If you are selling a property, don't forget to factor in the influence your neighbors are likely to have on your efforts. For example, the neighbors can scare away potential investors if:
They Are In the Sex Offender Registry
Sexual crimes are considered very heinous by society, and which is why most people don't like to live next to sex offenders. Therefore, if you have a neighbor whose name is on the sex offender registry, your home may sell at a slower rate than comparable homes without such neighbors. Families with small children will be particularly wary of buying your house. Not only that, but the home may also fetch less than it would fetch if your neighbor's name wasn't on the registry.
They Don't Take Care of Their Homes
People don't just buy homes; they also buy into the neighborhoods where the homes are located. Nobody wants to live in a derelict neighborhood even if their home is the best in the block. Besides, the dereliction may also affect your potential buyers' sales prospects when it is their time to sell the house. Therefore, neighbors with unkempt yards, falling fences, and litter all over will make it difficult for prospective buyers to give careful consideration to your property.
Their Homes Have Been Foreclosed
Nearby home foreclosures may also affect your attempts to sell your home. This is especially true of the foreclosed property has a big sign announcing it as such and anyone visiting the neighborhood can take note of the fact. The negative effect is there because the potential buyers may fear that
- The property values in the area are tanking
- The foreclosed properties may remain unsold and vacant too long, creating an eyesore since no one will take care of them
- The area is witnessing an economic downturn
They Have Uncouth Habits
Even your neighbor's habits may determine whether prospective buyers are attracted to your home or not. For example, some buyers will not like to live next to loud neighbors, such as the type of neighbors who get home late in the night and proceed to play loud music till dawn. Even neighbors who smoke in the open may dissuade some people from living in the area.
Selling a home with a difficult neighbor is challenging, so this is one of the cases where a real estate agent's input is required. There may also be a few things you can do to limit the influence of your neighbors. For example, you can talk to your neighbor's to clean up their yards or even help them to do so.