How Much Money Is Your Neighbor Losing You On A Sale?

Selling

I really dislike using ugly photos on this website, but it certainly makes a point. Your neighbor can cost you thousands if not tens of thousands of dollars in lost value on your home when you’re selling it.

The photo represents just one case where a property sat on the market long and sold for less than it should have, had this view not been there.

It could be as simple as the color of a house, but common symptoms include, excessive cars in the driveway, on the street, un-kept yards, messy front yards, un-kept homes. The list is long.

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In one case, in a cul-de-sac a client seller’s home was next to a home that was nice, except that they kept 3 cars in the driveway and 2-3 cars in the street.

Even though it was legal, the cars looked normal, it was unsightly and it was also the reason it took nearly twice as long to sell and the price could have been at least $10,000 or 5% more had the number of cars been normal.

How much will the view in the photo above hamper the sale of the property? It’s hard to say, but it’s not something you want a potential buyer to see.

What can you do about it? It depends. If what the neighbor is doing is against regulation you can complain to the city, but sometimes you can’t, like in the case of a house color.  Maybe talking to a neighbor will help.

 

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