What Type of Property Survey do I Need?
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.
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.
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.
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.
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.
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.
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.
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.
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).
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.
