A Building Survey is usually recommended when the new property is of unusual size, built prior to the 1950’s or if you are undertaking major renovations or large projects. If you are buying a property for investment purposes, a Building Survey will enable you to know the value of your home accurately. The Survey will not only tell you the cost of the property but will also tell you what it needs in order to be sold. However, many people are completely ignorant of the Building Survey and the importance it has to their overall property search. It is vitally important that anyone looking to buy any property should become familiar with it. Contact Sam Conveyancing the Building Survey Chelmsford experts for a full professional service.
A Building Survey will record all relevant data on the condition of the property. This information can include such things as the square footage, the number of bedrooms and bathrooms, the number of rooms and any other features such as an internal link cellar or external swimming pool. It will also contain data on any additions to the property such as garages, sheds, fences, workshops and external lighting. If there are any defects in the building or anything wrong with it, then the valuation will give a fair indication of the true value.
One of the most common uses of a building survey is when a developer wants to know the full cost of a project. If this sounds like the sort of thing you might need then you should try to find a company that specialises in structural surveys. A structural survey is undertaken after a building is completed to determine the true cost of repairing any defects. This could involve any number of things from having a professional inspect the whole building to removing some of the rubble to having a structural engineer look at it to see if any damage is needed to be repaired.
You can also use a house survey to find out what would be your market value if you sold the property. A quick perusal through a building survey will tell you the condition of the property and whether you should consider selling it or not. A survey will also tell you whether you should try and raise the equity in the mortgage to get a better deal. If you raise the equity in the mortgage the monthly repayments will need to be recalculated. If there is no mortgage and you want to start one then it is treated as if you are buying the property again.
A house survey is normally undertaken by a professional surveyor who has been trained and used to find faults in buildings. These days they are much more likely to use digital equipment to detect defects and this will usually mean that there are no major defects. Most companies will have a list of standard and recommended visual defects and these will be highlighted in blue prints so that the inspector can identify them. There will normally also be a suggested remedy and this should be discussed with the client.
