Lot size- importance and reducing?

We currently have a decent lot size but the backyard has a big hill then it's flat again and is a great yard- it's just getting down there. We r house hunting and Dh doesn't want to reduce size of yard! but to me if it's flat with easy acces and decent size it's ok to go smaller. Thoughts? Do we, in a way, downsize? And we're not talking acres here- like .3

Re: Lot size- importance and reducing?

To me, it's a personal preference. Obviously, lot size contributes to the overall value of your property.

I think, from a resale value standpoint, you don't want to buy a lot that's abnormally small for the area. So if 60 by 100 is the norm, then to buy a 37 by 80 lot will make the home less desirable to buyers.

But beyond size, it also depends on how useable the yard is. A corner house can have an oversized lot, but not much backyard. Or a house can have a large property, but a lot of "frontage" with not much in the back. A very large yard may also have hills and slopes (like your current yard), and buyers know it can be very expensive to "grade" or level the property.

Most buyers -- you, included, it sounds like! -- want a back yard that they can use and enjoy (for entertaining, kids' playing, etc.). If you have that, then I think exact size doesn't matter as much. In fact, some buyers clients that I have don't want a super huge or very deep yard, because of maintenance.

So I would try to buy something that is at least average for your area and that you and your DH feels you can use and enjoy and worry less about the exact square footage of the lot. (So, in many cases, you probably have to see it in person to judge whether it would work, rather than going by listing stats).

But that being said, the lot size won't change, so you really have to make sure you both agree and are happy with the size of the property.

Lot size- importance and reducing?

We looked at many houses that, on paper, had a large (enough) lot size, but turned out that the yards were primarily on a hill - so those were not for us. It was important to us that the yard be fairly large and most importantly, usable.

I would look for a yard that is more usable, even if overall it's a little bit smaller

Message edited 7/11/2014 9:07:20 AM.

Re: Lot size- importance and reducing?

I don't need a huge lot, especially living in Queens, never expected one ours is 40 X 147 and it is perfect, We have a garage big patio, grass area and large pool, honestly I would not want any bigger bc it is enough work to maintain what we have, also the whole yard is useable space.

Re: Lot size- importance and reducing?

I think if it were more usable, I would have no issue with downsizing.