Are you in the market for a fixer-upper, whether to flip or live in yourself? Make sure you avoid these common mistakes made during the buying process that could seriously impact your ability to make property renovations.
Skipping comprehensive surveys
There is usually no obligation to perform property surveys during the purchasing process, but skipping surveys can have serious consequences. Level 2 or 3 surveys are recommended to investigate for serious structural issues which could be hugely expensive to fix in the long run or even compromise your ability to renovate.
Look for a recommended chartered property surveyor in your area and request a report. If you’re planning renovations, the most in-depth option is recommended. The surveyor is legally obligated to search for building defects, so you’re highly likely to uncover all existing or potential issues and get the benefit of expert opinion concerning the seriousness of the problems.
Neglecting legal due diligence
Before you buy a property, your solicitor should perform thorough legal checks and secure all essential documentation relating to the ownership. This includes obtaining a Property Information Form which outlines the exact boundaries of the property, who is responsible for surrounding maintenance and any known issues.
Failure to fully investigate the property details and/or raise potential issues could seriously impact renovation plans. Incorrect boundary lines could conceal council-owned areas of land obstructing extensions, and a failure to highlight previous disputes could land you in hot water with neighbours making official complaints. Such problems could give you grounds for a conveyancing negligence claim if they hinder your ability to perform planned renovations.
Overlooking planning permissions
You don’t need to get planning permission during the sale of a property, and it might seem nonsensical to apply for it prior to gaining ownership, but ignoring planning permissions completely could be disastrous if your main aim is to renovate. In the UK, while you’re free to make some changes such as loft conversations and adding small conservatories, you must have planning permission to make a major change to a building like an extension, so it’s best to know early if your application is likely to be rejected.
Planning permission is granted or denied by the local council. You can save time by applying before you buy and checking for previous planning permission applications and their status on the council’s website. These measures will also help prevent you from taking on a no-go project.
Should you start significant renovation work without permission, you could be served an ‘enforcement notice’ which requires you to undo all changes, doubling your renovation costs and potentially making it harder to sell-on the property.
