Some 88% believe having a nice house next door increases the value of a property by an average of 12% or £19,400. And conversely, an unsightly home next door will reduce the value of a property by an average of 13% or £21,000, the research from home insurance firm Churchill has found.
Broken or boarded up windows named as the number one neighbouring property price killer. If the house next door has an overgrown garden, broken windows, or a rundown car in the drive these attributes will also force down the neighbouring property's value.
And if your neighbours have garish paintwork, overflowing gutters, an unsightly extension or even dirty windows, this could also wipe thousands off the value of a property.
‘Whilst many householders will recognise that the condition of surrounding properties can influence curb appeal, the study shows that the upkeep of a neighbouring property could affect the sale price of a home by thousands of pounds,’ said Martin Scott, head of Churchill home insurance.
‘Relatively minor issues such as maintaining gardens and keeping external paintwork in good condition could increase property values in the area generally, putting pounds in home owners' pockets when they come to sell,’ he added.
