Building Surveys Saves Everything
Market research shows that an increasing number of first time buyers are choosing not to carry out full building surveys in an attempt to save money. According to a survey of more than 1,000 homebuyers carried out by Comres for RICS, one in five of those that opted out of a survey discovered faults at a later date. On average, the remedial work costs stand at around £5,750 with 17% of new owners spending around £12,000 to turn their properties into habitable homes.
Many buyers have come to rely on the mortgage valuation alone. A third of the sample of the buyers questioned by Comres had decided against commissioning a survey and of those, 20% were faced with faults, flaws and the expense of the repairs. Some buyers are reluctant to pay the fee for a full building survey yet when the problems with the property surface they can end up paying a much bigger price. The single payment for the survey tells you a lot about the condition of the house, but it can also help you negotiate on price.
When you buy a house the last thing you want is to be burdened with a barrage of bills for repairs, replacements and maintenance but statistics show that this is precisely what is happening. The failure to commission full surveys leads to owners with properties they cannot afford to fix and that nobody else wants to buy.
A building survey can prevent nasty surprises after you have settled into your new home. As it is a comprehensive inspection, you can be sure that the entire structure will be checked. When buying an older building, a survey is essential as there can be many concealed defects.
A survey includes an internal and external inspection of your roof, walls and foundation, floors, doors, windows and frames. All timber will be checked for woodworm and dry rot along with exterior features such as fences, boundaries, driveways and paths. Plumbing, drainage, gas and electrical systems are visually inspected but not tested. This along with environmental issues should be handled separately.
Upon completion you are issued with a complete structural assessment including details of any defects and cost-estimates. As committed chartered surveyors it is our role to ensure our clients are fully informed of the condition of properties before investing. We provide a range of specialist services including full surveys, mortgage valuations and homebuyer reports. If you need a building surveyor in Slough we can offer proficient services that will provide you with an accurate overview of the property you wish to buy.
