6 Reasons Why You Need to Have Your Property Surveyed

| October 24, 2017

A property survey isn’t just valuable when you’re buying and selling a property, it’s an opportunity for a detailed report about everything that affects your house, or the one you’re considering buying. It’s only when a property is surveyed professionally that vital information surrounding the house and the land it sits on can be revealed. Many buyers and first-time investors skip on these property surveys in an effort to save money – but the benefits of having access to such information can prevent costly issues down the track.

Homeowners and first-time investors can be fooled into thinking that building guarantees are warranties. And even if they were warranties, it’s only major and minor building defects that will be covered in the first two years. Anything outside of that usually has to come out of your wallet. Thus, property surveys are paramount. Here are a few top reasons why you would need to have your property surveyed:

1. To Protect Your Investment

No smart person wants to throw their hard-earned achievements down the drain. And buying a house – whether it’s your first or your fifth, is an achievement. Protect it. Without an extensive investigation into your property and its land, you’re more at risk of running into problems and disputes later. And no one has the time or money for that.

If you’re considering buying a property, you want to know everything about it first. A property survey will give you a better understanding of what you’re dealing with before you commit to the purchase. Boundary lines will be clearly outlined and the block size and property description will all be clearly identified.

2. Before Building on or Improving Your Land

If the latest DIY renovation TV shows have inspired you to tackle your own home, then you’ll need to get the property surveyed. Building a shed, paving a driveway, constructing a fence or putting any other permanent structure on your property requires accurate knowledge of exactly where your land begins and ends. Because a property survey clearly outlines the size and boundary lines of your land, it’s the only way to be assured you’re not fencing out or building on any land that isn’t yours. It’s important that all boundary lines be clearly identified before any construction starts to avoid costly disputes.

3. To Eliminate Boundary Line Disputes

It goes without saying then, that any issues with the boundary lines can be eliminated by a property survey report. As the property owner or investor, it’s imperative you have accurate and up-to-date information about where these boundary lines are.

Boundary line disputes can occur from even the smallest, most harmless action. Have you ever been in a situation where your neighbour insists on cutting the branches off your tree because it’s hanging over their yard? It’s a common occurrence. Property surveys don’t just protect your boundary line disputes when it comes to building, but also in situations like these. Minor modifications to either property can end in potentially destructive problems between both parties. Making sure your armed with the latest information about what you own and what they own can save a lot of drama.

4. To Guarantee the Land is as Described

If you’re investing money into a new home – whether it’s to live in yourself or rent out, you want to make sure you’re getting what you pay for. The land on the plan is not always the same shown on the title, and fences are not always erected where they should be. This is why it’s vital to obtain a property survey before committing to the purchase. Detailed property surveys will provide you with a legal document to guarantee the land and everything on it is as described. This graphical representation of the property gives you a better understanding of what is included in the price, and whether there are any disputes about the boundaries that need to be resolved or agreed upon before buying. This information is also essential come resell time.

5. To Determine Whether You Can Subdivide

Some land/house purchases can offer the perfect opportunity to subdivide. And the first step for a successful subdivision project is to gather all the right information about your property and relevant permits. Subdividing comes with many benefits and is common for homeowners wanting to divide the space to set up family or rent / sell for profit. Because the regulations surrounding subdivision can vary between cities and councils, investing in a detailed property survey will outline everything you need to know and what actionable steps can be taken to move forward.

6. If the Current Property Survey is Old

Old property surveys don’t hold much value. Lenders and insurers will generally only accept a property survey if it has been conducted in the last 6 months. Property surveys that are recent will show the latest modifications and additions made to the property, as well as outline any new disputes or issues to be aware of. Taking out a recent property survey will ensure you have access to the latest information and give everyone involved in the purchase/sale a clear picture of the land.

Despite property surveys seeming like an additional cost burden, it’s well worth the time, effort and money to get one professionally completed. Engaging with a licensed surveyor will help to secure your property investment, and can potentially save you thousands of dollars down the track.

Author Bio:

This article is written by Jayde Ferguson, who writes for Veris – national surveying professionals that specialise in property surveys, urban design and town planning. Catch Jayde on Google+.

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Category: Property, Property Market

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