Buying a property is a big investment and you want to make sure that you have all the relevant information you need at hand. If you are buying an older property, you particularly want to know what work has been done on it and, more importantly, the amount and cost of work that will be needed in the future.
According to research, buyers who have a full building survey completed before purchase are much happier when moving into their new home, and are not met with any unseen costs of work after the sale is completed.
A home building survey is carried out by a qualified surveyor and usually takes a couple of hours to complete. The surveyor will then produce an in depth report on the property that covers all the vital elements such as the condition of the floors, walls and roof. Many buyers circumvent a full survey and just get something like a mortgage evaluation which is a lot more cursory in nature. While it costs more to carry out a full building survey it can save a lot of expense and stress in the future once you move into the property.
Advantages of a Home Building Survey
- If the property you are intending to buy has a major structural problem, it might not be easily identifiable. You need someone qualified and independent to survey the property who is able to spot issues that you will have to address if you move in.
- Many young and first time buyers will be making a large investment in a property, often pushing themselves financially to the limit. If there is a problem with the property that has not been identified this can cause considerable problems further down the line when they need to institute repairs but may not be able to find the funds.
- Having a professional home building survey that identifies any problem areas may be more expensive but it can give you valuable ammunition to negotiate a better deal on the property in the first instance.
- Many buyers don’t realise that they are within their rights to employ their own surveyor to examine a particular property. Independent advice is important if you want to avoid problems later on when the contracts have been exchanged.
- There are other surveys that you can undertake but a building survey provides a comprehensive overview of a property including the current condition, defects and potential cost of repairs and maintenance.
When to Opt for a Home Building Survey
You should be looking to have a full survey done by a professional surveyor if the property is fairly old or is in poor condition. It’s also a good idea if you have concerns after viewing or are expecting to do major refurbishments such as extensions once you move in.
If you are going to spend a good deal of money on buying a property, then it pays to make sure you are covering all the bases. A home survey costs a little but it is well worth the investment. It can save you from making a mistake in buying the wrong property, can even help you negotiate a better price and ensures that you can plan effectively for any future repairs.
For more helpful advice on selling your North East Home check out the information on www.DistriktOnline.co.uk