Why You Absolutely Need to Look at Your Property Survey Before Buying a Home

When you buy a home, there are certain steps you need to take to make sure you're purchasing the property you think you are. Most buyers, for example, put a home inspection clause into their purchase agreements that says if an inspection uncovers major issues, they have the right to walk away from the deal without financial penalty unless those issues are fully addressed.

One document you may not think to access or look at before closing on your home is your property survey. But actually, it's a document you really don't want to overlook.

The importance of reviewing your property survey

Your property survey is a document that spells out the boundaries of your property. And that's an important thing to know.

Let's say your home and the adjoining property share an outdoor space that isn't fenced. A property survey will show you how much of that property is yours versus your neighbor's.

But that's not the only reason to look at your property survey before buying your home. Your property survey will also indicate if any of your land is restricted in any way. And that might play into your decision to purchase that home.

Let's say your property survey reveals that part of your yard is on conservation land, or that there's an easement in place. That could mean that you're not allowed to make changes to that part of your property, such as planting or cutting down trees or putting up any type of permanent structure that could alter the land, like a swimming pool, shed, or fence.

That could be a deal-breaker, depending on your plans for the property. So it's better to know what you're dealing with before you sign your mortgage and lock yourself into that home purchase.

How to get a copy of your property survey

If you already own your home and want a copy of your property survey to pursue an outdoor project (for example, you'll likely need a copy before you put in a pool), you may be able to get it by visiting your local tax assessor's office or by going to your town office and inquiring there.

If you're in the process of buying a home, your mortgage lender or title company may be able to help you find a copy, says Experian. In fact, it's common for lenders or title companies to have a new survey done as part of the closing process. That's something you'll often pay for as part of your closing costs. And if you're paying, then you absolutely have the right to get a look at that document.

You may not be inclined to pay close attention to your property survey when you're buying a home. But failing to read yours carefully could end up being a big mistake. So just as you probably wouldn't buy a home without thoroughly reviewing the findings of a home inspection, so too should you make a point to understand your property survey and make sure there are no red flags.