An Overlay places additional restrictions or encumbrances on your property.

Encumbrance is defined by Webster as:

1. something that encumbers; something burdensome, useless, or superfluous; burden; hindrance
2. Law. a burden or claim on property, as a mortgage.

An Overlay will affect the value of a major financial asset – YOUR HOME. As you will see above property values are not decreasing they are increasing. Whether you want to sell your home now, later or never its value is an important part of your financial planning. The less freedom and control you have over your property, the less marketable value it holds.

An Overlay will only restrict certain building options. It will not dictate quality, type or style of construction. While you may think this will maintain your neighborhood to the degree it is now, there is NO GUARANTEE that will happen.