Property Investment Logo

Property Investment

Abstract image of numbers falling

Messy Neighbours Could Cost You £57,000 When Selling Your Home!

When it comes to selling your house, the state of your neighbour’s garden could be more important than you think. According to fresh research, having a messy neighbour could slash up to £57,000 off your property’s value. That’s a lot of money potentially lost due to something completely out of your control.

The Price of Untidiness

It seems that the appearance of the property next door can greatly affect potential buyers’ decisions. The concern? That untidy gardens are a red flag for possible anti-social behaviour. This insight comes from insurance giant Churchill, which highlights the impact a neighbour’s poorly kept garden can have on property prices.

In a survey of estate agents, an overwhelming 82% emphasised the need for sellers to have a word with their neighbours about tidying up their act. According to the Daily Telegraph, the average hit to a seller’s home value due to a messy adjacent property is about £31,000. That’s roughly 10% of the average house price in England – a significant dent by any measure.

Location Matters

The financial blow varies significantly across regions, with Londoners facing the stiffest penalties. In the capital, an untidy neighbour could diminish a property’s sale price by an eye-watering £56,950. The South East and East of England are not far behind, with potential losses of £41,000 and £37,000, respectively.

Sarah Khan, Head of Home Insurance at Churchill, points out, “First impressions count when it comes to selling homes.” It’s clear that the neighbouring property’s condition can substantially influence the sale price, often to the seller’s detriment.

Beyond the Garden

It’s not just messy gardens that are causing concern. Loud music, noise from pets, and even unfavourable first impressions upon meeting the neighbours can deter potential buyers. The issues range from broken trampolines and piles of waste to more serious concerns like asbestos-covered sheds.

Jonathan Rolande from the National Association of Property Buyers shares his observations, “You see broken trampolines and piles of waste…if there’s a large accumulation of waste, maybe they are a hoarder or recluse.” It’s clear that what lies next door can lead to troubling questions for potential buyers, such as whether they’ll be awakened early on Sundays by the sound of car repairs.

A Common Concern

The message is clear: “People don’t want to buy trouble.” This sentiment resonates with many sellers who find themselves at a disadvantage due to the condition of neighbouring properties.


Posted

in

Tags: