Tuesday, May 8, 2012

Neighbours, everybody needs good neighbours…

How having nice neighbours can boost your house price by £15,000

We have long been willing to pay a premium for ‘location, location, location’. But these days, house hunters would be just as happy to fork out a little extra for a good next-door neighbour. Four in ten of us would gladly pay more for a home if someone ‘trustworthy and quiet’ was living next door, a survey has found. The average premium we would be prepared to shoulder is 7 per cent – £15,321 on a typical home. But one in 30 would pay an extra 20 per cent – nearly £44,000.

Posted by sibley's b'stard child @ 02:02 PM (1650 views)
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9 thoughts on “Neighbours, everybody needs good neighbours…

  • general congreve says:

    Who’s going to lend them the extra 44k nowadays? That’s what I want to know. I say the dreamers better get used to living next door to a crack den!!!

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  • mark wadsworth says:

    This is still part of location, location, location.

    One silly argument against Land Value Tax was that nice people in nice areas would end up paying more – which they do anyway, as the article shows (in other words, so what?) – even if, on the face of it, the “services” they get are no different to another area where less nice people live. Yet again “So what?” say I. The fact that LVT is higher in areas where nice people live filters out the undesirables and indeed nice people on lower incomes who wouldn’t be able to afford to buy in the nice area, who are then at least being compensated for being excluded. And if a high earning arsehole can afford to move into a nice area and make people’s lives a misery, at least their tax bill goes down. It’s the perfect system.

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  • even nice neighbours can turn nasty

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  • Hey – the house next door to me is on the market – I must send them a commission invoice..:-)

    ~~~

    GC – What did you bet that gold wouldn’t drop below £1,000…?

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  • mark wadsworth says:

    UT, that’s the general idea, you send your neighbour an invoice and everybody sends you an invoice and so on. It’s called Land Value Tax with a Citizen’s Income.

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  • I wonder if this new concept of “having nice neighbours can boost your house price by £15,000” will show up in a full structural survey?

    My bet is that in 9 months time we’ll be reading in the press that living next door to Ray Boulger, Miles Shipside, Grant Shapps or Stuart Law could boost your property price to infinity and beyond !

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  • Believe it or not, there’s even the phenomena of a homeowner actually wanting to sell at a reduced rate to someone who is nice. Some homeowners who are selling are so nice that they think about not letting nasty neighbour-disrupting people buy their house. I experienced this a couple of times when putting in offers on houses, but these people who were selling were in no chain and not investors.

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  • It is not unknown for the opposite tactic to be employed..

    ..buying a couple of properties in a street, letting them become drug squats and then burnt out – and then start buying up all the ones around at knock-down prices..

    – Then restore the burnt out houses and ‘gentrify’ the area, before selling the others for a handsome profit..

    Nasty – but lucrative..

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  • mark wadsworth says:

    UT, yes, under current rules, that sort of tactic can pay off. Once we’ve tweaked the tax system, it will be nigh impossible.

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