That is true: what I understand, & by the way, is very disheartening to
"Many" would be New Home Buyers is the fact that Many Localities permit
Land Developers [where new Urbanizations have been sprouting] to Create
an Ad Hoc Government so that Nobody will steal there Feeling of
Household Bliss by Adding, or Bringing up Fancier Than Thou Modeling
into "Their" community....
Many sub-divisions have restrictions that set the minimum cost of any home
to be built and some have rules that when you buy a lot from the developer
you MUST built within a certain time but usually the only thing they keeps
you from building a "too fancy" house is common sense.
There is, of course, the additional issue of the HOA (Home Owners
Association) which can (are often are) quite nasty is the silly rules they
can impose. Virginia seems to have a state policy of putting teech into
the HOAs. HOAs can legally do what local governments can't since theyare
"voluntary." Also, some developments effectively put utility and drainage
easements over the entire lot. There must be some restrictions or no
rational bank would provide financing.
It's just a Shame, I've seen what they Built and what they don't want
you to build, it's not like WOW., you model stinks.
Like it or not, communities with sem-uniform homes have better re-sale
results than communities where no two homes are the same. I think what
happens is that an "odd ball" home may not sell unless the price drops down
to the basement and a low sale price in the neighborhood tends to bring
assessments down for everyone.
Most buyers have no intention of staying in one home until they die. They
make the very rational decision to buy in a development where the home have
a certain variability but nothing sticks out.
I live in an "anything goes" development. We got our place for so little
that we could have paid off the mortgage after only 6 years. The medium
sized homes are assessed for about 1/2 the value of smaller homes with small
lots in newer "regulated" sub-divisions. We enjoy are low taxes and our
low mortgage payments but if we had to sell we would envy those in the
"proper" sub-divisions.
We'll just have to move on and find a Land or Developer that is More
Open to Change and Variety.I wouldn't put a sinlge Penny of my lifelong
into one of those sticky deals., I'm (we're) way too past that.
Well, sport, an "over built" home often becomes a White Elephant. If you
want to stay there "forever," it doesn't matter. IF you intend to move on
or want to pass on a valuable property to your kids then ...