When you're buying a home, there are a lot of things to consider. One of the questions that may come up is whether you need to have a survey done. A survey is a detailed map of a property that shows its boundaries, any easements or right-of-ways, and other important information. In this article, we'll explore whether you need a survey when buying a home.
What is a Survey?
A survey is a detailed map of a property that shows the boundaries of the property, any easements or right-of-ways, and other important information. Surveys are typically conducted by licensed surveyors who use specialized equipment to measure and map the property.
Why Get a Survey?
There are several reasons why you may want to get a survey when buying a home. A survey can help you determine the exact boundaries of the property and ensure that there are no encroachments from neighboring properties. It can also identify any easements or right-of-ways that may affect your use of the property.
Do You Need a Survey When Buying a Home?
Whether you need a survey when buying a home depends on several factors, including the age of the property, the location, and whether you're getting a mortgage. In some cases, a survey may be required by your lender or by local regulations.
Older Properties
If you're buying an older property, a survey can be particularly useful. Over time, property boundaries can become unclear, and the location of easements and right-of-ways can change. A survey can help you determine the exact boundaries of the property and ensure that there are no encroachments from neighboring properties.
Properties in Rural Areas
If you're buying a property in a rural area, a survey may be particularly important. In rural areas, property boundaries can be less clear, and there may be a greater likelihood of encroachments from neighboring properties. A survey can help you ensure that you're getting the full extent of the property you're buying.
Mortgage Requirements
If you're getting a mortgage to buy your home, your lender may require a survey as part of the loan approval process. The lender may want to ensure that the property boundaries are clear and that there are no encroachments that could affect the value of the property.
Conclusion
While you may not always need a survey when buying a home, it can be a useful tool to ensure that you're getting the full extent of the property you're buying and that there are no encroachments or other issues that could affect your use of the property. Talk to your real estate agent or lender to determine whether a survey is recommended for your specific situation.
