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Location, Location, Location…and the
Impact For Your Home
By Ann Smith
When purchasing a home, most people take time to consider the various
amenities they want included. They look at the number of bedrooms and
bathrooms, the size of the kitchen, type of floor plan, etc. But often,
they neglect to look at the type of property the home is situated on.
Whether it’s on a corner or backing onto a ravine, find out before you buy
how it can impact your family…from the amount of privacy you have to the
amount of taxes you pay.
Cul-de-sacs
If you’re looking for neighbourly interaction, a cul-de-sac may be the
right fit for your family. Given the circle formation, with every home
facing each other, it’s an ideal location for summer street parties and
often offers a central green space for kids to meet and play. Odd shaped
properties experience a different kind of assessment though so taxes may be
higher. Limited traffic access means a quiet neighbourhood.
Corner lots
Owning a corner lot may be less desirable to some people as you have double
street frontage and visibility – but you end up with greater access to your
home. Installing a fence is often recommended to offer more privacy since
visibility is greater, however, you must keep city owned boundaries in
mind. Expect increased traffic on both sides of your home. Homes on corner
lots tend to be priced slightly lower but you may pay more in taxes due to
the frontage.
Ravine lots
If you’re looking for privacy, a lot backing onto a ravine will bring not
only foliage and nature, but a buffer between backyard neighbours and
noise. These properties are desirable and tend to sell quickly regardless
of the higher pricing. Keep in mind safety precautions if you have small
children…and plan for extra cleanup from autumn leaves.
There are many things to consider when purchasing a house. MPAC (Municipal
Property Assessment Corporation) makes their assessment based on key
features of the property for value and taxing purposes. For details visit
the
MPAC Web site before you buy and ask your Realtor how location can
influence your future.
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