There are many myths and misconceptions surrounding property surveys. We bust the most common ones so you can make your decision based on facts, not fear.
Myth #1
The reality:
A valuation will tell you the property's worth, but a survey can highlight issues with the property, along with a lot of other important information. A mortgage valuation is carried out for the lender's benefit — not yours. It won't tell you about damp, structural movement, roof defects, or any of the things that could end up costing you thousands.
Myth #2
The reality:
If issues are uncovered during the survey, you can get repair quotes and choose to make an informed decision or discuss the asking price. Most surveys do identify some issues — that's the whole point. Knowledge is power, and being aware of problems puts you in a stronger negotiating position rather than walking away.
Myth #3
The reality:
Think of a survey as an investment. A survey can give you peace of mind knowing that there are no nasty surprises waiting to be discovered at a later date that could cost you a fortune in repairs! The cost of a survey is typically a fraction of 1% of the property price — far less than even a minor repair bill.
We're always happy to chat through your options — no pressure, no obligation.
