There are a whole host of benefits to getting a condition survey, but did you know that just 20% of home buyers protect their investment by commissioning a surveyor? In fact, many home buyers still assume that a valuation is all they need. However, a valuation is not a survey – it will not give you a detailed report on any defects within the property.
Just recently we spoke with a home buyer who could have been faced with a rather nasty and costly surprise had it not been for her surveyor’s keen eye.
The home buyer, Rachael from Milton Keynes, explained how she and her partner were looking to take their first step onto the housing ladder and thought they had found their ideal home – they‘d even had their offer on the property accepted.
“Getting a survey was the next sensible step for us”, Rachael told us. “We’re first time buyers, so we need all the help we can get. We ended up Googling tips for home buyers and that’s when we read about getting a survey.”
Rachael admitted that she only truly realised the value of the survey when she read the report. It showed that, not only had the surveyor identified woodworm, but he also discovered it was so bad that the door and window frames throughout the property would need replacing. With this in mind, Rachael and her partner considered this against their budget and subsequently decided not to go ahead with the purchase.
“We have never bought a property before so we would never have known what to look for,” Rachael said. “The house seemed perfect for us on the surface, but the novelty wore off when we realised the potential repair costs.
“There’s a lot of contradictory information out there. One article argues the benefits of a survey while another tells you they’re a waste of money. But I’d rather spend £400 on a survey than £150,000 on a house that’s falling apart.”