Buying a new property can be pretty daunting, especially if you have never done it before. After all, the choice of a new house is not as straight forward as it may seem. True, the new place should be attractive and comfortable, but inside feeling like “home” it should be structurally sound and have the potential to increase rather than decrease in value as time goes by. Buying a great property would also mean that you are giving your family something that they could cherish and in the future, would have passed on to the younger generations.
Conveyance is an integral part of buying your home – it helps ensure that your transactions go without a hitch, and that everything happens in a legal manner. A solicitor or specialist licensed in conveyance can be a big help to you, since he has specialized knowledge in the topic and can easily alert you to any problems that may arise in the course of your business. But before you negotiate the terms of your purchase, or indeed, before you decide which house to buy, it is a good idea to have a survey conducted of the property first.
Few people believe that it is important to have a survey done on a property that they are about to buy, largely because they think that the survey done for the purposes of fixing a mortgage is sufficient. However, the mortgage lender's survey is only performed to establish a monetary value for a house.
It does not tell you anything about whether the price you will be paying for the property is fair, or if the house has any structural defects you should know about. That is why you should also look into getting a homebuyer's report or a building survey.
This way, you will know everything that there is to know about the property so that you will have an idea whether you should go for it or not. This would also make you financially and emotionally ready just in case you are buying a property that has some structural defects that you are willing to repair.
If you are looking to buy a pretty conventional type of property and expect to live in it for the next couple of decades or so, a regular homebuyer's report may be sufficient. This type of survey will tell you if there are any immediate repairs or alterations that need to be done in order to make the house safe and more comfortable for you. This will also help you judge whether you should buy the house at its selling price, given any repairs or renovations you might have to make.
Meanwhile, your conveyance company will also help you get a more detailed building survey done if the conveyance involves a larger property or one that is older and in need of extensive alterations. This type of survey may cost you more since it is necessarily more detailed and thorough.