16th January 2024

Purchasing a property, for most people, is likely to be the largest and most important transaction they will ever be involved in yet, surprisingly, a majority of buyers are still willing to take the risk of not having any form of survey on the property they are purchasing. Research by The Royal Institution of Chartered Surveyors (RICS) shows that buyers, who didn’t have a survey, spent, on average, £5,750 on hidden repairs that weren’t apparent during the viewing and purchasing process.

Examples of potential defects and their costs are:

Damp proofing – A very common problem in properties of all ages leading to internal condensation and mould, with repairs costing on average £60 to £70 per square meter.

Roof repairs – One of the most difficult elements of a building to see, with faults possibly leading to costly internal damage. Small section tile replacements are likely to only cost £100’s, but a full roof retile is likely to cost in the region £6000, due to the requirement of scaffolding.

Japanese Knotweed – This invasive plant has the ability to grow up to 30cm a day, with roots that are capable of growing through concrete. The presence of this plant can reduce the value of a property dramatically if not potentially making it unsaleable. It costs between £2,000 and £3,000 to remove a small patch of Japanese Knotweed.

Subsidence – With a wide range of culprits including tree roots, drains and foundation failure, it is important to locate the problem and resolve it, before a property is condemned. The average property underpinning costs in the region of £12,000… A costly mistake to miss!

It is, of course, not only structural issues that can affect a property. Legal problems, including rights of way, planning permissions, and building regulations sign-off are, sometimes, only visible on a property visit, and can have negative effects on a property’s value.

Acquiring the services of a RICS-accredited surveyor not only provides buyers with a professional perspective of the property’s condition, it also assists the purchasing solicitors in finding potential legal defects relating to the property.

The number of property owners arranging surveys on their property, prior to marketing, is increasing, as it allows for structural/maintenance issues to be resolved before the property is listed, leading to a quicker and higher valued sale.

If you are interested in receiving a no obligation quote, please contact our surveying team on 01743 791 336, or email mail@rogerparry.net.

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