Love thy neighbour – it could be worth tens of thousands to the value of your home: Angus Raine

Love thy neighbour – it could be worth tens of thousands to the value of your home: Angus Raine
Love thy neighbour – it could be worth tens of thousands to the value of your home: Angus Raine

GUEST OBSERVER

Sound neighbourly relations and an attractive streetscape have the potential to improve the value of a property and slash days on market considerably for those vendors seeking a swift sale.

The streetscape refers to the appearance of all houses, footpaths, gardens and landscaping along a street.

But it is possible to upset the local streetscape applecart with just a single property eyesore, which has the potential to turn away buyers now and in the future.

The infamous and so-called 'hoarder’s home' in Bondi, in Sydney’s Eastern Suburbs is an example.

This is an extreme example, however it has been an issue for those living in Boonara Avenue, Bondi for many, many years, and has undoubtedly impacted the values of homes located near this controversial property.

The streetscape is the visual identity of a neighbourhood and plays an important role in facilitating interaction between residents and creating a community.

It also contributes to building the value of our properties, which for many of us, are our most important investment asset.

The property industry talks ad infinitum about the importance of presenting a property in its best light to potential sellers.

However, a subtler element is how your street presents to potential buyers. The streetscape is really the first impression for potential buyers, even before they walk through the front gate.

To be fair, individual owners can do little about the collective streetscape, but the value of a good looking street, where all the gardens are well-tended, can have an impact on the saleability of a property.

It’s worth keeping in mind that by collectively maintaining the kerbside appeal of all properties in a street, owners can maintain and grow the values of their properties.

Angus Raine is executive chairman, Raine & Horne and can be contacted here.

Tags: 
Property Value Streetscape

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