Why It’s Crucial
When composing a real estate survey, the survey is only as good as the person doing the administration. Be sure the individual in charge of issuing the proctor is fully competent and has experience. This person should have experience and a full list of criteria that they need to make the right decisions.
There’s nothing worse than having great property that’s mindlessly squandered because a survey person wasn’t sure of their job.
The real estate game is all about taking capital, investing it, and flipping it into something greater. It’s a common sense principle, but it’s often overlooked by a lot of people in the industry.
The survey is vital because it helps with risk reduction when you know that a property is likely to be a lucrative investment or not.
What To Look For
When conducting a real estate survey, all sorts of things are important to keep in mind.
The first is elevation. Most people don’t think about it, but the grand you stand upon isn’t always perfectly in line with the ocean. Oftentimes, you’re either above or below sea level. The drastic change in sea level can mean the difference between millions. If a house is above sea level, flooding won’t be an issue. This means that flood insurance is no longer necessary, and also, construction-wise, you can engineer below ground amenities like pools or basements.
If a house is below sea level, be careful. Any subterranean constructions could easily result in a leak or flood.
These might seem like unnecessary precautions, but if you’re a new homeowner, every little thing counts.
Just like with any crucial decision, you don’t just take the first opinion and run with it. The important thing to consider is getting multiple opinions whenever you do a survey on a given property.
One surveyor may specialize with a certain type of property, others, may specialize with other types. Since this individual is responsible for the effectiveness in which you can flip your property, it’s a big deal if you can get the right surveyor to give you the best price for your investment.
There will be some ups and downs with your initial investments, but over time, the rewards will outweigh the losses and frightening risks. After a few surveys, you’ll see that the process isn’t as painful as it appears on paper.