No matter how great your property is, you cannot expect to
sell at a good price if you are surrounded by bad neighbors. Unfortunately,
everyone has them.
According to the Appraisal Institute, the largest professional
association of real estate appraisers in the country, bad neighbors can
significantly reduce the value of nearby properties by 5% to 10%.
Since home
values can be affected by external obsolescence (economic or locational factors
outside the property), homeowners should always be aware of what’s going on in
their neighborhood and be prepared to take the necessary steps to correct the
problem before it gets out of hand.
So, what should you do when you are surrounded by troublesome
neighbors? Here are some tips that you may want to consider.
·
Find
strength in numbers. Speak with your other neighbors and approach the
offending neighbor together. Make sure you get a consensus when identifying
issues before making a move.
·
Review
local laws. If you cannot convince other neighbors to complain against the
offending neighbor, review your local laws and ordinances to see if they are
committing any violations. If they are, report the issue to the code office.
·
Hire an
attorney. If none of these options work, then you may want to consider
hiring an attorney to solve the issue and avoid any potential loss in your
home’s value.
In the same manner, potential homebuyers should also be more
vigilant when looking for their next home. They should visit the neighborhood
at different times of the day to get a feel of what’s really going on in the
area, and reduce the likelihood of living near a neighbor from hell.
About me
I am a Mom and a Alpharetta, GA Realtor working with home buyers and home sellers in the Alpharetta, Cumming, Johns Creek, Milton, Mountain Park, Roswell, Duluth, Buford, Marietta, Canton and Woodstock areas.
Image by artur84 at FreeDigitalPhotos.net
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