Moving house and buying a property is stressful, time-consuming and hard work. However, it is also often an exciting time, especially if it is a first home or you and your family are moving into a dream home. There are many ways to help the process go as smoothly as possible, and one of the first things you can do is to arrange a property survey.
Buying a property is expensive and often the largest financial investment a person will make during their lifetime, so it makes sense to ensure that the home you are buying is worth the money. Yet many buyers decide not to commission a survey, which can end up being a costly mistake that they regret.
Value for Money
There are different levels of surveys, and which type you need will depend on what type of property you are buying and how detailed you need it to be. Checking that there are no underlying problems with the structure will reassure you that you are paying the right price for your new home.
Don’t Rely on a Valuation
Don’t assume a mortgage valuation is enough. A valuation is purely to demonstrate the property value to the mortgage company. Even if the valuation comes in lower than expected, you won’t be told the reason why. For buyers living in the Kent area, companies such as home buyers survey Kent https://www.samconveyancing.co.uk/Homebuyers-Survey/Home-Buyers-Survey-Kent offer conveyancing and building surveys, which can be arranged online via their website.
Warning
Buyers should be aware that in most cases, sellers are not legally obliged to disclose information about any property defects. Remember that you can’t always see problems, and you don’t want to move in and then be faced with a huge bill for repairs. Even the weather can cause problems for buildings.
Property Types
Although older buildings are more likely to require work and costly maintenance, new homes can also have problems. The 10-year NHBC warranty only covers the first two years and only certain defects.
Negotiate
The results of a property survey can affect the price. If the buyer is desperate to sell and the survey reveals areas that are going to be expensive to repair, this can give the buyer the opportunity to re-negotiate the price or withdraw from the deal completely.