Buying or selling a home is a significant investment, and one of the most important steps in the process is understanding the condition of the property. A professional home surveyor plays a crucial role in this by providing an in-depth report on the structural integrity and overall condition of the property. However, for many homeowners, understanding how much a home survey costs and what factors influence the purchase price can be a bit tricky. In this guide, we’ll break down everything you need to know about home surveyor costs and how to approach this critical step in the real estate process.
What is a Home Surveyor?
A home surveyor is a qualified professional who assesses the physical condition of a property, checking for any issues that could affect its value or livability. They may focus on the structural elements, the integrity of systems (like plumbing and electrical), and the overall condition of the property. Surveys by property surveyors are often required by mortgage lenders or insurance companies to ensure that the home is safe and worthy of investment. However, even if not legally required, getting a survey done can give you peace of mind about your potential investment.
Types of Home Surveys
The cost of a home survey depends on the type of survey you choose. There are several options available, each with a property price and varying levels of detail and cost. Here are the most common types:
- Condition Report
- Purpose: A basic survey focused on identifying any visible issues with the property.
- Cost: Typically ranges from $300 to $600.
- Best for: Newer homes or properties in good condition with minimal risk for serious structural problems.
- Homebuyer’s Report
- Purpose: A more detailed inspection than a Condition Report, covering a wider range of issues such as damp, subsidence, or other structural defects.
- Cost: Typically ranges from $400 to $1,000.
- Best for: Homebuyers purchasing a property of a reasonable age, especially if it is not brand new or has visible signs of wear.
- Building Survey (Full Structural Survey)
- Purpose: The most comprehensive survey available. It includes an in-depth inspection of all aspects of the property, including the structure, systems, and possible future maintenance concerns.
- Cost: Typically ranges from $600 to $2,000, depending on the size and location of the property.
- Best for: Older homes, properties with potential hidden issues, or those in need of major repairs.
- Specific Surveys
- Purpose: Focused on one aspect of the property, such as a pest inspection or asbestos check.
- Cost: These surveys can range from $150 to $500, depending on the type of inspection needed.
- Best for: Homeowners who are concerned about specific issues (e.g., mold, pests, or structural issues).
What is a House Survey?
- A house survey is an expert inspection of a property’s condition, identifying problems for a prospective buyer.
- It’s completed by a surveyor who visits the property, carries out an inspection, and prepares a report on what they’ve found.
- Home buyers generally have a survey done on a property after their offer has been accepted by the seller.
- Before commissioning a survey, check that the surveyor is a member of one of the two main accrediting bodies.
Types of House Surveys
RICS Home Survey – Level 1 (Condition Report)
- This is the most basic type of survey, using traffic light ratings to give an overview of the property’s condition and highlight significant issues.
- It doesn’t go into detail, but is suitable for standard, modern properties in good condition.
- You can download an example report on the Rics website.
- The cost of a Condition Report is relative to your house price and size.
- The Condition Report will only state the overall condition and if there are defects that need urgent repairs or further investigation.
RICS Home Survey – Level 2 (HomeBuyer Survey)
- A mid-level survey is the standard choice for most properties in reasonable condition.
- It will look at everything that would be covered above, but with added extras.
- It will highlight any problems that might affect the property’s value and include the surveyor’s advice on repairs and ongoing maintenance.
- It’s a good option for most buyers, but may not be suitable for older or unusual properties.
- A HomeBuyer Survey costs £422* for the average UK home.
- The true cost will vary depending on the value of the property and the surveyor’s rates.
- Any risks or repair work will be rated 1-3 using a Traffic Light System.
RICS Home Survey – Level 3 (Building Survey)
- This is the most thorough type of survey, providing a comprehensive analysis of both the property’s structure and condition.
- It’s a good option for older properties, those in poor condition, or those with significant repair work needed.
- The surveyor will be ‘hands on’ and do things like check the attic and look under floorboards.
- The report will list any defects and advise on repairs and maintenance.
- A Building Survey is the most comprehensive of all the survey types.
- It provides an in-depth examination of the structure and condition of the home.
- A Building Survey costs £561* for the average UK home.
House Survey Costs
- The cost of your survey will vary significantly depending on the location, size, and type of property.
- Different surveyors may charge varying amounts, so make sure you get a few quotes before deciding who to use.
- The cost of a house survey can range from £300 to £1,500 or more.
- Get instant quotes from Chartered Surveyors in your area.
