The real value of a survey
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The real value of a survey
Nobody wants to pay too much for their home. During the home buying process, there are many causes of stress. Making sure you don’t overpay doesn’t need to be one. That’s because getting the right survey can give you peace of mind that you are paying a fair price.
What is a survey?
A survey is a detailed report which helps make potential buyers aware of any present issues or problems which may occur in the future.
This can help with budgeting for any works required and help you renegotiate if there are any major concerns. Remember: a survey is not a valuation; it is a tool to help homebuyers make informed decisions.
Surveys crucial in turbulent times
House prices have been unpredictable in the last year. In times of economic uncertainty, surveys become even more important. When house prices have fallen, a survey can help clarify what represents real value.
Value means something different to different people. For example, over two fifths would pay more for a property with a high EPC rating, research reveals1. This shows that getting the price right is personal. A survey is designed to help you do just that.
More than simply one more cost
Buying a home can feel like an accumulation of costs – a survey can feel like one more among many. That’s why it is important to factor in the survey as early in the buying process as possible.
1Uswitch, 2023
As a mortgage is secured against your home or property, it could be repossessed if you do not keep up mortgage repayments
It is important to take professional advice before making any decision relating to your personal finances. Information within this document is based on our current understanding and can be subject to change without notice and the accuracy and completeness of the information cannot be guaranteed. It does not provide individual tailored investment advice and is for guidance only. Some rules may vary in different parts of the UK. We cannot assume legal liability for any errors or omissions it might contain. Levels and bases of, and reliefs from, taxation are those currently applying or proposed and are subject to change; their value depends on the individual circumstances of the investor. No part of this document may be reproduced in any manner without prior permission.
The value of investments can go down as well as up and you may not get back the full amount you invested. The past is not a guide to future performance and past performance may not necessarily be repeated. If you withdraw from an investment in the early years, you may not get back the full amount you invested. Changes in the rates of exchange may have an adverse effect on the value or price of an investment in sterling terms if it is denominated in a foreign currency.
Information is based on our understanding of taxation legislation and regulations. Any levels and bases of, and reliefs from, taxation are subject to change.
Tax treatment is based on individual circumstances and may be subject to change in the future.
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