Why you need a property survey

Posted on:October 17, 2021

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Buying a house is a major investment and can be a stressful experience. It can be difficult to find the house you want at the right budget and additional costs can soon add up, making it easy to wonder whether it is necessary to have a property survey.

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Potential problems

You may think you have found the perfect house. It meets your criteria and you are happy to make an offer of the asking price; however, there are many things that could be a problem with a house, including the boiler or roof being in a bad state, problems with damp, or structural problems that would not be obvious to the casual looker. Older houses may have asbestos, which presents a safety hazard and would need to be sorted.

Haggling

You should arrange a property survey to identify any problems. The findings could affect your buying decision if problems need to be addressed that you feel you would be unable to sort. A good property survey also enables you to haggle on the offer price; for example, if the survey identifies major problems that need to be resolved, you can get these costed and negotiate. The seller has to consider that any future buyers will have the same problem.

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Mortgage valuation

Your mortgage lender may arrange a house valuation when you buy the house. These are sometimes called valuation surveys, but don’t be tempted to think that this will be sufficient to identify problems. The types of surveys that can be completed are priced according to the level of investigation you want to be carried out, which can depend on the age and size of the house. For a bigger, older property, money spent on a thorough survey will be money well spent to receive a detailed report on the structure, wiring, plumbing, roof and heating.

If you would like to understand more about the types of survey available, Which? has information on what is involved and the potential cost.

For those who are looking to arrange a home buyers survey Nottingham offers a range of surveyors from which to choose. It is easy to arrange a survey online; for example, those looking for a home buyers survey Nottingham can leave their details online and receive a quote for the type of survey they are looking for.

If you are looking for someone with good local knowledge to provide a home buyers survey Nottingham has a range of qualified experts who will be able to deal with your request.

Try to arrange the most detailed survey possible within your budget so that you can identify any potential problems before committing yourself to a property purchase.