Bad neighbours can cost you £83,000

Your neighbours’ habits and taste could slash the value of your home

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We've all got good reasons for failing to love our neighbours. Whether they have noisy children, horrible curtains, or an aversion to gardening, familiarity with their flaws can easily breed contempt. So it comes as no comfort at all to learn that they aren't just a daily annoyance while we're forced to live next door to them, they're also set to cost you anything from £37,000 to £83,000 when you come to sell.

A survey by Prestige Insurance found that overall bad neighbours can knock £37,000 off the average asking price of £211,230,

Noisy neighbours can do the most harm. In fact having a noisy neighbour can scupper a sale entirely if anyone coming for a viewing is immediately put off by the sound of music thudding through the walls.

Untidy and overgrown gardens are also another major turn off. Some people think it speaks volumes about the kind of person who will be living next door, and they don't like the idea of living close to someone who has no pride in their home, or is too lazy to get the lawn mower out every couple of weeks. The study put the cost of a messy garden next door at £17,321 - or 8.2% of your asking price.

Having a neighbour with anti-social DIY habits can also be expensive. Botched DIY worries potential buyers about the risk of the house next door falling into disrepair. Meanwhile, over-enthusiastic building projects, and sprawling extensions can have a similarly significant impact. These knock around 7% or £14,000 off the value of your home.

Finally, having a neighbour with bad taste can knock £10,000 off the value of your house. It's hardly surprising, especially if they have chosen to express this taste through cladding, unusual paint choices, or an array of garden ornaments. This will knock an average of 4.8% off the asking price.

Of course, the more expensive your house is, the more financial damage a bad neighbour can do, and the study found Londoners can lose up to £83,000 of value because of the people living nearby. It therefore makes it particularly unwelcome news that Londoners have the worst neighbours - with almost one in five wishing they could move house in order to escape them.

But what do you think? Would you be put off by neighbours with stone cladding, an overgrown lawn, a barking dog or a huge extension? Or would you see it as your chance to snap up a bargain? Let us know in the comments.

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