What is a building survey?
A building survey is an in depth inspection of a property and will provide a detailed evaluation of a property’s condition. A building survey is typically carried out when moving house to make the buying party aware of any potential issues. Some issues can be incredibly costly and time consuming to repair so it is ideal to be aware of these problems prior to committing to a purchase.
Traditionally household insurers will offer surveys as part of the insurance policy and free of charge. This can either be done in person or via a desktop analysis. Once surveyed, most insurers will then provide additional cover called ‘Extended Replacement’. This means your insurer pays for your home to be rebuilt or repaired to its current condition even if the loss amount is above your policy coverage.
What types of issues can a building survey spot?
A building survey can uncover all manner of issues including common problems you would expect in any house through to more serious, and costly, complications. Examples of some potential issues include:
- Damp (rising or penetrating)
- Dry rot
- Wood worm
- Lack of insulation
- Breach of building regulations
- Electrical issues
Whilst your building surveyor may identify some of these issues, they will often recommend that you speak to a specialist in that particular area to establish the potential extent of damage and repair costs. Don’t do guess work!
In some cases, house buyers try to estimate the problems with a property before buying to save costs. This is never a good idea as more often than not, you will end up paying more for various repairs to the building over time. The results of a building survey may massively impact your decision in buying your next home so we would always recommend you have a survey carried out.
How can Hayes Parsons Insurance Brokers help?
Our Private Client expert, Dan Hart, has over 15 years of experience working with building surveyors and clients and would be delighted to share his knowledge and expertise with you. Get in touch with Dan using the contact details below.