How good neighbours can add thousands of pounds to the value of your house
They say you can’t choose your family, but you can choose your neighbours – and the people living nearby can even add value to your house.
Property experts at PriceYourJob.co.uk were curious to find out the impact of good neighbours on property values across the country, and surveyed 2,341 homeowners to find out more, asking if they’d be happy to pay more for a property if neighbours had desirable kerb appeal, and what features would influence their decision most.
The survey found that more than half, 51 per cent, of respondents would pay one to three per cent more than the house is worth for good neighbours.
Forty-four per cent would pay four to seven per cent extra and four per cent of homeowners would part with eight to ten percent.
And, one per cent of homeowners would pay a staggering 10 per cent extra or more to get good neighbours.
The survey also discovered that a well-kept garden next door might be the key to getting more money from your property.
A spokesman from Price Your Job said: “A well-kept garden is hugely important when viewing a property, with 67 per cent of British homeowners more inclined to view a house where the garden is in a good condition.
“Therefore, it’s somewhat predictable that 75 per cent of survey respondents claim they’d be willing to pay a premium for neighbours with a well-kept garden.”
Following not too far behind is a well-kept driveway, with 67 per cent of Brits dubbing this the second most influential good neighbourly quality for potential added value.
It would appear 58 per cent would rather not see overflowing rubbish in bins, while 56 per cent would rather not see the bins at all.
In the penultimate spot are high-quality DIY finishes with just 14 per cent.
In last place are modern or well-kept cars in the drive, influencing just eight per cent of the population.
In regional terms, residents in Yorkshire and the Humber would be comfortable putting £5,405 onto the price tag of an average house price in the area – £180,177 – to get a friendly neighbour.
But East Midlands residents would part with more, £6,559, for their average price of £218,640.