Single Survey Scottish Home Report has a big mistake - What can I do?

sonicboom34

Hi,

I bought a house in Scotland about 18 months ago, and the Single Survey Home Report and the Energy Performance Certificate (EPC) both said that the house had a total internal floor space of 80m2. It turns out that the property is actually 72 m2 (10% smaller), which I have only realised today through a recent EPC completed, and the measurements taken. It may be that the lean to conservatory outside of the property was included, as doing so would have brought it up to 80m2, though it should not have been included, as it is not part of the building itself (it's more like a greenhouse).

I feel really disappointed to now figure out my house is smaller than it was listed as, because I feel I've probably paid more than I would have otherwise, and because I now wonder if the property has been valued higher than it should have been, and that my house is actually valued at less due to being that 10% smaller. It makes me worried that it's true valuation is less, with implications for remortgaging or selling.

Any thoughts on how much this might affect my property value and if there's anything I can do about this..?

Thanks

user1977

I suppose you could get a second opinion (from another surveyor) about what the valuation ought to have been at the time, though bear in mind there's always a margin of error, and that the valuation won't have been purely based on the floor area.

What was the reason for the updated EPC? Why are you sure that the new one is more accurate than the previous one?

ProDave

And how much did you pay compared to the valuation given in the purchase home report?

sonicboom34

user1977 said:

I suppose you could get a second opinion (from another surveyor) about what the valuation ought to have been at the time, though bear in mind there's always a margin of error, and that the valuation won't have been purely based on the floor area.

What was the reason for the updated EPC? Why are you sure that the new one is more accurate than the previous one?

The new EPC was done when the loft insulation assessment was done, about 6 months after we bought the house. They asked if they could do an EPC, and I think they mentioned they may do one again later to assess the difference after the insulation went in... 

The new EPC is available to view online, which shows the smaller floor size. I measured all the rooms today, and the new EPC is correct. I'm 100% certain the house is approx 72 m2, and not 80 m2. (The lean to conservatory is 8 m2)

sonicboom34

ProDave said:

And how much did you pay compared to the valuation given in the purchase home report?

We paid over 10% above the valuation.

I'm pretty certain that we would not have offered quite as much given the actual size of the house. I felt 80 m2 was pretty small for what we wanted, but it was a compromise for the location and a really good garden

user1977

And are you 100% certain that the conservatory shouldn't be included?

I doubt it would have made much difference to the valuation in any event.

sonicboom34

My initial thoughts, going by price per meter, and just a general feel, if the valuation was based partially on size, the valuation probably would be 5%+ less.. but I know that the valuation is based on more than just size, and the valuation might have been done correctly, even if the m2 was wrong

user1977

Size for valuation purposes is going to be mainly based on "proper" building size, I doubt surveyors add as much for conservatories. And it's largely going to be based on "what do 3 bed semis [or whatever] on this road sell for", with minor adjustments for extensions / condition etc.

sonicboom34

I'm pretty sure the conservatory shouldn't be included within internal floor space. The conservatory is on the back of the house, and has no lighting, electric or heating, and it's made of a metal frame with glass panels - it's actually more a lean to greenhouse, judging by images on Google, and not to the standard of normal conservatories you could put in yourself without a builder

I have looked at another house of the same style and size on my street which sold for only £5k less 5 years ago, selling for more than the valuation of my house - it's done up nicer inside, but has a smaller garden... So I feel a little less hard done by with my 10% size reduction... I've done a lot of work on the house and garden so far with fencing, driveway, insulation, nice pond, decorating, so will have added value

I think my main concern now is if the valuation is less, if that might affect when I remortgage in 3 years.. and sure, I feel a little missold, but what's £5k or £10k when it comes to houses

fourmarks

sonicboom34 said:

ProDave said:

And how much did you pay compared to the valuation given in the purchase home report?

We paid over 10% above the valuation.

I'm pretty certain that we would not have offered quite as much given the actual size of the house. I felt 80 m2 was pretty small for what we wanted, but it was a compromise for the location and a really good garden

I must ask if you ever viewed the house before purchase? If you went round it, presumably 2 or 3 times at least, before buying it, then you knew exactly what you were getting irrespective of the accuracy of the written measurements. It's like saying the house was big enough (just) in reality but subsequently too small on paper.

diystarter7

Hi

I was going to make a comment but IMO, the full report may indicate what the measures include.
Are you able to post a copy of the full report here minus identifiable details??

Sorry, but I find it hard to comprehend why you paid your money and now 18 months on feel you have been let down
as it is smaller than you expected or have I misunderstood you?

Thanks in advance