A Property Survey Explained…
When buying a property you will hear property surveys being mentioned and be told that it is important to schedule one before buying a property. Most people buying their first home have little or no idea why this survey is important. This is understandable as buying a property is something that doesn’t happen very often!
This article will give you some information in simple terms that will help you understand what a property survey is AND why it is recommended that you get one.
Property Surveys are referred to by many different names. You will hear them given titles such as Pre-Purchase Structural Survey, House Survey, Home Survey, Structural Survey etc. however they are essentially all the same product.
Who needs one?
If you are buying a property you are strongly recommended to book a property survey. Whether this is the first property you have ever purchased or the second or third, a property survey should always be included in your list of to-do’s before signing on the dotted line.
If you are selling your home, you can also get a property survey on your own property before putting it on the market.
What is a property survey?
A property survey is a visual examination of the structure of the property from the foundation to the roof. It is just like a health check of the property. Accessible concealed areas such as the roof space and underfloor areas will be inspected too, where it is safe to do so. The inspection and report will identify and bring to your attention structural defects in the property that would otherwise remain unknown and unidentified.
Property surveys should always be carried out by a qualified Building Engineer or Building Surveyor. Property Health Check Structural Surveys are carried out by our own in-house highly trained and experienced Structural Engineers.
The important thing about getting a property survey that is performed by a qualified professional who is trained to identify structural defects that an untrained person would miss.
A detailed report outlining the findings of the inspection is emailed to you. It will include annotated photos as we know this helps our clients to better understand the advise and explanations in the survey.
It is really important that you properly understand the survey findings and are clear about the information and advice provided. Once you have had a chance to read your report it is a great idea to have a chat with the Engineer about anything you need clarifying. Then you will have a good understanding of the properties structure and what your next steps are in the purchase.
Securing your investment
Peace of mind is invaluable when you are making the biggest purchase of your life. A detailed structural survey will give you that peace of mind, and is worth every penny spend on it.
Purchasing a property requires significantly more money than when buying a car. Most people wouldn’t consider buying a second hand car without getting it checked for issues by a qualified mechanic. Why then would anyone consider buying a property without having it checked by an expert for structural issues?
If the building survey shows little wrong with the home, you will be able to move into your new property worry-free. If the structural survey finds more serious problems, then the money invested in your building survey could end up saving you many thousands of euros!
Just to give an example; the cost of repairing an attic conversion can cost well over €12,000. If a survey identifies problems with the attic, at least you will know of this additional cost before you close the sale on your property. You will be saved from an unpleasant surprise and unwanted expense after the sale.
So you can see the power of a property survey. It really does give you peace of mind and helps you to make an informed decision!
If you would like to find out more call us or get a free online quote.
Some useful information can also be found in the Society of Chartered Surveyors Ireland.