Three Reasons To Get a Property Survey
Tackling the buying and selling property process is serious business. From extensive viewings to mortgages decisions, there’s a lot to think about. But, one of the best things you can consider doing is having a property survey done on your new home. Although a survey may just seem like an added expense to a long and hefty list of property expenses, it makes good sense and could stop you from making a poor decision. Only 20% of home buyers decide to have a survey performed on their property - here are three important reasons as to why you should:
A new house is the biggest purchase of your life - because of this, there is a lot of risk involved. Questions like “is this house actually right for me?” will be buzzing around your head causing doubt. A property survey can help counteract this doubt and offer peace of mind. By highlighting any property defects, a survey can identify any problems with a building, from unstable walls to rising damp. To ensure you’re getting value for money and that you’re moving into somewhere that isn’t at risk, consider a property survey today.
By highlighting any problems, a survey can reveal the damage that will need to be fixed up when moving in. From wet or dry rot to roof damage, some issues might be particularly expensive and problematic to repair. The bad news is that these problems will only get worse if you choose to live with it. According to RICS (Royal Institution of Chartered Surveyors), a buyer can be faced with, on average, £5,750 worth of repair costs that they didn’t know about until after moving in. Worse than that, 17% of new homeowners end up paying more than £12,000!
What do you do after receiving these sort of results from your survey? The good news is, you do have the option of negotiation.
Whether it’s in the perfect location or you’ve fallen in love with the architecture, you might feel like the property you’ve surveyed is still right for you, despite the unwelcome survey results. You may be ready to love it unconditionally, but having a survey done can mean you can attempt to renegotiate the price of the property. For example, if the repairs of the property are looking to reach £5,000, you should be able to negotiate the price down to take off some of this amount at least, if not all!
A property survey can help you make an informed decision about the property you’re planning to buy. At Simon Levy , we understand how significant the home buying process is are and are here to help. As expert chartered building surveyors, we can perform professional and comprehensive building surveys to those that need it. So, if you’re looking to buy your first home or relocate to a different city, contact us today.
