This is a post specifically about investing in properties on non-conforming lots with houses on them. I have a number of opportunities available in this situation but I don’t fully understand the pros/cons. Can anyone enlighten me or share wisdom they’ve accumulated from their experience as an investor?
Example A: A 2,200sqft home on a .367 acre lot in an area zoned for .5 acre lot homes. All zoning requirements are met except for the lot width. The requirement for lot width is 85ft when the property is 80ft wide.
Example B: A 1,500sqft home on 1.76 acre lot in an area zoned for 2.1 acre lot homes. All zoning requirements are met except for the front yard set back. The home was built in 1900 and is set 10 feet from the road.
I am not looking for anyone’s investment advice on the above properties. I am noting them as examples to paint a picture of the issues with the properties. I have talked with local codes/planning/zoning officials who all make sure to note that:
“The use of any nonconforming lots of record shall be controlled by the terms of the Zoning Hearing Board, provided that the yard dimensions and other requirements of any lot not involving area or width, or both, shall conform to the regulations for the district in which such lot is located unless otherwise specifically authorized as a special exception by the Zoning Hearing Board and that in any case a building shall comply with the yard and other requirements of the district to the maximum extent practicable.”
What has your experience with renovating homes on non-conforming lots been like? I can benefit from any and all experience and wisdom. PLEASE feel free to recommend other resources to consider. I am not rushing into any investments I don’t fully understand.