Why Are People Buying Larger Lots?
What are the main factors drawing buyers to search for large lots?
In the last year, there’s been a noticeable increase in demand for homes on larger lots—even in a tight housing market. In many cases, that doesn’t actually mean people are searching for larger houses — just more land.
Why are we seeing a shift from small plots of land with manicured yards to more beautiful landscapes and sprawling lots?
COVID-fueled priority shifts
One of the main drivers for this change in mindset around lot size is the COVID-19 pandemic. Many buyers are moving away from lifestyles in cramped cities, crowded apartments, or jam-packed neighborhoods. During lockdown, proximity to neighbors and lack of room to spread out took a toll. Now, although many people have been able to return to a somewhat normal lifestyle, homebuyers are still prioritizing personal space and a bit more elbow room. This often becomes a reality through buying a home with a big backyard and plenty of usable space for outdoor activities.
More privacy
Another newfound priority in the wake of the pandemic is the need for privacy. During lockdown, suddenly everyone in every neighborhood or apartment building was home all day, at the same time, every day. Plus, people became ultra-conscious of keeping their distance from others. This led many house hunters to look to buy a lot with a large landscape, even when looking for average size homes.
Large lots allow for more distance between each home. Whereas some communities and new build developments feature homes a mere fifteen feet away from each other, building on a larger lot means you’re never overhearing your neighbor’s conversation, no matter how many windows you’ve got open. This privacy also allows for more uninterrupted outdoor gatherings, which have seen a spike in popularity since the pandemic as well.
Opportunities for outdoor upgrades
Buying a large lot means purchasing potential. Even if the lot is largely undeveloped when you buy it, you’re still buying space that can later be home to an upgrade. From implementing large lot landscaping ideas to considering the future uses of the outdoor space, you gain the freedom to create what you’d like in your outdoor space. With the rising popularity of outdoor gatherings comes the demand for amenities like outdoor kitchens, pizza ovens, and lounge areas.
In warmer climates like North Carolina, there’s a trend toward installing outdoor pools. Whatever your outdoor dreams entail, buying the space to make them a reality is the first step. These upgrades also play a role in how lot size affects home prices, as they give you room to increase the value of the home later on.
Potential for additions
For some buyers, the idea of outdoor amenities isn’t quite as appealing as the possibility of adding onto the house later on. A large lot provides the flexibility of knowing that your floor plan isn’t set in stone, and you can add on to your home so that it grows with you and fits your family’s needs.
Space for kids and pets
In today’s market, there are plenty of people looking to buy a home not only for their kids, but also for their dogs! A large lot means more room for pets to play, as well as space for equipment like jungle gyms and treehouses for children. Having the space to spread out and get some fresh air can go a long way.
Customization
Overall, many buyers are shying away from cookie-cutter homes on identical-looking lots. Larger lots often involve native plant life and more opportunities for customizing the space.
Just as custom homes mean a more personalized house, large lots mean having the room to tailor your surroundings to your changing needs and interests. From gardening and composting to sports set-ups and pools to treehouses and ADUs, having extra space opens up a whole wealth of possibilities.
And of course, all of these perks also make the home easier to sell eventually, since a large lot is desirable to future buyers for all the same reasons.
Ready to build your own custom home on a lot with all the space you need? Get started with Atmos today!
