Subsidence is often the last word you want to hear when you’re viewing a potential new home. But do not fear, as it needn’t immediately write off a property which you have your heart set on.
It is still however, something that you need to be aware of when looking for a new home. To help you, the Geobear team have put together a list of things to consider when viewing a house:
Look out for common signs of subsidence. These include cracks in walls, sinking floors and doors and windows sticking. Visit Geobear’s Subsidence page for all the signs to look out for.
Have a full, structural survey conducted. Professional surveyors will be able to identify if the property has previously, or is currently, suffering from subsidence as well as assessing the likelihood of it occurring in the future.
Talk to the current owners. An open conversation with the people currently occupying the residence should help you to understand the extent of any subsidence issues as well as the history of any treatment the house has undergone for such a problem.
Contact insurers. Speaking to a range of property insurers will give you a feel for what an insurance quote might be like for a house susceptible to subsidence. Doing this early on will allow you to take this into consideration when financially planning for your purchase.
And here’s what to do if you think the property you’re viewing has subsidence:
Research specialist subsidence insurance. When purchasing a home with confirmed subsidence issues, you will want to invest in insurance from a provider who specialises in this kind of property. Spending a bit of time researching different options will pay off in the long run as you will be able to identify the best possible deal.
Contact a broker. After finding an insurance broker who fits all your needs, it is a good idea to contact them as soon as possible. This will help you to ensure that they are happy to cover your home before any purchase goes ahead.
Have an engineer check the property. A professional engineer will easily be able prescribe any work which needs to be carried out.
Have the cost of work deducted off the price of the house. After an engineer has recommended any work which needs carrying out, your estate agent should be able to negotiate to have the cost of these works needed taken off the proposed house price.
Consider if you might want to resell soon. If this is a long-term purchase for you and you have accepted the property’s subsidence risk then this should not matter. However, if you think you might want to resell the house in the near future then it is something you need to consider as early as possible as it is likely to affect the ease with which you will be able to do so.
So, subsidence needn’t be the end of the world when it comes to finding your dream property. However, it is something you need to be aware of as early as possible and, with the help of a team like the one here at Geobear, you will be able to enjoy many happy and safe years in your new home.
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