subject: Buying a home and the principle of conformity [print this page] Buying a home and the principle of conformity
When you purchase a home, you're not only buying into the individual property, you are also becoming a part of the neighborhood at large. This is one of the things you need to consider if you ever want to sell the property in the future. Even if you think this is your dream home and you have no plans to move, there's a good chance that your plans will change in the future. It is best to keep in mind the future value of the home when deciding whether to purchase, and one of the important factors in future prices is the principle of conformity.
The principle of conformity tells us that your home should probably not deviate too much from the style, condition, size, or age of the other homes in your neighborhood. This may sound like we are trying to stifle your creativity, but that's not really the case. There are many things you can do to beautify your home on the inside and outside, but your home should not stick out like a sore thumb if you have any concerns at all about the future value.
Let's take style as an example. Let's say you were looking at a neighborhood with lots of older but elegant homes that have a historic style such as Victorian or Pennsylvania Dutch. You then see one home that sticks out in this neighborhood because it is obviously a modern home that has been built recently. This house may be lovely, but it will likely seem out of place in a neighborhood of older homes (unless the entire neighborhood is being rebuilt by tearing down the current homes and replacing them with modern architecture).
Perhaps you see this new home in this particular neighborhood and fall in love with it. The neighborhood is not too far from your work, and the surrounding area seems peaceful and attractive. However, if you're thinking about the future value of your home, the situation should give you some pause. Even if you don't mind, many prospective buyers would not like to purchase a home that stands out so much from the rest of the neighborhood.
These thoughts also apply to significant deviation in your home's size or condition. You would not want to purchase a new and stylish home in an area surrounded by dilapidated structures. Not only would this be depressing for you to see each day, but your home's price is less likely to increase over time since prospective buyers want to live in a neighborhood full of homes with similar values. Why would you pay $250,000 for a home surrounded by deteriorating houses when you could pay a similar amount in order to surrounded by other homes that are also worth $250,000.
