FOR most people, buying a house is one of the most important events in their life.
Therefore, it is important that we get all the facts we need to decide whether or not a property is right for us.
As the property market continues to grow, more and more of us are considering moving house but buyers must be wary of matters that fall outside the scope of the usual surveys.
The landscape of the UK is changing and whether it is the recent surge in areas affected by flooding, the development of the new high speed rail network or even the construction of a new wind turbine, property buyers need to be more cautious than ever when investing their hard-earned money.
Flooding hit the country with devastating effects again this year, with more than 10,000 homes and businesses being damaged in January and February alone.
An estimated average cost to each household of around £30,000 has been suggested by major insurers.
As weather conditions continue to become more and more unpredictable, it is essential that you ensure you are fully informed of all the risks.
Property buyers considering purchasing in an area close to rivers, streams or coasts must be especially cautious if they are not familiar with the specific area.
Solicitors and conveyancers can offer property owners and buyers the peace of mind of a specialist flood risk assessment designed to make a qualified judgment of the risk of flooding to a property and highlight areas that may be at risk from surface water damage.
In addition, where necessary, the report provides advice on possible measures that could be taken to minimise any future damage to the property.
The new High Speed Rail Network has also been the topic of widespread debate in the media.
Designed to link London to the North of England, the trains will travel at speeds upwards of 200mph and will have a significant impact on properties nearby.
This is particularly important in the East Midlands as the current plans will see the proposed link run between Derby and Nottingham with a hub station planned for Toton sidings.
It is possible through a solicitor or conveyancer to carry out a specific property search to assess the impact that the line will have on properties at that location, including information on the estimated speed and the location (underground, ground level or raised) of the line in proximity to the house.
Buyers with this information to hand can make an informed decision about whether the new link will impact on the value or their enjoyment of the property.
There are also compensation schemes available for current owners that have properties very close to the proposed rail lines and property owners should bear this in mind in the coming years.
The last 12 months have also seen a rapid increase in the number of new energy production devices; solar panels, wind turbines and gas and oil 'fracking' sites to name a few.
While solar panels and wind turbines are relatively well known, the new 'fracking' sites have been slightly less obvious.
'Fracking' or Hydraulic Fracturing, to be technical, is the process of extracting gas or oil from the earth by fracturing rock using high pressure liquid.
The fractured rock releases the gas/oil which can then be collected. This process was previously banned in the UK over fears of land contamination and risk of ground movement but the restrictions were lifted in 2012, paving the way for more sites throughout the UK.
As the country strives to be less reliant on fossil fuels, the inevitable impact is the increase in these types of energy farming.
The East Midlands has not avoided these risks. Residents to the east of Derby will no doubt have spotted the new wind turbines near Pride Park and in Wanlip in Leicestershire they can boast the country's largest onshore wind turbine standing 422ft high.
These sites are on the increase and property owners and buyers need to be aware of what is planned in their area.
Optional Energy Searches are now available for property owners and buyers, through their solicitor, that highlight areas that the local authority has either granted licences for or deemed acceptable for wind turbines, fracking sites and new power stations.
In addition, they also reveal the proximity of major electricity cables giving property owners and purchasers vital information in their decision making process.
It remains to be seen whether the proximity to these sites will adversely affect valuations of properties but it has recently been accepted that property owners that have major electricity cables over their properties are entitled to compensation for the potential loss in marketability of their properties.
There remains the possibility that homes close to wind turbines and fracking sites may also face drops in their value.
Whether you are currently buying a property, thinking of moving or have lived in your home for years, it is important to be aware of your surroundings and the impact that the changing landscape will have in years to come.
The issues above are just some of the many matters that you should certainly consider when moving home.
Many of these issues are not checked as standard by most legal professionals so you should discuss in detail these matters with a qualified local solicitor or conveyancer before embarking on any property purchase to find out whether a flood risk assessment, HS2 Search or Energy Search is necessary in your area.