Home Surveyor Cost: Factors Affecting House Survey Costs
- The type and thoroughness of the inspection
- The size and type of the property
- The location of the property
- The surveyor used
- The value of the property
Survey Costs by Type
- RICS Home Survey Level 1: £300-£900
- RICS Home Survey Level 2: £400-£1000
- RICS Home Survey Level 3: £630-£1500
- Snagging Survey: £390*
- Home Report (Scotland Only): £703*
Other Surveys Available
- Snagging Survey: £390* for newly built homes.
- Home Report (Scotland Only): £703* for all sellers in Scotland.
- A snagging survey is done on new builds to find out if the construction has any problems.
- The builders are around to fix any issues found during the survey.
- It’s best to get a snagging survey done when the construction is done but before the legal finish date.
Mortgage Valuation Survey
- A mortgage valuation is a valuation ‘survey’, but this can be misleading.
- A mortgage valuation is nowhere near comprehensive enough to take the place of a proper house survey.
- A mortgage valuation is simply a cursory look at the property to assess its worth and so the lender knows your property is worth lending against.
- The cost of a mortgage valuation varies, usually according to property value.
Benefits of a House Survey
- Knowing and understanding everything about your house in advance is the difference between a good investment and a bad one.
- A property survey can uncover common problems that may affect the value of the property.
- It’s essential to understand the condition of the property before making an offer.
- A survey can feel like an unnecessary expense, but it’s far better to be aware of any problems before you buy a property.
- It allows you to make an informed decision about how much you’re willing to pay for it and, if necessary, budget for any repair work that needs doing.
Finding a Surveyor
- House surveyors range from local one-man bands to much larger companies.
- No matter who you use, you should check they’re registered with Rics or RPSA.
- Some homebuyers also find surveyors through local listings, personal recommendations, or comparison websites.
- When it comes to finding and choosing a surveyor, don’t just go with the one recommended by your bank, estate agent, or mortgage lender.
- Instead, you can ensure you are getting a good surveyor at a fair price by comparing quotes from several different firms using our tool below.
What to Expect from a House Survey
- A homebuyer’s survey can take between one and four hours to complete.
- A building survey can take between six to eight hours.
- You will get the results of a house survey within three to five working days.
- The results are most commonly emailed to you, but you can request that they be posted for a small additional fee.
How Long Does a House Survey Take?
- The amount of time a house survey takes depends on the level of survey you choose and the size of the property.
- For example, a Level 1 survey may take a few hours, while a Level 3 survey may take a full day.
How Long Does it Take to Get the Results of a House Survey?
- This depends on the individual surveyor and the complexity of the report.
- Your surveyor will inform you how long they’ll take to provide the report, but it shouldn’t be longer than five days (Level 1 or 2) or 10 days (Level 3).
The cost of a home survey might seem like an additional expense, but it is an investment in your future as a homeowner. By understanding the various types of surveys, factors that influence costs per survey report, and how to choose the right surveyor, you can make an informed decision that protects your financial interests. Whether you are buying or selling a home, a survey is one of the best ways to ensure that you are making a sound investment, free from costly surprises down the road.
Make sure to consult with a reputable surveyor and budget for this important step in your home buying or selling journey. Your home is likely one of the largest investments you’ll make, and ensuring its condition is worth the upfront cost.
FAQs
- What factors influence the cost of a home survey? The cost of a home survey is influenced by several factors, including the size and type of the property, its age, the location of the home, and the scope of the survey. Larger homes, older properties, and those in need of a more detailed inspection will typically cost more to survey.
- Do I need a home survey if the property looks fine? Even if the property looks fine, a home survey can uncover hidden issues that may not be visible to the untrained eye, such as structural problems, dampness, or issues with plumbing or electrical systems. A survey can save you from costly surprises down the line.
- What is the difference between a homebuyer’s report and a building survey? A homebuyer’s report is a mid-level survey that highlights visible defects and provides general recommendations for repairs. A building survey (or full structural survey) is much more detailed and includes an in-depth examination of the property, ideal for older homes or those with potential structural concerns.
- Can I negotiate the cost of a home survey? While the cost of a survey is generally fixed by the surveyor’s hourly rate or the type of survey you choose, you can still compare quotes from different professionals to ensure you’re getting a fair price. It’s important to prioritize quality over price to get a thorough and accurate inspection.
- How long does it take to get a home survey done? The length of time a survey takes depends on the type and size of the property. A basic condition report may take just a few hours, while a full building survey can take anywhere from 4 to 8 hours or longer. Afterward, you can expect the surveyor to provide a detailed report within a few days.
You can find more information on our website, Andrew Pridell Associates