Buying a
home is likely to be the biggest purchase any of us will make during our
lifetime, so naturally you want to feel confident that there are no major
issues before going ahead. From damp to hidden structural damage, there can be
many potential problems with a property which you may not spot at first glance.
One way to
put your mind at ease, and ensure you have a full picture of the property’s
condition, is with a property survey. These provide a detailed inspection of
the property to check for any issues, as well as an expert overview of features
such as the type of wall materials and window glazing. There are actually
several different types of property survey available, and the type you choose
will depend on the sort of property you buy. For more information about these
different types of surveys and how they can help, see our handy guide below.
What is a property survey?
A property
survey is carried out by a professional chartered surveyor, who will examine
the condition of your home in various levels of detail, depending on which type
of survey you have chosen. As mentioned, a survey can highlight any structural
problems or other damage which could cause issues in the long run. There are
several types of survey, including a homebuyer’s report, building survey and
condition report, which we will explain in more detail later on.
Why get a property survey?
Some buyers
believe that a property survey is not worth the extra cost after the expense of
buying a house, but there are several good reasons to invest in a property
survey which will serve you well in the long run.
Buying a
property is a huge investment, so naturally you’ll want to make sure there are
no issues before going ahead. A property survey can offer you peace of mind
and, while the results may be unwelcome, often the survey is carried out before
the sale is finalised, so you have the option to back out if any repairs needed
are too costly.
Having full
transparency of the property’s condition can also help with the negotiation
process if you are yet to complete the sale. If any repairs needed run into the
thousands, you may be able to get the amount knocked off the price of the
property, or arrange for the repairs to be completed before the sale is
finalised. A survey also adds an extra level of security as you know exactly
which issues have been identified, or whether the company is accountable for
missing something discovered after you move in.
Quite
simply, it also takes a lot of the stress out of moving house, which is
difficult enough with all the packing and logistics required. The last thing
you want is to move into a new property only to discover some damp, missing
roof tiles or cracked windows. Knowing about any issues upfront ensures that
the house will be ready for you to comfortably move into when the time comes.
Types of survey
There are
several different types of house survey that go into varying levels of detail,
and the most appropriate type will depend on several factors, including the age
of your property, construction type and its existing condition. Some surveys
are certified by the Royal Institute of Chartered Accounts (RICS), and there
are several other surveys which may be less in depth, but can be just as
valuable. For more information about each type of property survey, read on.
RICS Condition Report
This is the
most basic type of survey available, and simply covers the condition of the
property, including identifying any risks, urgent defects or legal issues which
may arise. It does not include a valuation of the property or any extra advice,
so is most suitable for new build homes, or those with a conventional structure
that are already in good condition.
RICS Homebuyer Report
This type of
survey is more detailed, but still best suited to a property in reasonable
condition which has not been altered significantly since it was first built. A
homebuyer report will inspect any areas which are visible and easily accessible
for signs of damp, structural damage, and any other potential issues both
internally or externally. It also includes an assessment of any other permanent
structures on the property, such as a garage.
The
condition rating is based on visual inspection only, and this type of survey
does not include the examination of hidden areas such as behind walls or under
floorboards. However, it does include ongoing maintenance advice for the
property, and some homebuyers reports will include a property valuation too.
RICS Building Survey
This type of
survey provides the same level of detail as a full structural survey, but it
uses a clear ‘1,2,3’ rating system and accessible presentation style to help
you easily identify any issues at a glance. A building surveyor will provide a
detailed report and assessment of the property’s condition, including advice on
any defects and necessary repairs, maintenance options and a range of RICS
advice sheets covering repair solutions and the consequences of leaving any
issues unattended.
This type of
survey is best suited to older or larger properties, or if you are planning
major building work or renovations after moving in.
New-Build Snagging Survey
These
inspections are carried out by independent companies, and look at any potential
issues with new build homes before they become occupied. It isn’t as in depth
as a full structural survey, but can identify any potential problems with your
new build, from something small and cosmetic like a scratched window or missing
hinge, to any larger structural problems. It is predominantly a visual survey
to ensure the new build is up to the highest of workmanship standards.
Mortgage Valuation Survey
This is a more
specific type of survey, designed to reassure your chosen mortgage lender that
the property you plan on buying is worth the price it is valued at. A mortgage
valuation survey won’t identify any potential faults or structural problems, it
is simply there to help with your mortgage application process and ensure you
get the value of loan required.
Some lenders
offer a free mortgage valuation as part of the deal, or you can pay
independently for around £150. If then property is valued at lower than your offer
price, you can either negotiate with your estate agent to make a lower offer,
or provide evidence that the property should be valued higher (for example,
comparisons with similar properties for sale in the area).
Full Structural Survey
The most in
depth type of survey available, a full structural survey is suitable for any
type of residential property, but is particularly useful for older homes or
those already in obvious need of repairs. A chartered surveyor will take a
comprehensive look at the property, including the materials used, the condition
of the roof and how strong the structure and foundations of the building are.
It can also offer advice on future maintenance, defects and repairs
If you’re in need of professional chartered
surveyor services for your property, get in touch with Simon Levy Associates.
With over 30 years of experience, we offer a full range of in depth building
and structural surveys, including detailed inspections of damp penetration,
timber decay, flooring, plaster, staircases and much more. We can also assist
you with a number of further expert services, including insurance claims,
planning permission and settling boundary disputes. For more information or to
find a surveyor for your property, give us a call today or
visit our website.
