A variance in real estate is anexception to any local zoning law;think of it as a waiver for any standard zoning regulation. As opposed to zoning law changes,which affect all properties in a zone,a variance may only be granted on a case-by-case basis and only applies to specific requests made by property owners or investors.
People also ask
What does it mean when a property has a variance?
If a property has a land variance the town granted the owner permission to use their land in a way that isn’t normally permitted. It can be an exception to a zoning ordinance (like a business in an area zoned residential), a building code, or a municipal code.
What is a zoning variance and how does it work?
Essentially, a property owner requests a variance when their planned use of their property deviates from local zoning laws designed to protect property values. If granted, a variance acts as a waiver to some aspect of the zoning law or regulations.
What is an area variance?
Area variance is an authorization to use the land in a way that is not allowed or severely hindered by dimensional and/or physical requirements of the zoning regulations in place. Area variances are more common and more easily approved.
What is a use variance?
Use variance is an authorization to use the land for a purpose that is otherwise not allowed or severely hindered by zoning regulations in place. Use variances are more controversial, because the changes required may affect neighboring lot owners or users.