Croydon and all CR Postcodes
As already mentioned, there are going to be plenty of new build properties in Croydon over the next few years, some of which have been designated as ‘affordable housing.’ The Ruskin Square development, for example, will have over 500 new homes, with the first phase (161 apartments) due for completion in 2016.
Property prices will reflect proximity to London. At the moment, a one bedroom maisonette could cost around £110,000, a three bedroom terrace approximately £400,000 and at the upper end, a six bedroom detached will set you back by £1,750, 000. Most properties sold recently have been apartments.
Currently, the average price for a property in Croydon is £263,870 (www.proviser.com/)
To survey or not to survey? That is the question.
Just recently, a group of home buyers took part in market research (RICS/GfK NOP Business Research). Results showed that one in four of them relied on a mortgage valuation and didn’t have a proper survey carried out before they purchased a house.
25% of these people needed to undertake unplanned work in the first year, and the cost of that amounted to an average of over £1,100
Here are just two areas that a qualified surveyor will consider on your behalf, whether you’re proposing to buy in Croydon or anywhere else:
Does your property have any defects?
Surveyors will inspect all elements of the fabric of the building and identify any existing and potential problems. They will also advise on the implications, if there are any issues, and can advise upon the likely cost to put things right.
What about compliance with regulations?
Has the boiler been serviced recently? What about the electrical wiring? Has it been tested? Is there asbestos on the property? Is the property listed or in a conservation area which may restrict your plans or impose obligations on you that you’re unable to meet? Do all the renovations carried out comply with planning and building regulations?
If you’re wanting to get a mortgage, these are the sorts of questions that need to be answered, and certificates or warranties will have to be provided if necessary.
This is where Robinson Elliott Surveyors can help you.
In an expensive new build near Croydon, decorative stone cornices had been cut through with angle grinders to fit the drainpipes, damaging the masonry. These and a whole catalogue of problems identified by our surveyor meant the purchase price was reduced by £50,000
Robinson Elliott Surveyors Ltd. is regulated by RICS