The typical home in Stuart is about $275,000. Almost all prospective homeowners need to finance their purchases through a bank or another lender. Financial institutions often require a survey as a way to protect the investment.

Lenders want to ensure the property you are buying is as described in the paperwork. A survey will also help them determine if the property has the collateral worth of the mortgage loan. If you default on your mortgage payments, the bank will sell the property to recoup its losses. 

The survey will also help in the appraisal process. An upside-down mortgage is when the borrower owes more than the value of the property. Lenders want to avoid upside-down mortgages as much as you do. 

If major financial institutions require surveys for financing, it is a good idea even when you are paying cash. You have more leeway when you purchase property without a loan, but it is always valuable to know exactly what you are purchasing.

You might believe that a fence marks the property lines, but they are not legal boundaries. Owners often put fences inside their property line, sometimes by feet or yards. You may get into a boundary dispute with your new neighbors. 

A survey with topographic information can also be beneficial if you plan to make changes to the property. In addition to determining more accurate estimates in the planning process, having the information in hand can prevent you from making a costly mistake, such as an unknown easement. 

More than 25 percent of Stuart’s area is water. Combined with the tropical storms and hurricanes South Florida is known for, landowners and lenders are aware of the flooding possibilities. In fact, many lenders make flood insurance coverage part of the mortgage terms. 

Factors that affect your flood insurance rate include the risk and structure location. For instance, your insurance rate may be higher if you have property around Frazier Creek.  

Land and water shifts over the years. Your insurance company may have set your rate based on old information. After evaluating your property, a surveyor can issue a flood elevation certificate. 

Before you break ground, a surveyor can give you the all-clear to start your project. If you are unaware of what is under your grass, you may find yourself in trouble.

It is not unusual for landowners to find out that there is an easement on their property. An easement is a portion of land that is accessible to another party, like a utility company, for a specific reason. For example, there could be in-ground wires where you want to put a swimming pool. 

Likewise, it is important to verify your property lines and shrubbery before making changes. If there is a tree between you and your neighbor, you will need to make sure it is yours before you chop it down. 

As your family grows, so do your space needs. An addition is a great way to add square footage to your home. Or you may want to add a garage to house your vehicles and create extra storage.

Before you increase your living area, make sure your construction company is aware of your property boundaries. Unlike a survey, blueprints will not specify if your bigger kitchen now extends onto your neighbor’s side yard.

Like landscape changes, you will also need to know about the land if you are building on top. Easements, for example, need to remain accessible to the managing third party.