You might be one of many people who move into your new home to find you need urgent boiler repairs in Leeds to sort out serious central heating problems, if you do not get a survey done on the property before exchanging contracts.
More than seven million homeowners in the UK do not take out a survey when purchasing real estate. This is despite the fact that 23 per cent of surveyors have had clients needing costly building work once they have moved into their new home, according to recent research from Churchill Home Insurance.
The findings revealed nine per cent of homebuyers opted against having any survey done, which may be a decision they regret later on down the line, as more than half of those who have had major repair work done said if they knew they needed to do this they would have thought twice about buying their home.
Head of Churchill Home Insurance Martin Scott said: “Only by having a qualified surveyor assess a property are prospective buyers fully informed of the true state of that property, so it is an essential part of the buying process.”
He recommended house-hunters do not rely on a mortgage valuation alone, which is what 3.6 million have done, as this is not sufficient enough. This type of assessment only investigates how much the property is worth, not its structural integrity.
It is very advantageous to have a survey done, as it could save significant amounts of money in the long-run.
Indeed, some of the most commonly found issues that come up in a survey include roof repairs, central heating problems, dampness, and subsidence.
Getting a new roof, buying a new boiler, and damp-proofing a house can be costly, while subsidence can cause significant problems in the future, especially when it comes to selling the property.
Even if no problems with the boiler show up on a survey, you might want to replace the system when you move into the home anyway. Energy Saving Trust recently revealed 60 per cent of average energy costs go towards heating bills, so it is wise to cut expenses by choosing a boiler that is far more efficient than an older model.