Survey tips for first time buyers

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Buying your first property is a huge commitment and a big step in adult life. It’s likely to be the most involved and expensive purchase you’ll ever make and that’s why it’s important that you get a house survey, as it will give you insight into your investment and stop you purchasing a money pit.

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Survey tips for first time buyers

  1. 1. E.Surv UK Survey tips for first time buyers Buying your first property is a huge commitment and a big step in adult life. It’s likely to be the most involved and expensive purchase you’ll ever make and that’s why it’s important that you get a house survey, as it will give you insight into your investment and stop you purchasing a money pit. If you’re making the purchase by getting a mortgage then you’ll be requested to get a mortgage valuation through your lender’s preferred firm of chartered surveyors. This is the base level of house valuation and is not technically a survey. It is ultimately to give the lender the reassurance that a property with worth lending on. If you’re buying it outright as a cash buyer then it’s strongly suggested that you get a survey by finding a firm that can cater for your needs. They will generally offer 3 types of house survey - RICS Condition Report - RICS HomeBuyers Report - RICS Building Survey It’s dependent on the type and age of the property as to which survey you choose but it’s generally recommended that you get a homebuyer survey as it provides you with a house valuation. A building survey will also provide one but this report is only needed if your purchase is of a grade I or II listed building before 1850 or newer building that’s had extensive work to alter it. An RICS Condition Report is quite a basic inspection and does not include a house valuation. Like a lot of first time buyers, you may have opted for purchasing a new build property in the hope of acquiring a hassle free home that’s free of any problems but new builds can be troublesome. When buying a new build you generally have a 2 year warranty with the developer so before this expires you can have a new build snagging report carried out by a Chartered Surveyor who will highlight any problems and forward them onto your developer to ensure your property is up to scratch. Visit E.Surv Chartered Surveyors for a detailed understanding of the services on offer.

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