The Top 3 Reasons You Should Survey Your Property
What is a Property Survey?
A property survey helps landowners understand their property by determining or verifying a property’s boundary lines. It is used to define the precise amount of land the owner possesses (including structures and features) and pinpoints any encroachments or easements it may have. It’s important to state that while not all construction requires a survey, mortgage lenders frequently do. So why are land surveys more vital than you may think? Here are our top three reasons.
1) Property Lines
Knowing exactly where your property begins and ends helps owners avoid future problems with their neighbors. For example, if you are a homeowner and want to have a fence on your lot, you need to know precisely where to place it to avoid crossing over to your neighbor’s property. If you cross the boundaries (unknowingly or not), you will have to remove the fence and put it in the correct place, costing you time and money.
2) Structural Limitations and Zoning Classification
A survey will help you determine any structural limitations you may have to be wary of if you plan to build on your site. This starts with the boundary lines and knowing which area of the land you are able to build on and which areas you are not. But it doesn’t stop there. It also reveals the zoning classifications, which tell you how you can use your property and the possible restrictions behind it, in addition to the ground issues, including how vulnerable the land is to natural disasters, the soil conditions, and its connection to natural resources.
3) Financial Value
Many times, in both residential and commercial cases, a larger piece of property will need to be divided into several smaller sections. This is usually due to the property having multiple owners, and the land’s need to be priced correctly based on quality and size. In these instances, the room for error is thin due to the larger number of people involved.
Bottom line, a land survey will help you protect your investment, time, and money. Therefore, it is definitely worth looking into whether you just bought a home, are looking to build on your land, or simply wishing to understand your property better.