Surveying is a topic that most people only have a basic knowledge of, but there are so many important tips and truths that can help you to get a great deal on your surveying, and ensure that the house you buy is a good investment.
1. A survey can save you money
You may think you don’t really need a survey done but in the long run a survey can save you a great deal of money. Imagine if you went ahead with the purchase of a house and later found out that the roof needs replacing. If you’d have just paid out a few hundred for a survey, you could have avoided tens of thousands of pounds on the new roof!
2. But price isn’t everything
While we’re on the topic of money, it’s important to remember that price isn’t everything. You could scrimp and save on the cheapest surveyor you can find, but this might prove to be a false economy. Make sure that your surveyor is experienced, reputable and offers fixed fees before you base your entire decision on the price – it will save you money in the long run.
2. Local surveyors aren’t always better
While a good local surveyor will have extra knowledge about the area, location shouldn’t be your number one choice. If it comes down to good reviews or locality, you should always choose good reviews and experience over where the surveyor is based. After all, it matters less where your house is built and more how it’s been built.
3. Always choose your own surveyor
Your estate agent may recommend their own surveyor and conveyancer, but these packages always come with heavy premiums on top. The estate agent will receive several hundred pounds as a referral fee and that will be passed onto you, making your bill more than if you’d just taken a few minutes to find your own surveyor online.
4. There are several types of survey
There’s no one size fits all survey and you’ll have to choose what level of surveying you want done. The main three types of survey that exist are: The Property Valuation, The Homebuyers Report and The RICS Level 3 Survey. You can find out more about each of them here.
5. Your mortgage lender’s survey is not enough
The one thing you should remember is that the compulsory survey that your mortgage lender provides (The Property Valuation) is never enough and is only designed to tell the bank if the house is worth the investment or not. It doesn’t look into the structure or defects of the house, and it won’t protect you from buying a property with expensive faults. For that you will need a Homebuyers Report or a RICS Level 3 Survey.
If you would like to find out more about our surveying services, feel free to call us on 0800 022 4428 for a free, no obligation quote.