It’s every homeowner’s worst nightmare:
A new neighbor moves in next door and is running their junk car business on their front lawn. Or they are raising their own mini-farm on their 0.10 acre lot. Or they are the entertainers with weekly noisy parties.
Having bad neighbors cannot only be awful but also financially damaging to you.
These bad neighbors can lower your home value by up to 10 percent.
A recent study by the US Appraisal Institute indicates that your neighborhood – and your immediate neighbors – can be game-changers when it’s time to sell. You may be looking at a 5–10 percent drop in your home’s value. And a lower selling price.
And it’s not just close neighbors; it’s your street and often your whole neighborhood. Barking dogs, poorly maintained properties, utility towers, and excessive cars, boats, RVs, etc. parked on the street can make your neighborhood less desirable, and your home less saleable.
What can you do?
Have a conversation with the offending neighbor. Many don’t like to confront their neighbor as you do have to live next door to them, but a polite and civil conversation can resolve the issue. In my own experience, we had a neighbor who was having noisy parties every weekend. When we confronted the neighbor, it turned out it was the daughter having the parties unbeknownst to her parents, who left town on the weekends. Problem solved.
The next step would be to contact your Homeowner’s Association (HOA). Many of these violations are covered in your neighborhoods rules and regulations (CC&Rs).
If you don’t live in a neighborhood governed by CC&Rs and an HOA, you might want to start a Neighborhood Watch or even plan a neighborhood block party. This is a way to get neighbors involved and also the opportunity to get to know your neighbors. People who know each other are more accountable to each other. Don’t be a stranger – get to know your neighbors.
I’d also recommend searching “code enforcement” on your city’s website. Police departments can help in getting the junk cars removed, resolving the noise complaints, and a host of other issues. Another good source of online information is at the Coalition of Neighborhoods Association. Their website is http://www.olympianeighborhoods.org.
When it comes time to sell your home, it’s not just your curb appeal that will affect buyer’s decision to purchase your home.
If you are thinking about selling your home, contact me today and we can get a plan in place!