A land survey is usually a requirement that many mortgage companies insist be completed before any loan is finalized. Many companies require them because they give a detailed picture of the property's boundary lines as well as an accurate measurement of the size of the property. For potential home owners, it is always a good idea to set at least $400 aside for the land survey fee. The average fee for a survey done regarding a typical standard home transaction is usually around $350. That price can vary though depending on a great deal of factors.
The number one factor that will determine the price of the land survey fee will be the size of the property. Obviously the larger the property the more expensive the survey will be. Other factors that can increase the price of the survey are the location and landscape of the property. If a home buyer is looking to purchase a piece of land that is surrounded by or has several trees and shrubbery on it or adjacent to it, it could make it more difficult for the surveyor to complete the survey. Remember, most companies charge by the hour for these surveys. So the longer it takes the hired surveyor to complete the survey, the higher the price is going to be.
One way buyers can save money is to see if a survey has been done on the property before. Depending on when one was previously done, it may be possible that another will not be required. If one is required though, having an older one to serve as a model can become very beneficial and can oftentimes speed up the process.
Land surveys are a very important part of the purchasing process. One should never pick the hired surveying company based on the price alone. While some land surveyors can charge as little as $50 an hour, the more experienced ones will oftentimes produce better results. An experienced surveyor will typically charge $84-100 per hour.
While the average price for a survey is usually under $400, there are many factors that could raise that price to well over $700. Before settling on a company, buyers should always do their research. Research the company and what kind of certification their surveyors have as well as the history of the home or lot being surveyed. Being informed before hiring a company can oftentimes save a buyer hundreds of dollars.