Do I need a survey?

[dino]

Hi,
I'm in the process of buying a 2 or 3 year old townhouse and I was wondering if I need to get a survey carried out on the house? Is it a requirement of the lender or is it just the done thing?

 

[Petal]

You have to get a valuation report for the bank, usually costs around 130 Euros. A structural survey is something you decide upon. It will give you information regarding the general state of the house, i.e. heating systems, plumbing, insulation, roof, dampness. etc.... it is usually recommended to have this carried out to avoid hidden surprises... This usually costs around 400 Euro . If you get a surveyor to do both valuations you usually get it cheaper ( I got quoted 432 for both) but you have to contract a surveyor that is on the panel of the bank, so check with the bank first if you decide to go down that route.

 

[oysterman]

That house should have 7 or 8 years left on Homebond.

I know little about Homebond, never having bought a house that new.

You should ask your solicitor.

I've had a search around AAM re Homebond and I get the impression that not everybody is convinced by it.

But it does seem crazy if purchasers of almost new houses are paying hundreds of Euro on structural surveys when the properties are bonded.

 

[Fintan]

But it does seem crazy if purchasers of almost new houses are paying hundreds of Euro on structural surveys when the properties are bonded.

True, but if something does go wrong you will be living in the house while its gets fixed, I for one don't like living in a building site.

Kind Regards

Fintan
www.HomeSnag.ie