Costs of Party Wall Agreement

If you`re planning on carrying out any construction work on a property that you share a wall with, you`ll need to obtain a party wall agreement to ensure that both you and your neighbors are protected from any damages or disputes that may arise.

However, obtaining a party wall agreement is not cheap. There are several costs that you`ll need to consider.

Firstly, you`ll need to appoint a party wall surveyor. This is a legal requirement and is necessary to ensure that the party wall agreement is drawn up correctly. The cost of a surveyor will vary depending on the complexity of the project, but expect to pay anywhere from £600 to £2,000.

Secondly, you`ll need to serve your neighbors with a party wall notice. This is a legal document that informs them of your intentions to carry out construction work. The cost of serving a party wall notice will vary depending on the method you choose. If you serve the notice yourself, it could cost as little as £50. However, if you choose to use a solicitor to serve the notice on your behalf, you could be looking at a cost of £500 or more.

Thirdly, you`ll need to obtain party wall insurance. This is separate from your existing home insurance and is designed to protect both you and your neighbors from any damages or disputes that may occur during the construction work. The cost of party wall insurance will depend on the value of the work you`re carrying out, but expect to pay anywhere from £100 to £500.

Finally, you`ll need to pay for any repairs or damages that occur as a result of the construction work. This could include repairing any cracks in the wall or paying for any damage caused to your neighbor`s property. The cost of repairs will depend on the extent of the damage and could be substantial.

In conclusion, obtaining a party wall agreement can be expensive. However, it`s necessary to protect both you and your neighbors from any disputes or damages that may occur during the construction work. By factoring in the costs of a surveyor, notice, insurance and repairs, you can ensure that you`re fully prepared for the financial commitment of a party wall agreement.