As the housing market continues to see volatility, Legal & General Surveying Services is urging homeowners to avoid any hidden costs during a property transaction by seeking a home survey.
Newly released Legal & General Surveying Services’ data reflects the rate of UK house price growth over recent years, as properties of all types rose in value with valuations for houses growing by 22.1%, averaging from £325,595 in 2019 to £397,690 in 2022.
Given current market uncertainty, UK house price growth may become less predictable in the coming months, making a home survey more important than ever to protect homeowners against surprise costs in the future.
Paula Matthews, strategic relationship director at Legal & General Surveying Services, said: “The complexities of the housing market at the moment make it even more important for homeowners to get a survey that meets their needs.
“This allows homeowners to better understand exactly what they are buying and any additional issues that it might uncover.
“A home survey can ensure the property is the right home for the new owner and, if there are issues, these can be taken into account before the purchase is finalised.
“Purchasing a home is the biggest long-term financial commitment most people make, so buyers should take every precaution to ensure expenses don’t accumulate.
“Given the current cost of living crisis, it’s understandable that many might feel a survey is a luxury they cannot afford.
“However, paying a little money now for a survey could identify a range of potential issues that are more expensive to fix, potentially saving the homeowner thousands in the long run.”
When it comes to selecting a surveyor, Legal & General Surveying Services advises that homeowners should always choose professional surveyors, as well as using a company with surveyors based in the local area, so they have the right knowledge and are aware of the common issues that appear in typical building work based around the location.
