Property experts highly recommend getting a homebuyer’s report, but only approximately 20% of home buyers decide to get one done. However, avoiding a homebuyer’s report could prove to be a costly mistake, resulting in you paying too much for the property, or facing future repairs that you knew nothing about when buying the property.
- Buyers who refused a survey are facing, on average, £5,750 in repairs
Surveys highlight any defects that might not be clear when looking around a property. Hidden defects could include types of rot, roof problems and other issues that could become expensive problems to fix in the future.
Just under 20%of new homeowners who chose not to have a survey, found themselvespaying over £12,000 on average in order to make their homes habitable.
- HomeBuyers Report London can help you to renegotiate the price of the property
Should your report show hidden problems that need expensive repairs, you won’t necessarily need to look for another property. It is possible to use this information to your benefit. By pointing them out to the sellers, you could potentially achieve a nicely decreased asking price. Speak to your conveyancer for more advice. Find out more about HomeBuyers Report London, from a site like Sam Conveyancing.
- You’re making one of the most expensive purchases of your life
Choosing a property to buy is one of the most important decisions you can make – choosing to spend moneyon the wrong property just isn’t an option with so much cash on the line.
- Surveyors work on your behalf
When seeking a mortgage, the lender will instruct a surveyor to carry out a mortgage valuation. Try not to put too much weight on this valuation though. You won’t see the results of the valuation, and, on top of this, it doesn’t involve an in-depth inspection,
A valuation is mostly for the lender’s information and they are primarily designed to give them enough information to decide whether the property is safe to lend on.
It is their responsibility to find any visible defects that could prove costly in the future, and they want to help you.
A survey is a minimal investment that can rea huge benefits – as you’re embarking on one of the largest purchases of your life, deciding not to opt for the homebuyer’s survey is simply too risky.