What is the primary benefit of combining two lots into one property?

Combining two lots into one property mainly provides the benefit of obtaining plottage value. Plottage value refers to the increase in value that is realized when two or more adjacent properties are combined into a single larger parcel. This can occur because a larger lot may be more attractive for development, given that it typically provides more options for potential use compared to smaller, separate lots. For example, a combined lot could permit larger structures, allow for more efficient land use, or create a more commercially viable space, such as a parking lot or a larger residential development.

Plottage value enhances the overall investment potential of the property by maximizing its usefulness and appeal. This economic advantage can lead to a dramatic increase in value compared to the sum of the individual lots. On the other hand, considerations such as maintenance ease, property tax values, and marketability are secondary to the crucial aspect of plottage value when it comes to combining properties.