Property surveys is not an area that many people will have an in-depth knowledge of, which means that once this part of the process comes around, you may worry that you simply do not understand what needs to happen.
Things get a whole lot more confusing when you find out that there are a number of myths and hearsay flying around that relates to property surveys. So, what is the truth? Is there anything behind these myths that could mean that you should listen to them?
I am having a property valuation, so that means that I don’t need a survey
One of the most common misconceptions when it comes to having a property survey is that you don’t need one if you have had a valuation carried out. However, these things are not the same. A valuation is organised by and is of a benefit to the lender, which will help with the purchase of the property, all to ensure that it is worth the money that you are paying for it.
A survey, in comparison is an inspection of the property, assessing its condition and the suitability to be lived in. They are not the same thing and just because you have a valuation, that does not mean that you should miss out on a survey.
All the surveys are the same, just with a different name
Many people seem to think that all property surveys are the same, however, this really isn’t the case. There are homebuyer surveys, building surveys and also specific defect surveys too. Each one is different and each one offers something different. The survey that you choose will depend on your property, as well as your needs.
A homebuyer survey will report on the condition of your home, identifying any urgent issues that require fixing. A building survey will offer a more comprehensive look at your property and is required for major works. A specific defect survey will take a look at the specific structural issues that are in the property, offering advice on how to repair them.
Surely surveys are a waste of money
There is no denying that some surveys are expensive, however, they should never be seen as a waste of money. They are not only vital for some aspects of buying, selling or owning a home, but they are also important for ensuring that any issues can be identified, often in the early stages.
Surveys are designed to uncover issues and defects, particularly those that could cause huge issues further down the line, as well as those that could then be expensive.
There are always going to be myths when it comes to surveys for your property, however, it is down to you to decide whether or not to listen to them, and also to decide which survey is the best for you and for your property. For more information on either commercial or residential surveys contact our team.