Buying a home is one of the biggest financial decisions most people will make in their lives. Whether you’re a first-time buyer or moving into your dream home, there are many things to consider, and one of the most important is the Home Buyers Survey. This survey can help you avoid potential problems and ensure you’re making a sound investment. In this blog, we’ll cover everything you need to know about a home buyers survey, including why it’s important, the different types available, and what to expect.

What is a Home Buyers Survey?

A Home Buyers Survey is an inspection of a property, carried out by a qualified surveyor, to assess its condition. The surveyor will check for any defects, potential issues, and areas of concern that could affect the property’s value or require repairs. The homebuyers survey gives buyers a clear understanding of the condition of the home they are considering purchasing.

Why Do You Need a Home Buyers Survey?

You may wonder if a home buyers survey is really necessary, especially if the property looks fine at first glance. However, appearances can be deceiving. A survey can uncover hidden problems that may not be obvious to the untrained eye, such as structural issues, dampness, or faulty wiring. Knowing about these issues beforehand can help you:

• Avoid costly repairs: Identifying problems early can prevent expensive fixes later.
• Negotiate a better price: If the survey reveals defects, you can negotiate with the seller for a lower price or ask them to carry out repairs.
• Make an informed decision: With a full picture of the property’s condition, you can decide if it’s still the right home for you.

Types of Home Buyers Surveys

There are several types of home buyers surveys to choose from, depending on the level of detail you need and the market valuation and type of property you’re buying.

Condition Report (RICS Level 1)

This is the most basic type of survey and is suitable for modern homes in good condition. It provides a summary of the property’s condition and highlights any urgent defects. However, it won’t go into detail about potential structural issues or future maintenance.

HomeBuyer Report (RICS Level 2)

The HomeBuyer Report is more detailed and is the most popular choice for buyers. It’s suitable for most types of properties and includes a more thorough inspection. The surveyor will check for structural problems, dampness, and other issues that could affect the property’s value. It also includes a valuation of the property and advice on repairs.

Building Survey (RICS Level 3)

This valuation survey is the most comprehensive survey and is recommended for older properties or homes that have been significantly altered. The Building Survey provides a detailed analysis of the property’s condition, including potential defects, maintenance needs, and any future repair work. It doesn’t usually include a valuation, but it offers the most in-depth report.

What Does a Home Buyers Survey Include?

The contents of a survey will depend on the type of survey you choose, but most home buyers surveys will have basic survey to include the following:

• Exterior Inspection: The surveyor will check the roof, walls, windows, doors, and any visible external structures for damage or defects.
• Interior Inspection: Inside, the surveyor will assess walls, ceilings, floors, and fittings for signs of damp, cracks, or other issues.
• Structural Elements: The surveyor will look for any visible signs of structural problems, such as subsidence or large cracks in the walls.
• Utilities: Although surveyors won’t carry out specialist tests, they may flag concerns about electrical wiring, plumbing, or heating systems if they notice any problems.
• Drainage and Damp: The survey will assess whether there are any signs of dampness or issues with drainage that could cause problems in the future.

What a Home Buyers Survey Doesn’t Cover

While a survey provides a comprehensive overview of a property’s condition, there are certain things it doesn’t cover. For example:

• Hidden issues: The surveyor won’t lift carpets, remove floorboards, or look behind walls, so any problems hidden from view may not be identified.
• Specialist checks: For detailed assessments of electrical, gas, or drainage systems, you’ll need to hire a specialist.
• Pest infestations: Surveyors won’t check for pests unless there are obvious signs of infestation.

How Much Does a Home Buyers Survey Cost?

The cost of a home buyers survey depends on the type of property price, of survey you choose and the size of the property. On average, prices range from:

• Condition Report: £250 to £400
• HomeBuyer Report: £400 to £1,000
• Building Survey: £600 to £1,500

Although this may seem like an additional expense on top of the purchase price, it can save you money in the long run by identifying problems before you complete the purchase.

When Should You Get a Home Buyers Survey?

It’s best to arrange a home buyers survey as soon as you’ve had your offer accepted but before you exchange contracts. This gives you time to review the survey report and decide whether you want to renegotiate the price, ask the seller to fix any issues, or even walk away if significant problems are found.

What Happens After the Survey?

Once the survey is complete, you’ll receive a report detailing the survey level findings. If the survey reveals any issues, you can:

• Renegotiate the price: If repairs are needed, you might be able to negotiate a lower price to cover the cost of fixing the issues.
• Request repairs: Alternatively, you could ask the seller to carry out the necessary repairs before the sale goes through.
• Proceed with caution: If the problems are minor or manageable, you might choose to go ahead with the purchase as planned.
• Walk away: If the survey uncovers major issues that would be costly to repair, you have the option to back out of the deal.

Do You Need a Survey for a New Build?

While new-build properties are generally less likely to have issues, it’s still worth considering a snagging survey. This is a specialised survey for new homes, focusing on any defects or unfinished work that the builder needs to address before you move in. Even newly built homes can have problems, such as poor workmanship or incomplete installations, so it’s always a good idea to get a professional opinion.

The Importance of Choosing a Qualified Surveyor

When selecting a surveyor, ensure they are accredited by the Royal Institution of Chartered Surveyors (RICS). A RICS-accredited surveyor adheres to strict standards and is fully qualified to assess the property. This guarantees that you’ll receive a professional and accurate report that you can rely on.

What is a House Survey?

