Whether
you’re a first-time buyer or your upcoming purchase is one of many property
investments you’ve made throughout your life, investing in a quality property
survey is a crucial aspect of buying a building. The professional services of a
chartered surveyor are incredibly valuable for home buyers; they offer expert
advice and flag up faults and defects with the property, making sure that you
as a buyer can guarantee you’re making a good investment.
However,
there are various different types of property survey available and it can be
confusing trying to work out which type of survey is best for the property you
intend to buy. Below, we explain what surveys are on offer and in which
circumstances they’re relevant.
Condition Report
This survey
fulfils the most basic requirements of a home survey, and all home buyers
should invest in a Condition Report as the minimum. It won’t go into lots of
detail, but it will outline obvious, minor faults or defects with the property
using a ‘traffic light’ system.
With a
Condition Report, you won’t be made aware of how to repair the faults
discovered, but it will give you a good idea of where to start. A property is
either marked as green, orange or red, depending on the condition of the
building and how much remedial work is required.
A Condition
Report is ideal for newbuild properties or homes which have been built recently
to standard building regulations; hopefully, repairs won’t be necessary!
Homebuyers Report
A Homebuyers
Report outlines any issues with a property that are fairly major but are clear
to see, for example, rot, damp or subsidence. The surveyor carrying out the
report won’t look behind furniture, lift up floorboards or drill holes, meaning
it’s non-intrusive. There may still be hidden issues, however, if the property
is of standard construction, this is probably not the case.
Following a
Homebuyers Report, you can make a decision as to whether you’d still like to go
ahead with the purchase and make the necessary repairs. Whilst no one wants
their Homebuyers Report to come back with lots of red flags, it does give you
leeway to negotiate the asking price.
Home Condition Survey
A Home
Condition Survey enables you as a buyer to find out more about the property you
intend to purchase, for example, learn about the broadband speed, damp
assessment and any boundary issues. This is an extremely valuable service if
you wish to renovate or carry out work on the new property once you’ve moved
in.
This type of
survey isn’t offered by RICS specialists but carried out by representatives
from the (Residential Property Surveyors Association) RPSA. The reports are independently
checked and produced in a consistent and reader-friendly format.
Building Survey
A Building
Survey or Structural Survey is an extensive report which includes lots more
detail about the property in question. A Building Survey is ideal for period
properties, or those which haven’t been built to normal construction standards.
Equally, if you wish to carry out a lot of renovation work on your new home,
you will need to invest in a Building Survey.
Unlike a
Homebuyers Report, a structural surveyor will take time to go into the attic,
look behind the walls, as well as go underneath the floorboards and above
ceilings. They’ll also give details about the necessary repairs, including how
much they’ll cost and how long they’ll take.
Here at Simon Levy, we offer a range of property
surveying services, including
full Building Surveys
. We want to
ensure that our clients are making a worthwhile purchase, whilst also getting
an idea of how much transforming your new house into your dream home is going
to cost. For a wide range of professional services offered by a team of
qualified chartered surveyors,
get in
touch
with us today.
