STONEGATE

Surveys highlight any defects that may not be immediately obvious when viewing a property. There could be hidden defects such as structural damage, wet or dry rot, and problems with the roof. These sorts of problems often get worse over time and could be an expensive problem to fix after you have moved in.

If the survey report shows that there are defects that require expensive repairs, it doesn’t necessarily mean you shouldn’t purchase the property. You can point them out to the sellers and negotiate on the asking price to reflect you having to get these repairs done yourself. By decreasing the purchase price, you will have the money to do the repairs by someone that you choose. Alternatively, you could ask the sellers to fix the issue before you complete the purchase and provide certificates/ warranties where possible.

Choosing a place to buy is one of the most expensive decisions you will ever make – so investing in the wrong house just isn’t worth it. A survey often costs less than 1% of the full price of a property and for this small cost, you can have peace of mind to find out if the place you’ve chosen is worth investing in. Getting a HomeBuyer Report (Level 2) or a Building Survey (Level 3) will identify any repairs that may be essential and could potentially save you much larger sums of money in the future.

and finally, don’t forget to ensure you choose a RICS regulated surveyor
Getting a survey from a RICS regulated firm means that you will get independent, expert advice on the property you wish to purchase. Surveyors who are members of the Royal Institution of Chartered Surveyors (RICS) must follow stringent codes of conduct and ensure high standards are maintained in the public interest. An independent RICS surveyor will help you to have all the facts about your home of choice. They will work solely for you (rather than on the lenders behalf). It is their job to uncover any visible defects that would cost you money in the future.