Real Estate - Do neighbors affect property value?
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Just read a great topic that discussed in SavingAdvice.com Forum. It is a about a question “ How do your neighbours affect your property value?â€Â
Our properties’ value is very important to all of us. If you intend to sell your property later, how the properties increase in value is important to you. If you are a real estate investor, how much your property can appreciate in certain time is an important factor for you to consider. However, today, let us think about a question: Do neighbours really affect your property value?
According to the discussion:
“Research from propertyfinder.com reveals that while the perfect neighbours can add more than four per cent to your house price, squatters settling next door can lower it by four times this amount. “
That’s means your neighbours really have a deep impact on your property value.
In my opinions, neighbours are the nearest persons that stay next to you. If you neighbours are good, as the house owner and living there, you will have less problems and more time to enjoy your life. But what happen if you neighbours are dirty, always make some noisy sound that disturb your life or always do something that offend you and make you angry? I bet you will say you hate them. So same with your tenants or the next buyers for your house. For me I don’t think I’m going to buy a house that neighbours always keep giving me the troubles. In this case, your property value will deeply go down.
Before this I always heard that, house or property in certain “neighbourhoods†always have a higher price compare to other. Why? One logic thinking that I have is property value depends on neighbourhood and neighbourhood is build from neighbour. So property value is also depending on your neighbour.
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