How Land Affects Home Value

Filed under Land Development on Apr 10,2018 | Tagged in: home value, land

Buyers often assume that a larger piece of land will automatically increase the value of a home.  But, the fact is that it is not always the size of the land that makes a difference, it’s about how usable the land may be.  For example, can the land be improved with a pool or tennis court?  Can it be used to build a guest house or garage?   If the answer is yes, that land could help increase the appraised or assessed home value, more than a parcel that is larger, but in some way not usable.  Another factor that can impact the value is zoning.  If you purchase a home that sits on property that can be divided into smaller lots and sold, the home may have more value.  For a good overview of how land value affects home value, take a look at this article from Zacks.  For the best value of all, let Vanguard Realty Associates help with your home search.  We know the local market and can help you find a home and property that meets your personal and financial goals.