Home buyers survey

Home buyers survey

Also referred to as a homebuyers report, a homebuyers survey is a very common type of survey carried out by a potential home investor on the house they’re buying for various reasons. This survey may not be as extensive and detailed as building survey but can also be carried out on several types of property. Generally, it’s more suitable for properties constructed less than 50 years ago and it’s conducted to identify many different major issues as well as defects in the property you’re about to buy.

Getting a homebuyers survey completed on the house you’re buying will go a long way to help you minimize a great amount of risk. In other words, it can help you save a lot of money. Although some of the issues that would be revealed may not be of great concern, but having all necessary information can help you better negotiate on the price as well as terms of the contract as you’ll have a better idea of the future hassle involved and total cost of buying the property.

A homebuyers survey normally covers the detailed inspection of both the internal and external parts of a property which in turn generates a report that offers an overview of the condition of the property. The person in charge of the survey will examine all the property’s visible and accessible areas and will also put into consideration your specific concerns and pay special attention to the troubled areas, which will all be addressed in the report. This report is highly recommended for potential home buyers who wish to better negotiate the price and terms of the deal and get maximum value for every penny spent.        

How can a local Home Buyers Survey installer help me?
If you’re planning to invest in a new home, a homebuyers survey will go a long way to put you in the right direction. Several home and property owners in the UK that are looking to buy a new house will prefer to carry out a homebuyers survey before they move forward. To conduct this survey, getting in touch with a professional home buyers surveyor will do you a lot of good. In this article, we’re going to consider the many different ways a home buyers surveyor can be of great help to you. Now let’s take a closer look!

A surveyor will be examining a wide range of specific areas that usually suffers common issues in most buildings. If there’s any signs of potential concern, this will be duly noted and addressed in the report for you to go through. The survey will also include a background information on both the property as well as location. Structurally, the surveyor is going to inspect the condition of the insulation and damp proofing as well as testing for any indicators of damp. In the event whereby damp is flagged in the report, you can make plans to carry out a damp survey to acquire a better understanding on the problem.

Homebuyers survey professionals will also inspect the drainage, any indicators of rot or woodworm as well as other potential threats to the structure. Any major or urgent faults that requires quick attention or may have a bad effect on the structure or property will be addressed. The report will state clearly the findings of the survey as well as the desk research undertaken by the surveyors. If you also need a valuation of the property, your surveyor will include this in the report as well.

Why should I get a Home Buyers Survey
Homebuyers survey is becoming increasingly popular across the globe for many different reasons. Not only can it better negotiate the price and terms of a home purchase contract and saving you money in the process, but it can also help you know the current valuation of the property before you proceed and many more. In this article, we’re going to look at some of the top reasons why getting a home buyers survey should be on your priority list when buying a home.

You get to save money. The survey is done to bring to your awareness any defects that may not be obvious when viewing a home or property. You may just be about to invest in a house with structural damage, roof issues or wet or dry rot. These are the sort of issues that can only get worse over time and usually, they’re not always visible when making the purchase. These issues, by the time they become obvious after purchase, are usually very expensive to fix. Carrying out a survey will help you identify these type of issues and help you save a lot of money especially on repairs.
You get to renegotiate the price of the contract. If the report identify some repairs that’ll be quite costly to make, it doesn’t necessarily imply that you shouldn’t purchase the property. You can simply point them out to the seller to renegotiate the price in such a way that would accommodate the cost of making the repairs.
Peace of mind. Buying a home is one of the most expensive purchases one can make, therefore making the wrong decision by buying the wrong house or paying more than its current value isn’t even an option. Hence, the need to carry out a survey to give yourself peace of mind.    

Things to consider before getting a Home Buyers Survey
A homebuyers survey is an inspection of the condition of a property to bring to light any defects or structural damage and it’s carried out by a professional surveyor. This enables buyers to determine whether or not the property will be a good buy. However, despite the several obvious benefits of getting a home buyers survey, it’s always wise to put some things into consideration before you proceed to ensure a smooth and quick process. In this article, we’re going to look at these important pre-survey considerations to help you make the best decision moving forward. Now let’s take a closer look!

Understand the different types of survey. It can be really helpful to prepare for a home survey by understanding the different types of main house survey and how they’re varied from a valuable inspection. We have the valuation report, condition report, building survey as well as homebuyers survey. You may need any of the four listed types, therefore you have to take your time to understand each type, before selecting which is best for your present situation.
Is it really necessary? Before you get a home buyers survey, there’s a great need to determine whether the inspection is really necessary. For instance, a house that’s just recently built with high quality materials and all parts seemingly intact and in good condition may not necessarily need a survey.
The home buyers survey professional. The accuracy of the homebuyers report will be as good as the professional carrying out the task. Therefore, there’s a huge need to carry out an in depth research on the available local surveyors, compare their prices, reviews as well as previous works before you proceed.    

Will a Home Buyers Survey save me money
If you’re planning to get home buyers survey for the house you’re looking to buy, one of the first things that comes to mind is whether or not the survey will save you some money. In this article, we’re going to look at whether the homebuyers survey is really worth it.

Firstly, one thing you should note is that it’s always worth getting a homebuyers survey or a building survey before you go ahead to buy a home or property. However, it must also be stated that this isn’t required by the law, but for your own peace of mind and best interest, you simply can’t afford to overlook it.

According to the Royal Institution of Chartered Surveyors (RICS), it was discovered that one out of 5 home buyers who didn’t have a survey carried out later found faults throughout the once after purchase which could have helped them save some money if discovered earlier. With more than 1000 buyers surveyed, the ones who didn’t have a survey done had to later incur about an average of £5,750 on repairs that they weren’t aware that existed before the purchase was made.

When you get a property survey done, all issues and potential cost would be brought to your awareness before you make any financial commitment for the house. If you feel the repair work required is too expensive, you can decide to pull out of the sale and save your money. But on the other hand, if you feel the budget for the repair work is manageable, then you can decide to renegotiate the price of the sale or simply ask the seller to get it fixed before the transaction is final.