Definition of "Open space"

One of the things that humanity aspires to is open spaces and outdoor recreation opportunities, a place where families can enjoy natural beauty in its most raw form. The open space definition is those areas of unimproved land or water that are undeveloped in any way and are set aside in a developed area for environmental or recreational purposes. For example, a subdivision having 50 homes dedicates five acres for a recreational area to be maintained by the local municipality.

These open space areas are planned in only one way, and that is as a structural element of that area of the city or neighborhood. When development happens in a city, these areas are left undeveloped and are made public so that those living in the area can enjoy them. A neighborhood with open spaces where residents can hike or experience other outdoor activities is more appreciated than those without. These usable public areas are inviting and work as an incentive for the community to explore them in their own time. Some real estate open spaces work only as a visual amenity, but they can also work to improve the community like agricultural land does to rural towns. 

Types of Open Spaces in Real Estate

Green spaces are the most common types of real estate open spaces in cities. New York’s Central Park is a famous place, but the level of development in it may affect its status as open space. Parks, however, in general, are considered to be open spaces. Green spaces are covered in grass, shrubs, trees, or other types of vegetation. Ponds, rivers, and stretches of water are also included here. Some level of development can be encountered in parks. Still, those are only incorporated within a park to make them more enjoyable, and the amenities included can be benches, playground areas, lanes, recreational areas, etc. Other types of green spaces considered open spaces in the real estate market are cemeteries for their effect on home values and community gardens for the visual benefit they bring to any development.

The other significant types of open spaces are national parks, national forests, or protected wildlife refuges. These types of open spaces are public or semi-public as pedestrian access is not always allowed in all the corners of wildlife refuges or protected reservations. 

Comments for Open Space

Terrance C Triplett Terrance C Triplett said:

Is Fort Washington Maryland a safe place to live?

Sep 22, 2024  20:43:17

 
Real Estate Agent

Hi Terrance, we have already answered this question here: https://www.realestateagent.com/real-estate-questions/is-fort-washington-md-safe.html. Hopefully, this will help you make the right decision. If you have any other questions, we are here to help.

Oct 08, 2024  14:37:32
 
 
image of a real estate dictionary page

Have a question or comment?

We're here to help.

*** Your email address will remain confidential.
 

 

Popular Real Estate Terms

Partial fulfillment. Pro tanto is normally used in relation to the partial satisfaction of a claim. For example, a pro tanto settlement in an eminent domain action will not prejudice any ...

See effective tax rate. ...

The definition of abatement is a reduction of penalties or a tax deduction for individuals or businesses. It can often be accessed upon an overpayment of taxes, if the company or individual ...

A lien against all of the property of a debtor. A general lien may be obtained either through a judgment lien, where the court issues a judgment, a lien by creditors on a state, or through ...

Danger, hazard, risk, or peril. For example, jeopardizing a piece of property by pledging it as collateral for a loan. ...

Relationship between individuals or entities whereby rights given to one are returned in kind to the other. An example is where one person has the right to use facilities of another with ...

Certificates that pass-through principal and interest payments to investors. ...

Type of property distribution occurring when a person dies intestate. The estate id divided by the children of the deceased and by their children. For example, if a husband dies intestate, ...

Conifer wood, such as pine and redwood. ...

Popular Real Estate Questions