Surveys help investors buying properties with troubles – new stats

Surveys help investors buying properties with troubles – new stats


Todays other news
A popular northern city has been named the UK property...
New data from Hamptons shows a massive rise in service...
The data has been produced by high end estate agency...
Even the likes of Croydon is now seeing prime-priced property...
The call has come from the British Property Federation...


Surveys help investment buyers understand more about the properties they consider purchasing – and could save them money in the long run too.

Of those who had a survey undertaken before buying their property, some 30% took action as a result of issues flagged up, and amongst this group one in 10 renegotiated the purchase price, while 9% got the sellers to fix the problems.

This has emerged from a study by the HomeOwners Alliance which shows that almost 60% of adults who bought within the last five years say they had a RICS house survey or a new build snagging inspection. Of those who didn’t get a survey before buying their property, 11% have discovered problems with the condition since moving in and regret not having had a survey.

Having a survey enabled other buyers to get quotes for remedial work before deciding whether to go ahead with the purchase or discuss issues flagged in the report with their surveyor.

Only 4% of people who had a survey reported they pulled out of the purchase altogether, showing that in most cases having a survey done can enable a better home buying experience.

The chief executive of the HomeOwners Alliance, Paula Higgins, says: “Our research shows what a worthwhile investment having a house survey is. We recommend surveys for homebuyers as a great way of avoiding unforeseen and unpleasant surprises when it comes to moving into your new home. Save money by getting a survey so you can identify any issues and get them fixed or renegotiate the price so you aren’t out of pocket and avoid homebuyers regret.”

“We’re keen to get the message across that getting a survey is a no-brainer for buyers looking to protect their hard-earned cash. But not all surveys are the same  so it’s important to understand the different types of surveys on offer, their costs and what they cover.”

Share this article ...

Join the conversation: Login and have your say

Want to comment on this story? Our focus is on providing a platform for you to share your insights and views and we welcome contributions. All comments are screened using specialist software and may be reviewed by our editorial team before publication. Property Investor Today reserves the right to edit, withhold or delete comments that violate our guidelines, including those that harass, degrade, or intimidate others. Users who post such content may be banned from commenting.
By commenting, you agree to our Commenting Terms of Use.
Recommended for you
Related Articles
What's the difference between sale prices for cash and mortgaged...
Investors need to plan for a market where rates are...
Rising mortgage rates are affecting residential property lending more than...
House prices rising sustainably (at least until the Budget…)...
Spain’s draconian new tax is already spooking British investors...
The Budget has forced a revision of forecasts for the...
Prices and sales volumes will grow in 2025 despite the...
Recommended for you
Latest Features
A popular northern city has been named the UK property...
New data from Hamptons shows a massive rise in service...
The data has been produced by high end estate agency...
Sponsored Content
As the property industry shifts towards sustainable practices, Inspired Property...
Are you concerned about rising interest rates and their potential...
In the ever-evolving landscape of property investment, staying ahead of...

Send to a friend

In order to send this article to a friend you must first login. Click on the button below to login or sign up.

No one likes pop-ups ...
But while you're here