Real estate

Is a Home Survey Necessary for a New-Build?

Most people know that they need to have a home survey done when they buy an older house. Nobody wants to complete on a house purchase only to find lots of issues that are going to leave them out of pocket. But what about if you’ve bought a new-build home? Surely there won’t be any issues there? Perhaps not…

Home Survey

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What Is a Building Survey?

Firstly, what is a building survey? Lenders will generally ask that you’ve carried out a valuation survey on any property to ensure it’s being sold for the correct market price, but they won’t necessarily insist on a full survey. A full home survey is carried out by an independent chartered surveyor, ideally a member of the Royal Institution of Chartered Surveyors (RICS). RICS members carry out more detailed work than a simple condition report or valuation survey. These surveys are thorough inspections that will alert you to any possible issues with your property.

Why Survey a New-Build?

You might think that when you’re buying a new-build home that the fact that you’re buying a modern building means you’re running fewer risks. This isn’t necessarily the case. Remember that a new-build will obviously come without any prior independently researched condition reports. It’s important to have documentation you can fall back on if issues do arise.

Home Survey

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You don’t want to risk moving into a property only to find that cowboy builders have left a range of problems for you to sort out. No one wants to move into a brand-new house to find that there are issues with the drainage or the property has structural problems and the foundation needs re-doing. If any big problems like these occur, they will cost you a lot of time and money. You might find yourself living on a building site instead of in the new home you expected.

Even though it’s not compulsory, it’s worth investing in a home survey even for your new-build home. If you don’t carry out the necessary surveys, you’re risking moving into your new home only to be faced with structural problems and a range of possible extra costs. You can avoid the pitfalls mentioned above by contacting a registered chartered surveyor to carry out a home survey before you exchange contracts. Don’t risk your dream new-build house turning out to be a surprise home from hell.