Life is all about opinions, differing views and alternative attitudes, and in a world where there are a huge variety of ways to air these opinions, views and attitudes, it’s more important than ever to arm ourselves with sufficient knowledge to focus on the facts and bypass the fiction. Although, this is sometimes easier said than done and lines can easily become blurred.
Interpretation is also key, as is thinking a little beyond what you might initially read or see. Take a recent story in The Times for instance. When you see a headline like ‘You have more protection when you buy £50 shoes than a £500k house’, to me at least, this immediately piques my interest. And I’m now going to dissect this piece from a surveying perspective as it raises some thought-provoking points and questions.
Firstly, and this is arguably the most important point, it’s great to see the homebuying process being discussed in the national press. Primarily, because we need to continually shine a light on a process which needs to be improved across the board, especially when it comes to offering better protection for buyers and sellers.
Emotion obviously plays a key role in any purchase or sale. The author of this particular piece has recently bought a property and clearly harbours frustrations around the homebuying process both first hand and anecdotally from friends and family. The fact that they have discovered a leaky roof following a purchase last year, complete with a ‘comprehensive survey’ appears to add further fuel to this fire.
This is not to say that the author of this piece shouldn’t feel aggrieved by having to shell out for roof repairs. It also raises the valid question of if sellers should have notified the buyer of such an issue or if they even realised it was an issue. They also suggest that ‘a structural survey is supposed to root out any big issues with a house you are buying, but in my experience they are a complete waste of time – and an expensive one at that.’ Although, it could also be telling that ‘the problem only became apparent to us after epic rainfall this month’.
Obviously, I would refute the statement that getting a survey is a waste of time and money, as I’m sure would many other people. As evident in a recent piece of research from the Homeowners Alliance which outlined that 1 in 3 homebuyers who invested in a house survey managed to save money. Of those who had a survey undertaken before buying their property, nearly a third (30%) took action as a result of issues flagged in the survey. Among this group, 10% renegotiated the purchase price, while 9% got the sellers to fix the problems.
Back to the article, this includes the comment ‘buying a house is a bonkers process at the best of times’. This might not be my particular choice of phrasing but there are still some archaic and overly onerous elements within this transaction which would clearly benefit from an overhaul.
However, as a surveyor, all we can do is to ensure that we deliver the best consumer outcome. A key element to achieving this is through the provision of comprehensive and accurate information at the earliest possible stage. This means that a properly mandated and compulsory condition report should be an integral part of the property purchasing process. This report, conducted by a qualified surveyor, provides a detailed assessment of the property's current condition, highlighting any structural issues, repairs needed, and potential future concerns.
The availability of such detailed information up-front allows potential buyers to make more informed decisions, reducing the likelihood of unexpected problems arising after purchase. Moreover, as outlined in aforementioned data, a thorough condition report can aid in negotiating a fair purchase price, reflecting the true state of the property and potentially saving the buyer significant costs in the long run. Furthermore, informed clients are less likely to face financial difficulties related to unforeseen property repairs, thereby maintaining their mortgage repayments and overall financial health.
As a homeowner, issues will always arise when it comes to ongoing maintenance or repairs and, while I fully understand the author’s frustrations, I just hope that such piece doesn’t detract from how important surveys are in the wider homebuying picture but does help pave the way for some honest and important conversations around such a complex process.
