Credit gives the word to pay either by repaying it or returning those resources later. In other words, this credit is the method of making the reciprocity formal, legally enforceable, and of course, extensible to a vast group of people who are not related.
However, the resources provided may be financial or have goods or services, like consumer credit. The credit covers any form of deferred payment. Credit generally gets extended by the creditor, the debtor or lender, and sometimes the borrower.
Properties like flag lots are typically prevalent when it comes to commercial and industrial areas. It is important to note that some subdivision real estate regulations strictly prohibit the construction of flag lots owing to the inconvenience that comes with it.
Let us look at the various advantages and disadvantages of a flag lot in terms of real estate.
Advantages of a flag lot: One important advantage of residing in a flag lot building is the privacy attached to it. Owing to its reduced proximity to busy roads or public areas, one can experience a state of noise-less relaxation and composure.
The potential threat of trespassers is also considerably reduced when it comes to flag lots. It may be especially preferred by people who seek to get away from the busy urban lifestyle and the prying nature of society.
The view from an elevated flag lot property is another advantage of residing in one. A pleasant view always contributes largely to the value of any property and that is also the case with flag lots.
Disadvantages of a flag lot: Although flag lot properties lack adjacency to busy roads and crowded public streets, these lots are surrounded by other buildings which in turn may lead to intrusive neighbors. You may prefer a flag lot considering the peace and quiet that comes with being away from crowded areas, but you must also take into consideration the chaos of having adjoining buildings and people residing in close proximity all around.
The view, on one hand, can be a game changer when it comes to flag lots on higher floors. On the other hand, rooms on lower floors of flag lot properties may not offer such facilities. On lower floors, your building will most likely be surrounded by other buildings which will greatly hinder your idea of a view.
Remodeling a flag lot property also becomes a pain owing to the reduced amount of free space or road access.
