Living: Smaller lots are often found in urban settings, allowing closer proximity to amenities, entertainment, and employment opportunities.
Small Lots: Disadvantages
Limited Buildable Space: Mandatory setbacks can reduce the area you can build on a small lot. For architects, the limited buildable space may restrict creativity. For builders, small space means less room to store materials and park machinery and less room for excess excavated material. With less land, you have restricted options for future expansion.
Privacy Concerns and Limited Outdoor Space: Smaller lots might mean closer neighbors, insufficient parking space, and less recreational space.
Proximity to Utilities: Building too close to utilities increases the risk of accidental damage. Living too close to utilities may involve utility easements and limitations on landscaping. Certain utilities can generate noise and vibrations and can affect the visual appeal of the neighborhood, potentially lowering property values.
Big Lots: Advantages
Privacy: Larger lots generally offer more space between you and your neighbors and roads, ensuring greater privacy and a quieter living environment.
Expansion and Investment Potential: With more land, you have room for future expansions such as pools, tennis courts, larger gardens, and more recreational outdoor space. The value of large plots of land might appreciate at a more rapid rate than their smaller counterparts.
Buildable Space: You do not have to worry about mandatory setbacks or utility easements; you have more room to design and build your dream house. Builders have more space to store materials and park machinery during construction.
Big Lots: Disadvantages
Higher Costs: Larger lots typically come with a heftier price tag regarding purchase and property taxes. The cost to clear the land and to build a driveway on a large lot is much higher than on smaller lots.
Increased Maintenance: More land means more maintenance, from lawn care to clearing snow and driveway maintenance.
Potential for Isolation: Bigger lots, especially those outside urban centers, might feel isolated from the community and essential services.
