The Impact Of McMansions On The Value of Neighboring Homes
"Our three-bedroom, one-and-a-half bath, 2,400-sq.-ft. home, once among the largest in the neighborhood, will soon be among the smallest.... So we've made our peace with living within our home's boundaries. But we wondered: Would not keeping up with the Joneses hurt the home's resale value?
...People who are shopping for homes in a certain neighborhood expect certain amenities in those homes, says Kermit Baker, director of the remodeling futures program at Harvard University's Joint Center for Housing Studies. 'If you're not keeping up with other homes in the neighborhood, you may have home buyers walk away from it,' he says."