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reply 10

Would having a park across your home increase its value?

I am planning to purchase a new home in a new development. A park is in the plans and I have the option to purchase a home facing directly across from it. While prices have not yet been released, I assume there will be a premium for a lot across the park. My questions are:

1. Would having a park directly across the street from your home increase it's value (for reasale)? Do homebuyers prefer this vs. being eg. Down the street from a park?
2. Is it safe to assume the builder will charge more for a lot directly across or adjacent to a park that's does not?

Canada / New Home Q&A
reply 1 vote 3
Having lived across from a park there are some definite advantages and disadvantages as follows:
+ Side:
- there's a sense of ownership of the park given the unique vantage point and access;
- there's never a dull moment as you'll be witness to all sorts of activity and this will give you a better sense of the community and you'll forge a stronger connection to your community;
- you'll have improved access to vistas through the community as well as more sunlight (especially important given the fact that in most new suburban communities the houses are so jammed together)
- Side:
- If there's a baseball diamond or soccer field be prepared for beer leagues with streets blocked with cars a few nights in the week; this can be noisy but can also make for a fun spectator sport - also be aware that some players may come by and ask to use your bathroom
- Ensure you have high quality windows to keep the noise out - young teens experimenting with liquor at 2am is a definite possibility
Senior Buzzer
reply 2299 vote 171
Hey @NickK, I can not comment on the resale values. But, I grew up living across the street from the park and it was fantastic as a kid.
That said, I just purchased a house a block away from two different parks and I prefer it. I like having a park near by, while having houses and a tree canopy across the street. I feel that it gives the street more of a "homey" feeling.
So, my demand would be to be near a park but not across from one.
Hope that gave you some insight?
reply 224 vote 37
In terms of re sale it would have the same effect as a pool - for some people it would be great and they would pay a premium - for others though it may be a real negative. Buyer beware would be my advice!
reply 109 vote 57
Hi Nick,
Having a park close by is a huge plus for resale. Given that you seem to have the option to buy right across from the park or just half a block away or so I would opt for slightly down the street. Gordon mentioned having a pool in ones home and how that can be good for one buyer and not for another so it's the same with a park. Some people will think it could be too busy. Therefore if you're close to a park instead of across the street, upon resale your home will appeal to everyone. It will have the park close by and it won't be as noisy as being across the street.
Good luck.
reply 10
Thanks everyone for your recommendations - extremely helpful and very much appreciated!!!
reply 51 vote 6
It all depends on the type of park youre talking about if its something like ravine type park than than all the power to you my friend as those are always paid, and sold for a premium price.
If its a regular park than it might not be appealing to all buyers, but for resale purposes its still considered a plus.
reply 11 vote 4
Gererally being across from a park is better than being across from a row of houses. People like that.

They also like "no neighbours in the back": meaning having a field, park, ravine or golf course in the back. It's adds to privacy.

Mostly a pool is considered a negative. Some people hate them. And, it's too expensive to fill in an inground pool.

Also, corner lots/houses are not good either.
reply 192 vote 54
I think backing on to a park or across from a park is a plus to many, however if the park is connected to a school or community centre than it could be a big drawback due to noise and traffic.

Being on a golf course is a personal preference. There's the prestige aspect and it's nice to look at a nicely manicured landscape, though there are alsothe annoyance and damage due to flying golf balls.

Ravines or protected wilderness areas are I think the best, but some don't like the wildlife and bugs that are associated with them.

Pools are a definite negative due to liability and maintenance.

Houses on corner lots are a hit or miss to certain buyers.
Some don't like them because there's less privacy, especially if it's on a busy intersection, and if it has a sidewalk there's twice as much to shovel.
Some like them because you don't feel boxed in by neighbours on either sides, the house has more light/windows/views, it gives the house a more stately appearance or presence (especially if the garage could be tucked around the side), and the lot tends to be larger.
Some agents say homes on corner lots sell for less, but I don't think it's really true. Yes, it could sell for less but it could sell for more depending on the buyer. I personally prefer homes on corner lots.
reply 10
Thanks so much everyone for your advice.  Having heard all the pros and cons, I think I will stay away from being across the park.  The drunken teenagers scare me!
reply 11 vote 4

Hello: Maybe you should share with us where this property is and how big the park is. Not all parks have "drunken teenagers" in them. Some are lovely, small parks where normal, quiet people take walks, walk their dogs, etc.

In the real eatateprofession, a park is considered a plus.


reply 5
I am considering getting a premium lot facing a soccer field, which is part of a small park.  I don't think the field would be lit (i.e., no bright lights in the evening).  Considering that there would be heightened traffic when pee-wee games are playing, would you say that the location is still a plus?
reply 19 vote 2
One major bonus about facing a park that nobody has mentioned here is that it will likely prevent any developments from going up directly across from you. A space that is zoned for park use is extremely unlikely to have towers built on it. Yes you might pay somewhat of a premium for the view, but that translates to resale value as well. 

Whether you're looking to purchase as an end-user or an investor, it's also a great perk for families to have park space nearby.   


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