DBPR asked property experts Ashley Wilsdon and Jamie Hope about the ways in which good and bad neighbours can can raise or lower the value of your property.
Ashley Wilson, Middleton Advisors
“A bad neighbour can certainly affect the saleability of a property. These are some of the things we look out for when assessing a property for a client:
- Scruffy facade – first impressions count and a building with cracked window ledges and peeling paint, often says ‘ we don’t care’.
- Drawn Curtains in the middle of the day – always looks suspicious!
- Bins – tidy and hidden away or open and full of rubbish
- Door bells – too many for the type of building might indicate more neighbours than expected. A single dwelling is often more attractive than a block of flats.
- Gutters – not maintained may have an adverse effect on the property in question.
- Roof – if shared, check condition.
- Smells – Walking into a communal hall way and there is dodgy smell. Trust your senses and investigate!
- Noise – an obvious one but so important. Does the apartment upstairs have wooden floors and poor insulation. We would always check the lease also.
- Pest control – keep an eye out for mouse traps, they are often hidden, or inconspicuous.
- Caretaker/Porter – Always happy to talk and the best source of information on who live sin the building. Don’t be afraid to ask.
Likewise, a well presented house next door can make all the difference. It might not actually impact capital value but an aesthetically pleasing terrace of houses, will always trump those with a few black sheep. The domestic markets tend to be more friendly in terms of knowing your neighbour. Often families, whose children attend the same schools. Barnes, Battersea and Richmond to name a few.”
Jamie Hope, Director of Sales at Maskells
“Good neighbours with quiet well behaved pets and children! No kids learning the drums. When gardens are well kept and the exterior nicely maintained it is a bonus. If living in a block of flats, then paying the service charge!
Not leaving buggies/bikes in hallways as when this happens it really makes people mad – space is a premium in London. The moral of the tale is don’t be selfish.
Bad neighbours constitute the opposite of all of the above. Bad dilapidated exterior and garden definitely makes a house less saleable when people view and see next door.
Sometimes someone will want to buy an adjoining property. The current owner wants to carry out alterations/works that require other freeholders’ permission. A neighbour becomes obstructive in the hope the person moves and they can acquire.
Basement excavation that drags on and is unreasonable causing neighbours disturbance and disruption on a daily basis.”