Buying a new home is a huge financial step and it is probably the biggest commitment you will make in your financial life. Buying Taunton property is a big deal. You need to make sure you know what you are signing up for. This means getting the mortgage deal right, as well as checking the details of other aspects of the purchase including the survey. With the survey you can help ensure that you get what you pay for – there are no unwanted surprises in your Taunton home purchase.
Do I Need a Survey?
When costs are high when buying a home, you may wonder if you really need to pay out even more on a survey. You do not legally have to have a survey on a Taunton property, or on any other UK property. But a home survey could save you a lot of money in the long run. It allows you to see the condition of the house before you buy, so that you can fix any problems before you go forward with the purchase. You may even be able to renegotiate the sale price to take into account any extra costs that the survey reveals. It is important to know that a survey is not the same as a property valuation.
What is the Best Type of Survey to Get?
According to a mortgage advisor taunton expert, you first need to understand the different types of survey before you figure out which one to get. The cheapest report is the Condition Report, which is the most basic. You will get this completed in around two hours. It checks the basic condition of the property as well as the services supplying the property. YOU will get basic flags on areas that are problematic. It is normally most suitable for newer homes and those that are generally in a good state of repair.
The Homebuyer Report is more involved than the Condition Report. It takes around two to three hours. You get all that is involved in the Condition Report as well as more information, although this is limited to visible defects. You will also get a professional opinion on the value of the home, an insurance figure, and a clearer summary of the problems, if any, that are associated with the property.
The Building Survey is the most expensive and the most comprehensive. It takes up to a few days to complete and it includes a thorough inspection, a thorough list of defects and any potential problems, advice on repairs, and considerations for a solicitor. This is most often necessary for an older property, or own that is undergoing change of use, or which is in a state of disrepair.