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28 October 2012

Insurance or surveys available to protect when buying a house?

I'm looking to buy a house which will leave me with little spare cash available if any repair work is required. Are there any types of surveys that will thoroughly check various aspects of a house so that I am protected from nasty surprises such as electrical re-wiring, water pipe work, broken boilers, leaking roof, dodgy conservatories etc? Or even better, are kind of insurance that I can take which offers protection after the purchase, say for a period of 12 months? I've spoken to a couple of friends and they recommend putting aside £20-30k in case anything major needs doing after moving in. This got me quite worried and swaying me to look for new builds, which are quite limiting at the moment. Thanks.

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