Why do I Need a Property Survey?

When you’re spending a lot of money on a new property, a survey could seem like an unnecessary addition. However, it’s far better to be aware of any problems before you purchase a new home. This will ensure that you can make an informed decision about how much you’re willing to pay for the property and, if needs be, budget for any necessary repair work.

Who carries out a property survey?

A survey should only be carried out by a qualified surveyor, who should be a member of the Royal Institute of Chartered Surveyors (RICS). It’s recommended that you use an RICS qualified surveyor as they hold professional indemnity insurance.

Depending on the type of property being surveyed, you may want to instruct a local surveyor, who will have expert knowledge of the area, or an expert in usual types of property such as converted lighthouses, barns or even listed buildings.

What are the different types of a property survey?

There are three main types of survey:

A building survey

the most thorough type of survey and this offers a comprehensive analysis of the structure and condition of the property. varying on the size of the property it may take an entire day or perhaps more to carry out, as the surveyor will check the property in proper detail, including looking in the loft and under the floorboards. The survey lists any defects and advises on repairs and maintenance and you can ask for the report to include projected costs and timings of any repair work.

A condition report

This could be classed as the most simple survey, which offers an overview of the property’s condition and highlights any significant issues, but doesn’t go into too much detail. Different parts of the property are graded with a ‘traffic light’ rating system.

A HomeBuyer’s report

This is a more in-depth than a condition report, this type of survey takes between 2 – 4 hours to complete and will highlight any issues such as damp and subsidence, plus identify any areas of the property that may not meet current building regulations. The surveyor will only be able to identify surface-level issues. The survey will include advice on any necessary repairs and advised maintenance, plus a market valuation and any rebuilds costs.

At Simon Levy Associates, we are highly recommended building surveyors in Borehamwood. With over 30 years of experience, we provide impartial and expert property advice and can survey your property, checking for any defects along the way. We can survey your residential or commercial property of interest to produce reports that could help you determine whether or not it's a worthwhile investment. Contact us today for more information on building surveying in Barnet, Borehamwood and Watford and throughout South East England.