RICS Findings Highlight Importance of Conducting Property Surveys
When thinking of purchasing a new house, it's very important to ensure that the home you're interested in has been properly surveyed.
A home can be deceptive, as, on the surface, everything can look fine, but there may be underlying problems with the home that an expert will soon spot. The Royal Institution of Chartered Surveyors (RICS) recently undertook some research that revealed how much it can cost to buy a home without having it thoroughly checked first.
The RICS research discovered that, on average, £5,750 was being paid on repair bills by home buyers who didn't employ the services of a surveyor first. Typical problems home buyers can experience, when they buy a property without having it surveyed first, are rot, structural defects and subsidence.
RICS's Peter Bolton King says that "a general lack of understanding" of what buying a home involved was resulting in people putting themselves at risk - simply because they were not making use of independent advice from experts. Mr. King stated that, though estate agents should offer potential buyers advice, it was only trained surveyors who would be able to identify real problems with a property.
It is young and first time buyers who are the most likely to be affected by problems with their new home because they are also the least inclined to pay for a surveyor's services. Due to the financial issues, this group often struggle to progress up the property ladder, so will look at ways of reducing their financial outlay when looking for a new home. Mr. King added that buying a property without using a surveyor could be a grave mistake financially, and that it could be a property that later becomes impossible to sell.
We at Kutner Associates offer peace of mind when it comes to buying your home. With over 17 years of experience in the surveying industry, our team of Chartered Surveyors in London are equipped to help clients with Building Surveys on both domestic and commercial properties in the capital, whilst Homebuyer Reports and Valuations are also included. We are a company that offers high standards to clients, and the areas of London we operate in include Westminster, Mayfair and Regents Park. We are RICS registered so please call us today on 0207 722 6904 for more information or browse our website where you can find out more on what we have to offer.