Bad neighbours can have an impact on the value of your home

Bad neighbours can have an impact on the value of your home

Everyone wants good neighbours, but as our survey back in May showed that isn't always the case. Rather like families, you can't choose your neighbours, but you just have to hope that you strike lucky.

The majority of the time, that is what will happen – our findings revealed that over half of us socialise with our neighbours and three-quarters (76%) live on a friendly street. But when bad neighbours are an issue they can prove costly, as research from Privilege Home Insurance has shown.

Having a bad neighbour/neighbours can seriously impact the value of your home and what buyers are willing to pay for it.

If you have neighbours with overgrowing front gardens, poorly kept driveways/gardens and junk or unwanted items sprawled across their front lawns, it is likely to impact the price you can get for your property – to the tune of £17,321 on the average house in the UK, according to Privilege's findings.

On the other hand, having good neighbours next door can have a really positive effect on the price of your home. It could up the value of your property by 9.4%, providing a very welcome extra £19,856 to the average property in the UK.

The difference between having a good neighbour and a bad neighbour is, as you might expect, very drastic, worth £37,177 to the average British homeowner.

In the capital, where the average price of a home is currently around the £470,000 mark, being lumbered with a bad neighbour rather than a good one could impact on the sale price of a home by a massive £83,100.

The most off-putting things a home next door can have are broken or boarded up windows – this, the research reveals, could knock off nearly £23,000 on the value of an average British home.

Unsightly  extensions and rubbish or junk on driveways/front gardens are other ways that homes next door could devalue your house.

Building works, rotting or chipped window and door frames, overflowing gutters and dirty brickwork or property frontage were also cited as reasons why the look of your neighbour's home could cause your own home to drop in value.

Unfortunately, there is not a great deal you can do about your neighbours or how they maintain their property.

As a seller, you just have to hope that you're part of the majority who live on a friendly street with good neighbours, where poorly maintained, boarded up homes and rowdiness are not an issue.

That way the problems outlined above won't be problems for you when it comes to the selling of your home.