It is important to know and understand the legal history, the stories, and events that occurred before you moved into your home. These factors are important to find out because you need to know this information if you are deciding to renovate or rebuild. Here are some tips and tricks that will help you:
Why Should You Have a Survey Done?: Every homeowner should have information about the details of your property’s boundaries. Land surveys that are used for residential homes are called Surveyor’s Real Property Reports and are illustrated documents which show where your home sits and where any improvements such as renos, additional buildings, decks, driveways, or pools, have been made, since a land survey is legally binding. This can be relied on if anything is questioned in a real estate deal whether by the bank, Mortgage Company, or the local municipality.
How Long Does a Survey Last?: Surveys do not have an expiration date but if you end up inheriting one with your home, it may be best to have it updated. Surveys are like a snapshot of your property and every time you or your neighbours add or change something around the house such as a fence, deck, pool, or add an extension, a survey must be completed. If you’re buying a property, money lenders might request a current land survey as part of their financing conditions, therefore its best to be prepared under all circumstances. On the other hand, if you’re planning on selling your home and think that perspective buyers might be inclined to renovate or rebuild, offering a completed land survey as part of the deal might be something to consider.
How Does a Survey Protect You?: If you’re planning a large home renovation in which the footprint of your home will change, you need to complete a land survey. The cost can be anywhere from a few hundred to several thousand dollars (depending on the size of your lot, types of natural features on your land and the age of your property), the investment could save you money in any possible future land disputes. For example, building a fence is often debatable between even the best of neighbours and knowing the land boundaries is critical so that your fence isn’t installed a foot into your neighbours yard. In this case, it is important to make sure that you have the proper permits as well as having a professional survey completed by a registered land surveying company.
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