Steve Holmes (FRICS) recently spoke to Patrick Gardner about the long term financial benefits of building surveys, particularly when considering alterations and extensions to your new home.
According to RICS research around 1 in 5 home-buyers rely on just a basic mortgage valuation and get caught out with expensive repair bills once they move in, something we highlighted in this recent post
Steve uses his first home as a prime example of some, if not most of the the pitfalls that can catch out unprepared home buyers. He goes on to explain how having sound knowledge of a properties condition and what sort of budget is required to rectify any issues, is a great negotiation tool when it comes to agreeing the final purchase price.
The golden rule is don’t save a £1,000 on a survey when potential repair bills can run into £10,000+