Reduced value if House next door abandoned

seven-day-weekend

When we lived in Spain, our house was joined on to a derelict abandoned property.

We found that the state of that property seriously compromised ours. For example, the rain coming in through the roof and damaging the structure of that one, meant it put ours in danger too. My husband mended the roof of the abandoned one to stop it getting worse.

No way would I again buy a house adjoined to one as you describe, at any price.

Gwendo40

I'm another who wouldn't buy a house attached to an empty and neglected property at any price.

My main concern would be water penetration and damp issues.

Mickygg

I wouldn’t touch. There could be really bad cases of damp on the adjoining wall, and who want to live next to a permanent untidy garden?

Also could squatters take over? A bit extreme I know but I wouldn’t take it on with all the potential risks. I have no idea but could it affect insurance? Surely a higher chance of shared wall being damaged through leak/ damp etc.

Nope from me.

Davesnave

It's like any other high risk investment. The question is not whether we would buy, but at what level would it need to be offered for someone less cautious with a long view to take a punt?

On reflection, I think my estimate of around 15-20% below is too low, but 40% is too high, given that it's rare for houses to reach a state where they fall down and take the neighbours with them. Even the Ilfracombe house filled with tonnes of pigeon poo didn't do that:

https://www.bbc.co.uk/news/uk-england-devon-47803385


Most of the applause mentioned at the end was probably from neighbours! :rotfl:

warby68

If I understand correctly, OP is trying to put a value on a similar property not affected by an abandoned neighbouring plot based on the selling price of one with the mess next door.

Too difficult a comparison to be useful is my view.

Try not to offend the vendors of the other property either by openly comparing the two

getmore4less

There is the potential to capture abandoned places.

If the seller of the other semi did not bother(or failed) starting from scratch on a place that has been empty for 20years already is far more risky.

Simby

If I read correctly the house beside the abandoned property sold for xx amount ( I am not clear if 140-150k is what the one attached to the abandoned property sold for or if it’s the average for the area)

They want to value an identical property without the issue of the abandoned property. Not sure for what purpose maybe to make an offer?

If the average for the area is 140-150k op, what is the property on the market for? Even if the one you are comparing to sold for a knock down prices it’s unlikely the vendors of a property that does not face the same issues will take a reduction to give you a bargain if other properties are selling for 140-150k

If you gave us links to the property you are looking at then we could help more