Issues With Neighbors Can Lead to Decreased Property Value
Scary barking dogs, what seems like a used car lot, yard used as storage, no landscaping maintence.....all of these things can lead to bringing the value of your home down. Guilty by association (or by proximity, really). So what does one do if they want to sell their house and the value is less than similar comparables in the area as a result of a neighbors lack of care?
Issues With Neighbors Can Lead to Decreased Property Value
An article in CNN's Money Magazine from July 2013 addresses this issue. We've all seen the unkempt, sometimes dilapidated house in an otherwise "nice" or "descent" neighborhood. These houses pose more of a problem than just an inconvenient eye sore. Homes of this nature could bring down neighboring property values by as much as 5%!
Issues With Neighbors Can Lead to Decreased Property Value
There are a few different ways to approach the subject with your neighbor. It certainly won't be an easy conversation, but it can be addressed most of the time if handled property. Here a few tips to remember when deciding to confront someone about these issues:
- Don't hash out any issues when mad. If that barking dog has you at your wits end, don't run over next door and let them have it. Let yourself calm down first, maybe sleep on it and approach the problem with a calm manor. The chances of a positive result are much higher when handled on a level emotional state.
- Schedule a time to talk rather than springing it on your neighbor out of nowhere. Perhaps offer to have them over for coffee to discuss. Kind gestures are generally met better than angry demands.
- Do the proper research before discussing anything in case you feel you may have to refer to local laws or ordinances.
- Keep a record of discussions and/or incidents that pertain to this particular neighbor.
Issues With Neighbors Can Lead to Decreased Property Value
So once you have your head in the right space, not only will it be easier for you to present the issues you are concerned with, it'll be easier for them to be received.
Have you ever had to deal with a situation like this? How did you handle it and what was the result? The most important thing to remember is when it's all said and done, you still live next to this person, so use your best judgement when approaching them and letting them know what you expect from the discussion. Make sure they are aware how it impacts your life and even your finances if property value has become an issue. Of course not everyone will be receptive to these issues, but taking the high road is always your best bet.
Issues With Neighbors Can Lead to Decreased Property Value
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