While a new home or land purchase can be a great investment in your future, they come with big price tags. The median house price in Palm Beach County is around $350,000. If you are interested in buying property, you will likely need a bank or other lender to give you a loan. 

Financial institutions lend large sums for 15- to 30-year terms. Lenders request surveys to ensure the property being purchased is worth what the borrower is paying. Appraising the property is one way to reduce the risk of losing money since the home could be sold in cases of default. 

The property’s value may be skewed if the survey turns up unknown findings. For instance, a driveway, fence, or even swimming pool could be partially on a neighboring property.

Cash is king, but so is knowledge. Even if you do not need financing for your home purchase, a Wellington surveyor can verify what you are paying for. As the legal owner of the land, you are responsible for the maintenance of your property.

For instance, a fallen tree causes damage to phone lines and a neighbor’s vehicle. The landowner is financially responsible if the tree is on their parcel, even though it is on the other side of the fence. 

You may also need a survey years into homeownership if any of your neighbors start a boundary dispute. A survey will show the legal boundaries, and the surveyor will provide markers if there are none or existing ones are no longer visible.

South Florida is known for its sand and sunshine as much as the tropical storms and constant rain. Flooding is a common occurrence for residents who live close to sea level, in flood zones, or have poor rain drainage. 

Lenders often require flood insurance as part of the loan’s terms. Banks and sensible homeowners want to protect their investment through insurance coverage. However, flood insurance rates may be outdated due to the geographical changes that occur over time. 

Likewise, if you have made alterations to your property to prevent or decrease the likelihood of flooding, you may be paying too much for insurance. A surveyor can assess your land and the surrounding topography for a flood elevation certificate. 

Making improvements to your land is a great way to increase its value. Adding a fence, shrubbery, or even a water feature can enhance your land as well as your neighbor’s. Before adding immovable structures, you will want to confirm your project happens on your property. 

A survey can also save you a lot of time in the planning process. Having accurate measurements and topographic data can help your estimate material, time, and other aspects. 

Similarly, you will want to know about easements on your land. An easement means a local authority has the right to use a portion of your land, such as a utility company. For example, you will not be able to add an inground pool if there are underground lines in that location.

Expanding the square footage of your home is another way to increase its value. Whether adding a shed, another room, or a second floor, you will want to get a survey of the property before breaking ground. 

Similar to unseen easements preventing alterations to the land, you will need to be aware of your land’s topography. A survey can help architects and construction companies determine the safest way to create your additional structure. 

A survey helps you plan how big, where, and other important details about your addition. Topographic information is particularly useful if you have a water-adjacent property.