13-06-2007
Neighbour's property may affect homebuyer's choice
The condition of a next-door-neighbour's property may affect the decision of a would-be homebuyer, it has emerged.
According to the results of a study by Legal & General Insurance, 89 per cent of respondents confirmed that the visible condition of a neighbour's home would affect their decision on whether to purchase a nearby property.
"Property is one of the major investments we make and with more people struggling to get on the property ladder, the research would indicate that we are still very fussy about where we want to live," said Ruth Wilkins, head of communications at Legal & General Insurance.
"People are reviewing wider issues than just the property itself when deciding that a new home is the right one for them," she added.
The survey's findings were based upon the responses of over 4,000 adults, which also found that a majority (55 per cent) of young professional would-be homeowners would not purchase a property if the neighbour's windows were damaged or broken.
If you're looking to buy a property to rent out, Simply Business offers instant, impartial online buy-to-let mortgage quotes from leading providers, and low cost landlord insurance.