Surveys can help save thousands, says expert
INVESTING in a new home can be a complicated business, according to Jason McComiskey, home improvement expert at Evander. His advice is to prioritise.
He said: “My number one tip for first-time buyers is to invest in a professional property survey. Only 20 per cent of buyers do this, despite the fact that they can help you to avoid plenty of stress and further expense down the line.
“‘Unfortunately, you don’t have the same consumer rights when purchasing a home as you do when buying a product from a shop.
“The onus is on you to check you’re happy with the property’s condition before signing on the dotted line, so it’s really important to protect yourself.
“With many new buyers under the misconception that a house survey is a mortgage valuation, it is also crucial to double check which reports are being carried out on the property you are looking to buy.”
Jason added: “Surveys cost around £250 to £600 depending on the level of investigation, but can help you save thousands on problems like structural damage and damp.
“Discovering an issue gives you ammunition to haggle down the asking price – or you might decide to abandon the purchase. Either way, it’s best to be informed.”
So where to begin? Choosing a surveyor who is accredited by the Royal Institute of Chartered Surveyors (RICS) is a good start.
During a RICS home survey, the surveyor will produce an expert report on the property’s condition and highlight any problems.
The surveyor’s job is to take some of the weight, whether first-time buying or moving home, off your shoulders.
But remember, different properties do require different surveys, with RICS offering three main types.
The Condition Report is for conventional properties and newer homes, the Homebuyer Survey is for properties built within the last 100 years or for some even older properties or a Building Survey which is for period or larger properties.