If you are planning to undertake construction work that involves party walls, then it is crucial that you understand the importance of a party wall agreement. A party wall agreement is a legal document that outlines the rights and responsibilities of both the property owner and adjoining property owner, and it ensures that the construction work does not negatively impact the safety or stability of the adjoining property.
When it comes to determining the cost of a party wall agreement, there are various factors that you need to consider. The cost of a party wall agreement will depend on the complexity of the construction work, the number of adjoining properties, and the fees charged by the surveyor.
The complexity of the construction work will determine the amount of time and effort required by the surveyor to draft the party wall agreement. For example, if you are planning to construct a simple single-story extension, then the surveyor will not need to spend as much time on the agreement as they would for a more complicated construction project such as a basement excavation.
The number of adjoining properties will also impact the cost of the party wall agreement. If you have one adjoining property, then the cost of the agreement will be lower than if you have several adjoining properties. This is because the surveyor will need to contact each adjoining property owner to ensure that they are aware of the construction work and agree to the terms of the party wall agreement.
The fees charged by the surveyor will depend on their level of experience, their location, and the complexity of the project. It is important to choose a surveyor who is experienced in party wall matters and who is familiar with the local building regulations. The fees charged by a surveyor can range from a few hundred pounds to several thousand pounds, depending on the complexity of the project.
On average, the cost of a party wall agreement can range from £700 to £1500. However, this is just an estimate, and the actual cost will depend on the factors mentioned above. It is important to factor in the cost of the party wall agreement when budgeting for your construction project, and to ensure that you choose a qualified and experienced surveyor to draft the agreement.
In conclusion, a party wall agreement is an essential legal document that ensures that the construction work does not have a negative impact on the adjoining property. The cost of the agreement will depend on the complexity of the project, the number of adjoining properties, and the fees charged by the surveyor. As a property owner, it is important to budget for the cost of the party wall agreement and to choose a qualified and experienced surveyor to draft the agreement.