When buying a property you will probably think about having some kind of survey done. In most cases you will have to organise your own survey. Your mortgage company may complete a valuation. However you may wish to organise a survey as well for your own peace of mind.
So what is a survey?
According to RICS, the professional body that represents Surveyors, A Home Survey is an in-depth visual inspection of a property. At the end of inspection, the surveyor produces a report. This provides an expert account of the property’s condition and highlights any problems. If using a RICS Surveyor, the report communicates these in clear and easy to understand ‘traffic light’ ratings.
What are the options available?
There are 3 different options of home survey available, to allow you to choose which best suits your needs:
- A Home Condition Report: The simplest (and cheapest) of the options, this report describes the condition of the property. It identifies any risks and potential legal issues and highlights any urgent defects. It is most suitable for conventional or unmodified properties and new homes. These are less likely to have significant issues.
- A Home Buyers report (may include a valuation): This mid-range option is most suitable for conventional properties which are in reasonable condition. It gives more detailed information than a Home Condition Report about the current state of the property and any remedial works required or issues to be aware of. It can include a valuation for mortgage and insurance purposes (though be aware this may be done separately by your mortgage provider).
- A Building Survey: This is the most expensive option – but the most comprehensive. It is particularly useful for larger or older properties or if you are planning to do substantial work to a property. The survey provides an in-depth evaluation of the current property condition. It includes advice on any issues that need to be addressed or repairs that are required.
Why would I need one?
For most of us, property is the biggest investment we will ever make. Whether you plan to live in a property or rent it out, you still want to be aware of any potential issues before you part with your hard-earned money. A survey delivers expert advice on the condition of the property. This enables you to make an informed choice. It helps to ensure that your dream home does not become a disaster.
How can I find out more?
You can find out more about the importance of surveys and the different types available on the RICS website http://www.rics.org/uk/. Their online tool enables you to search for registered surveyors in your local area. You could also ask for recommendations from your estate agent or solicitor.
At Check 4 Houses we are passionate about supporting people through the sometimes stressful and emotional challenge of purchasing a property. We offer personal contact from start to finish. As local property experts we know the towns and cities of Fleet, Farnborough, Aldershot, Basingstoke, Camberley, Yateley and Farnham inside out. Our internet based approach means we can sell your home from just £599 or 0.5% +VAT – saving you thousands in agency fees. Please give us a call for a no obligation valuation of your home on 01252 819725 or email email@example.com.
The latest housing market report by the National Association of Estate Agents (NAEA) shows that interest in house buying is at its highest for over a decade. According to the report 439 house hunters were registered on average per NAEA member branch in June, 15% more than in May when 383 house hunters were registered per branch and the highest since August 2004 when 582 were recorded.
This increase in demand appears to be driven by a number of factors including continued low interest rates, with buyers keen to move now and secure low rate mortgage deals before interest rates rise – expected at the turn of the year. Mark Hayward, managing director, National Association of Estate Agents said: “Buyers are feeling more confident and those who put their plans on hold over the Election and political aftermath have kicked off their hunt, causing this massive jump in demand.”
The report echoes what we have seen in our local market, with demand continuing to outstrip supply. The past few months have been busier than ever, with properties being sold in record time and for record prices. Our local area of Hampshire, Berkshire and Surrey continues to be a popular place to live with excellent schools, commuter links and leisure facilities. Prices continue to rise due to high demand and low supply so you might be surprised just how much your home is now worth. Any home you are looking to buy will also have increased in value, however there are ways to save thousands in estate agency fees that can ensure more money in your new house pot and allow you to move to the home of your choice.
To take advantage of the high demand for properties we can deliver a free valuation of your home as well as sell your property from just £499 or 0.5% + VAT, giving you thousands more to spend on your new home. Simply give us a call on 01252 819725 or email us at firstname.lastname@example.org to find out more.
With just over 3 weeks to go till the general election, first time buyers and the property market as a whole remain a key campaigning issue. With political parties pledging various ways to help first time buyers and support the property market, voters are being swayed over this key economic issue.
But does the property market need help? Well despite a turbulent few years, the overall property market continues to grow and thrive, particularly in the south east and in our local areas of Hampshire, Surrey and Berkshire. Prices continue to rise as demand for housing continues to outstrip supply. Good transport links as well as exceptional green spaces and high quality educational facilities continue to make our area one of the most desirable in the country, with Hart being again voted one the most desirable place to live in the UK, and Fleet a top town to raise a family. Recent major housing developments such as Elvetham Heath in Fleet have been quickly snapped up and there is pressing demand to build even more housing in our area to cope with supply, such as the proposed up to 5,000 new homes in Winchfield.
Of course, rising prices can be great news – particularly if you are looking to downsize, or if you had a high mortgage to property value ratio. However, as a first time buyer, rising prices mean even great deposits required, and a recent report suggest that some young people are giving up on the prospect of ever being able to buy their own home . As our population ages and with high elderly care costs, multi-generational living with parents and children, or even grandparents, parents and children all living together may become more of the norm, leading to increased requirements for bungalows, properties with annexes or flexible accommodation that can be catered to different family living arrangements.
Whoever actually wins the election on May 7th and takes power, we will all be watching what happens next to find out which of their election promises – both for first time buyers and the property market and as a whole have been campaigning rhetoric, and which will actually come into force.
If you are looking to make the most of rising house prices and sell your home then why not check out our competitive packages. We can sell your home from as little as £499 or 0.5% + VAT,saving you thousands when compared to typical high street estate agents fees. Please contact us on 01252 819725 for a free valuation or drop us an email and we’ll be in touch.
The UK inflation rate has fallen to zero for the first time on record. This means that prices for goods and services are no higher than they were this time last year.
Continuing a trend from the last few months, falling oil prices and a supermarket price war have contributed to cheaper food and fuel prices – both key factors in household budgets.
Generally this means that with wages starting to rise, you could see your money going further. It also means a rise in interest rates may be further off than previously thought, resulting in more, cheaper mortgage offers available. You can read more about it here: This is Money
With more money in your pocket and the continuation of low interest rates now could be the perfect time to make your next property move. We can sell your home from as little as £499 or 0.5% + VAT saving you thousands in standard estate agency fees and giving you more to spend on your new home. Why not contact us today for a free valuation on 01252 819725.
The past six months have seen some major changes to international money markets and even our own wallets. Petrol prices at the pumps have dropped significantly and a renewed round of supermarket price cuts is leading to more disposable income for many. Yet the Greek election and European negotiations over their debt repayment plans, complete with renewed nervousness over a possible Greek exit from the Euro have led to increased uncertainty.
All this has impacted interest rates, with rates now predicted to remain lower longer than expected. In his latest Inflation Report, Bank Governor Mark Carney suggested rates will not rise until Spring 2016.
This means that mortgage rates have also been falling – particularly across five and ten year fixed rate terms. Rates are at record lows and homeowners can fix for two years at just over one per cent and up to ten years at less than three per cent. If you are not locked in to a long term deal, now may be the best time to remortgage and secure a low rate for years to come.