A factor often overlooked by home buyers is who the neighbours will be. It can be easy to just focus on the property you are buying, however, the reality is that you’ll most likely be buying somewhere where you are in close proximity to others, and their property can directly impact yours.
The unfortunate truth is that, yes, your neighbours can affect the value of your property. If you’ve got neighbours who don’t look after their front gardens or whose house is a constant building site, you could expect to get lower offers on your property if you’re looking to sell.
According to research from Privilege Home Insurance, 92% of estate agents in the UK claim having bad neighbours can negatively affect your house price and those of other houses in the immediate area.
In this article, we’ll walk through what it is about your neighbours that could bring down the value of your house and how to minimise any reduction in value.
What can your neighbours do that will bring down the value of your home?
One of the main factors that will bring down the value of your property is the front of your neighbour’s home being unkempt. This might include a messy, overgrown garden, general poor maintenance of the front of the property, or having rubbish discarded in clear view. Another thing that may put off potential home buyers is the presence of large, unsightly vehicles or objects such as a large campervan or caravan.
Other red flags to look out for include ugly or imposing extensions or DI, overflowing gutters and boarded-up windows. If you have noisy neighbours and this becomes apparent during a property viewing, this may be the difference between someone putting in an offer or not.
It is estimated that the value of having good neighbours as opposed to nightmare neighbours is worth approximately £37,000 to British home buyers. Properties that have the misfortune of being next-door to properties that have particularly unkempt exteriors can see 8% of their value knocked off as a result.
What can you do to remedy having bad neighbours?
Unfortunately, there is not a whole lot that can legally be done to force your neighbour to maintain their property to standards you deem acceptable. However, if their property is causing damage to your property, such as an overflowing gutter causing damp or rubbish causing environmental/health issues, then the local Council can force your neighbours to take action to fix the problem.
Often, the best course of action is to try and speak to your neighbour and raise your concerns in a friendly, open manner. It’s important you try and build rapport with them, so they understand your concerns and hopefully take action. You shouldn’t go in all guns blazing, telling them to tidy up their property as this will likely just alienate them. Instead, get to know them first and once you are on good terms, approach the issues that are concerning you.
Having dodgy neighbours can certainly be a pain to put up with, both while living at the property and when trying to sell. It’s important to be aware of the effects that bad neighbours can have on the sale of your property, as well as how best to resolve these problems. In most cases, the best course of action is to be reasonable with them in order to address what’s you’re unhappy about, but keep in mind that if they are having a physical impact on your property, it may be possible to get the Council involved to resolve these issues.
This article was written by an online estate agent House Sales Direct. If you wish to sell your house fast and for free, then head over to the House Sales Direct website for more property related information and enquiries.