When purchasing a new home, ensuring its structural integrity is of utmost importance. A Pre-Purchase Structural Survey is a comprehensive inspection that helps identify and document potential defects or issues with the property. In this blog post, we will explore the benefits of getting a structural survey, the different types available, and why it is a wise investment before finalizing your home purchase.
The Significance of a Structural Survey:
A Pre-Purchase Structural Survey goes beyond offering peace of mind to homebuyers. It provides valuable insights into the condition of the property, empowering purchasers to make informed decisions. Surprisingly, over 60% of Irish buyers do not obtain a detailed structural survey when buying a home, leaving them vulnerable to unexpected problems down the road.
Benefits of a Structural Survey:
- Reconsidering Your Purchase:
In the event that significant issues are discovered during the survey, you have the opportunity to reassess your decision to buy the property. This knowledge can save you from potential financial and emotional stress.
- Renegotiating the House Price:
Armed with the findings of the structural survey, you can negotiate with the seller to adjust the house price to account for any necessary repairs or maintenance.
- Encouraging Seller Repairs:
Having the survey report can prompt the seller to address any identified issues before selling the property, ensuring a smoother and more transparent transaction.
- Budgeting for Repairs:
By knowing the potential repairs required, you can plan your finances accordingly and avoid unexpected expenses after moving into your new home.
Types of Structural Surveys:
It is crucial to choose a qualified surveyor for the job. Always ensure that your surveyor is experienced, registered with the Chartered Surveyors of Ireland (S.C.S.I.), has Professional Indemnity Insurance (P.I. Cover), VAT registered, and possesses a tax clearance certificate.
Type 1 Survey:
This survey involves a walk-through inspection and provides a brief summary report. It is best suited for recently constructed houses and can cost between €200-€500 based on the property’s size and location.
Type 2 Survey:
The most common choice among buyers, this survey offers a more detailed inspection, covering attic spaces, roof structure, insulation, fire prevention, drains, dampness, and boundary issues. For a typical 3-bed semi-detached house, the cost ranges from €300 to €800.
Type 3 Survey:
The most intrusive option, this survey involves lifting floorboards and drilling holes in walls to provide a comprehensive understanding of the property. Prices vary from €800 to €1500 based on location.
Considering the significant investment involved in buying a new home, obtaining a Pre-Purchase Structural Survey is a small price to pay for peace of mind and avert potential future expenses. At Ezfees Financial – Mortgage & Life Broker, we prioritize your financial dreams and provide easy-to-understand advice tailored to your unique needs. Speak to our dedicated advisors for guidance and secure your long-term financial security. Contact us at 0818 910800 or email your query to email@example.com. Let us help you achieve your homeownership goals with confidence.