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Noisy neighbours scare off would-be buyers

Noisy neighbours scare off would-be buyers

Category: Mortgages

Updated: 22/08/2013
First Published: 19/08/2013

This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

When it comes to purchasing a new home, prospective buyers are most put off by factors beyond the seller's control, according to new research.

Over half (55%) of those surveyed by mortgage and secured loan broker Ocean Finance said that 'neighbours from hell' is the single most off putting factor when deciding whether or not to buy a house.

Other major deterrents for prospective buyers included obvious issues such as mouldy rooms, the property being in a poor state of repair, and no central heating or double glazing.

Meanwhile, the research shows that when it comes to what can be fixed easily, prospective buyers are reasonably savvy, with just 4% saying they'd be put off by an overgrown or neglected garden, while over a quarter (28%) would be deterred by an untidy garden next door, which is beyond their control.

Age is a big factor as well, with those aged 18-34 around half (35%) as likely to be put off by noisy neighbours compared with 65% of people over 65.

However, older generations seemed to be more willing to put up with a cold home, with 25% of those aged 55-64 and 25% of those aged 65 prepared to buy a property with no central heating compared to 36% of 25-34 year olds.

They are also half as likely (10% for both 55-64s and 65+) to be bothered by the fact that a house has no double glazing (the figure for both 18-24s and 25-34s is 21%).

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