Why a home survey could be the best investment you make

When you’re buying a home, you want to make the process as seamless as possible and with so many things to consider, from finding your perfect property, to moving in day, a home survey is often something that can get forgotten about, however it’s one of the best investments you can make and can save you a significant amount of time and money as well as giving you additional peace of mind.

What is a home survey?

A RICS home survey or homebuyer report as it is often referred to, is a detailed in-depth visual inspection of a property conducted by a RICS professional. The report provides an expert account of a property’s condition and highlights any problems in clear and easy to understand ‘traffic light’ ratings.

Who carries out the survey?

A qualified surveyor carries out the home survey; here at Marwood Surveyors we are all member of RICS (Royal Institute of Chartered Surveyors) meaning we carry professional indemnity insurance and are regulated by the institution. We pride ourselves on bringing our clients a trusted, experience and qualified service each and every time.

What are the benefits a having a survey?

Whilst a home survey is optional, the benefits of investing in one can’t be ignored. Research conducted by ComRes for RICS, involving more than one thousand buyers demonstrated that 1 in 5 of those who did not take out a survey later uncovered faults, with remedial work costing an average of £5,750. RICS also noted that 17% of new homeowners ended up paying more than £12,000 to make their homes habitable.

At Marwood Surveyors, we highlight any urgent matters and draw attention to anything we believe your solicitor should look into on your behalf. This could mean you renegotiating on price if costly maintenance work is required so that there are no unexpected surprised further down the line.

Sophie Bullock, Director at Marwood Surveyors and winner of the RICS Young Surveyor of The Year award 2017 commented, ‘Today many home buyers rely on their mortgage provider’s valuation as their personal ‘survey’, however this is a growing problem and the result of family budgets coming under pressure time and time again. Valuations do not include a full property inspection and are not undertaken to look for any maintenance issues. Valuations are frequently conducted from a desk miles away or sometimes even after a quick drive past the property. A home is the most expensive purchase a buyer will ever make and based on the average national house price, a home buyers report will cost less than 0.5% of your purchase price yet it could save you tens of thousands of pounds in repairs and maintenance fees based on the findings from the report. Most importantly, for many, it will bring piece of mind ’.

To get a quote and book your home survey with us at Marwood Surveyors, please call the team on 0121 546 0393, or alternatively, fill out the form on our contact page.

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