A house survey is an inspection of a property by a qualified surveyor to evaluate its condition. The surveyor looks for defects, potential issues, and areas that might need repairs or maintenance. The findings are then compiled into a report that gives the buyer a clearer picture of the property’s state before committing to the purchase.

Why Do You Need a House Survey?

Buying a home is a significant investment, and a house survey ensures that you’re fully aware of the property’s condition before finalising the purchase. Without a home survey, you could end up with unexpected repair costs for issues such as damp, subsidence, or faulty wiring. Key reasons to get a house survey include:

• Uncovering hidden issues: A survey can reveal problems that aren’t visible during a standard viewing.
• Negotiating power: If the survey identifies defects, you may be able to negotiate a lower price or ask the seller to make repairs.
• Planning for future costs: The survey can highlight areas that may require maintenance or repair in the near future, helping you plan your budget.

Types of House Surveys

There are several types of house surveys available, each offering a different level of detail depending on the condition of the property and the buyer’s needs.

Condition Report (RICS Level 1)

The most basic and affordable survey, the Condition Report, provides a simple overview of the property’s condition. It is suitable for newer properties or homes in good condition. The survey identifies urgent issues but does not go into much detail. It is best suited for buyers looking for a general reassurance about the property’s state.

HomeBuyer Report (RICS Level 2)

The HomeBuyer Report is the most commonly requested survey. It provides a more detailed assessment, looking at the structure, dampness, insulation, and any defects that could affect the property’s value. The report includes advice on necessary repairs and future maintenance and often includes a property valuation. It’s suitable for most properties that are in reasonable condition.

Building Survey (RICS Level 3)

For older properties or homes that have undergone significant alterations, a Building Survey is the most comprehensive option. It is structural survey that provides an in-depth analysis of the property’s structure and condition, identifying both minor and major defects. The report includes detailed advice on repairs, maintenance, and any future work that may be required. It does not typically include a valuation, but it gives the most thorough assessment of a property’s state.

What Does a House Survey Cover?

The exact scope of a house survey depends on the type of property survey chosen, but in general, the surveyor will examine:

• Structural elements: Including walls, foundations, and roof for any signs of subsidence, cracks, or other damage.
• Damp and moisture: Identifying any signs of dampness or moisture that could lead to further issues if not addressed.
• Roof and gutters: Inspecting for damage, leaks, or signs of wear and tear.
• Windows and doors: Checking for functionality, security, and signs of damage.
• Internal fittings: Including floors, ceilings, and walls for signs of wear, cracks, or potential issues.
• Drainage: Examining drainage systems and looking for any potential problems with water flow or blockage.

While surveys are thorough, they won’t usually involve moving furniture, lifting floorboards, or accessing areas that aren’t easily reachable, such as roof spaces or basements. If these areas require further investigation, the surveyor may recommend specialist reports.

When Should You Get a House Survey?

It’s recommended to arrange a house survey after your offer has been accepted but before contracts are exchanged. This ensures that if any significant issues are found, you can still renegotiate the price or ask the seller to address problems before the sale goes through. In some cases, if major defects are discovered, you may decide to withdraw your offer altogether.

What is a RICS HomeBuyer Report?

A RICS HomeBuyer Report is a mid-level survey that assesses the condition of a property. It’s typically chosen by buyers who are looking at homes that appear to be in reasonable condition and are of standard construction. The report provides more detail than a basic Condition Report but is less comprehensive than a full Building Survey.

The HomeBuyer Report highlights any visible problems that may affect the property’s value or future maintenance, helping buyers avoid unexpected repair costs. It’s an affordable option for many homebuyers and offers peace of mind before committing to a property purchase.

Why Do You Need a RICS HomeBuyer Report?

A RICS HomeBuyer Report is highly recommended if you are purchasing a property that is:

• Built within the last 100 years and of conventional construction.
• In seemingly good condition, with no major structural alterations or issues.
• Not a listed building or a very old property, as these may require more in-depth analysis via a Building Survey.

By getting a HomeBuyer Report, you will:

• Identify potential problems early: The report highlights any structural issues, defects, or areas requiring repair.
• Avoid expensive surprises: Knowing about potential problems ahead of time allows you to factor repair costs into your budget.
• Negotiate a better deal: If the report identifies issues, you can negotiate with the seller to lower the price or ask for repairs to be made before finalising the sale.
• Gain reassurance: With an expert’s evaluation, you can proceed with the purchase, confident in your knowledge of the property’s condition.

A home buyers survey is an invaluable tool for making sure your new home is everything it seems to be. It gives you peace of mind, helps you avoid nasty surprises, and ensures you’re fully aware of the property’s condition before committing to the purchase. While it may seem like an additional cost, the benefits of knowing exactly what you’re buying far outweigh the price of the survey itself.

FAQs

1. Is a home buyers survey mandatory?

No, a home buyers survey is not mandatory, but it’s highly recommended to avoid potential issues and costs after purchasing a property.

2. Can I use the survey results to renegotiate the price?

Yes, if the survey reveals significant issues, you can use the findings to renegotiate the price or request that the seller make repairs.

3. How long does a home buyers survey take?

Most surveys take a few hours to complete, and you’ll usually receive the report within a week or two, depending on the surveyor’s schedule.

4. What happens if I don’t get a survey?

If you don’t get a survey, you run the risk of encountering hidden issues that could be expensive to fix after you’ve bought the property.

5. Is a survey needed for a flat?

Yes, a survey is still recommended for flats. While some aspects of the building may be covered by the management company, the condition of the flat itself should be assessed.

You can find more information on our website, Andrew Pridell Associates