Buying a property will likely be the biggest individual purchase that you make during your lifetime. Whether the property is to be a family home or an investment, investigating the place thoroughly is essential for helping to establish a fuller picture of what you’re taking on. Whilst a property can be a lucrative asset and investment, it can also come with substantial liabilities that you ought to be aware of before making your decisions.
RICS research has found that 1 in 5 home buyers who did not have a full building survey carried out on their property later uncovered defects that cost £5,750 on average to put right. The research also found that 17% of buyers had to spend more than £12,000 to make their homes habitable after failing to appreciate the scale of the disrepair. You do not want to realise these costs when it’s too late to change your mind.