7 Million Homebuyers Do Not Have Survey Before Moving In

As many as seven million homebuyers are putting their finances at risk by purchasing a property without having a survey completed first to ascertain whether there are any physical or even structural problems with the home.

According to Churchill Home Insurance, nine per cent of homebuyers did not have any survey carried out in the last 12 months.

They are therefore opening themselves up to having to pay for expensive repair work once they receive the keys.

Indeed, the most common problems detected in a building survey are issues with the roof, damp and subsidence. Therefore, it is likely tradesmen may be required to use steel reinforcement mesh to repair damage to the roof after you have moved in.

Head of Churchill Home Insurance Martin Scott said: “Only by having a qualified surveyor assess a property are prospective buyers fully informed of the true state of the property, so it is an essential part of the buying process.”

The survey found 42 per cent of people needed unexpected repairs doing to their home within a year of moving in.

Moreover, 56 per cent of homebuyers who have had major building work on their property said having known about the state of the house first would have influenced their decision to go ahead with the purchase.

While building surveys can reveal important problems with the construction, many homeowners choose to spend the majority of their cash improving the interior of their home.

According to Lloyds Bank Insurance’s Britain at Home report, Brits spend £3,579 a year on the inside of their house, compared with just £250 a year on the outside of their property, which is the case for more than half of homeowners.