The importance of getting your future home surveyed has never been greater. In these trying times, along with all the red tape involved in purchasing a home, it’s almost impossible to know if you are truly getting what you are paying for.
This is especially important when it comes to your property and knowing if there are issues that should be disclosed before you take the leap of purchasing a home.
Many banks used to require land surveys before purchasing land, but due to the recent financial crisis and efforts to cut what banks consider nonessential costs, the importance of getting a survey before purchasing land has been put on the back burner.
However, the importance of a land survey before you make the most important financial decision of your life has never been greater.
Why do I need a land survey?
Here are a few reasons a land survey can help prevent problems:
Possible encroachments on your potential property can become bigger issues down the road. For example, a neighbor’s fence, wall or even a building could be on the property.
A property corner could be missing.
This would be an issue if you ever plan on putting up a fence. You will need to know exactly where your property line is located. If you don’t, you could possibly build on your neighbor’s property and end up with the financial burden of having to remove and rebuild the fence in the correct location.
Possible property line or property corner disputes. A survey can reveal if there’s any property line or property corner disputes with the property.
A land survey will help protect your investment. A survey can reveal the exact property dimensions, size and location of the home on the property, as well as any other improvements on the land, such as a driveway that may be crossing a property line.
Some property owners plan on dividing their property to give to a family member or sell for profit. A land survey would let you know what regulations may affect your plans.
Many counties and cities place restrictions on dividing property; a local land surveyor will know these regulations and guide you through the process.
Some land surveyors can even represent you in county or city planning meetings to help you save time and money.
How much does a land survey cost?
Your local land surveyor will be happy to provide you with a free estimate on surveying your property. Many factors come into play when determining the cost of a survey including the type of survey you require, the type of terrain on the property, and the availability of records and monumentation.
Not all surveys will require a map once it’s done. It would reduce the cost to you if all you needed was your property lines flagged and your corners marked. So keep in mind the cost will vary if you need a map once it’s done or if you will only require the field work.