5 Reasons Why You Should Get A Property Survey Before Buying
Buying a property is usually the largest purchase any of us will make, so it’s sensible to ensure we have plenty of high-grade information available to inform the purchasing decision. The aim of a property survey is to provide the data needed to make a shrewd decision on your property investment. Detailed below are five good reasons why you really should get a property survey before buying.
1. Save Money
If your survey uncovers hidden problems with the property, it’s frequently possible to negotiate a lower price, based on the survey findings. Conversely, if you find out that additional investment will be needed to bring the property up to standard, if the price remains fixed it may be better to look elsewhere. Survey data gives you the facts needed to optimise your purchasing decision.
2. Keeping You Safe
Subsidence, poor air quality, asbestos, mould or lead are just some of the hazards that may lurk in a property. If not addressed, they have the potential to damage your health and that of your family. Why risk it? A high-grade building survey will identify these problems before you buy. If the survey identifies a hazard, you may choose to look elsewhere for a property or schedule appropriate remedial works before taking up occupancy.
3. Know What You’re Buying
Boundary disputes are one of the commonest causes of friction between neighbours. These disputes can often rumble on for years, causing large amounts of ill-feeling and sometimes requiring costly legal assistance to resolve. An accurate boundary survey before purchasing a property is often the best way to reduce the risk of a boundary dispute at a later date.
4. Minimise The Risk Of Unpleasant Surprises
One of the worst-case scenarios for a new homeowner is realising that they’ve invested in a property that requires significant work which wasn’t anticipated at the time of purchase. Most people simply don’t have thousands of dollars to spend on costly property remedial work which they hadn’t planned. Even if your property is insured, the policy may not cover work to resolve issues the insurer feels could have been foreseen prior to purchase.
For some unfortunate homeowners, the problems associated with a property may be so severe they need to live elsewhere until they’re resolved. A survey ensures any major issues are picked up prior to purchase. In the unlikely event that the surveyor misses something they should have picked up, homeowners also often have grounds for pursuing compensation.
5. A Powerful Aid To Budgeting And Planning
Knowing the condition of a property and what, if any, work is needed to bring it up to standard makes it much easier to budget. Finances are often particularly stretched during property acquisition – a survey gives you the data needed to make the decisions that are right for you and your family.
With so many important advantages, it’s little wonder that most prospective property owners commission a survey before going ahead with the purchase. Call ONF Surveyors to find out more about the range of property surveys available that you can take advantage of.