When you’re considering the purchase of a home, a home survey is a crucial step in ensuring that your investment is sound. This type of survey, typically conducted by a professional property surveyor, can help identify any issues or potential concerns with the property before you commit to buying. The cost of a home survey can vary depending on several factors, including the size and type of the property and the level of detail required in the survey.
A home survey is more than just a tick-box exercise; it’s an in-depth look at the condition of your potential new home. Conducted by a surveyor, often a member of the Royal Institution of Chartered Surveyors (RICS), the survey aims to uncover any hidden problems with the building. Chartered surveyors with RICS accreditation, like the team at Survey Hut, are recognised for their expertise and adherence to high standards, which provides you with assurance that the survey is thorough and reliable.
The cost of the survey will depend on the level of detail you choose. There are different types of home surveys, ranging from a basic condition report to a more comprehensive Level 3 inspection. Each comes with a different cost attached, and it’s important for you to understand what’s included in each type to make an informed decision. Investing in a quality survey could save you money in the long run by helping you avoid unforeseen repair costs.
Understanding Home Surveys
Before committing to a property, it’s wise to ensure you have all the information about its condition. A home survey can be the key to unlocking this insight, but there are other options available, too.
Types of Surveys Offered
Level 1 – Condition Report: A basic overview that points out significant concerns and safety issues without any detailed exploration or repair advice.
- Detail Level: Minimal
- Advice on Repairs: No
- Technical Information: Limited
Level 2 – RICS Home Survey Level 2: Offers a balanced examination, identifying current issues and anything that could lead to future problems. It informs you on necessary repairs and maintenance.
- Detail Level: Moderate
- Advice on Repairs: Yes
- Technical Information: Moderate
- Survey Hut’s Level 2 PLUS Surveys use a drone to check the chimney, roofs and gutters, and a thermal imaging camera to check for damp.
Level 3 – RICS Building Survey: The most comprehensive option, providing an in-depth analysis of the property’s condition, as well as technical advice on repairs.
- Detail Level: Extensive
- Advice on Repairs: Detailed
- Technical Information: Advanced
- Survey Hut’s Level 3 MAX Surveys offer extra reassurance about the condition of services such as electricity, gas, and heating!
Deciding the Right Survey for Your Property
The choice between a Condition Report (Level 1), a HomeBuyer Report (Level 2), and a Building Survey (Level 3) will largely depend on the specifics of the property you’re interested in.
- Older or Unusual Properties: Consider a Level 3 Building Survey to understand the structural integrity in detail.
- Conventional Homes in Reasonable Condition: A Level 2 Survey is often suitable as it provides a good balance of detail and advice, without being as exhaustive as Level 3.
- New Builds or Simple Transactions: A basic Level 1 Condition Report can suffice.
The RICS Home Survey Level 2 can be a valuable tool for gaining insight into maintenance needs and planning for repairs, potentially giving you leverage in negotiating the property price. When reviewing a HomeBuyer Report, attention must be paid to the surveyor’s findings, categorised with a traffic light system to indicate the severity and urgency of defects found.
Cost Factors and Estimates
Before deciding on a home survey, you need to be aware that the cost is influenced by various factors, including property size and the level of detail the survey provides.
Size and Location of the Property
The size of the property you’re interested in directly impacts the survey cost. A smaller flat will usually be less expensive to survey than a large detached home. Geographical factors play a part too, as properties in urban centres might carry different survey costs when compared to rural or hard-to-reach areas.
Differing Costs: Basic to Comprehensive Surveys
When selecting a type of home survey, you choose between basic and more thorough inspections. A basic Condition Report, while less detailed, is more affordable, whereas a Building Survey offers an extensive check but costs more.
- HomeBuyers Survey (Mid-Level): from £375
- Building Survey (Comprehensive): from £575
Remember, a pricier survey doesn’t automatically equal better quality. It’s about finding a reputable and thorough surveyor, as the correct survey could help you avoid costly repairs down the line. Also, a detailed survey can include a valuation and estimated cost of rebuilding, foundations key to negotiating the property’s price.
Potential Issues and Defects Uncovered
A HomeBuyer survey is a crucial step in assessing the overall health of a property you’re considering. Hidden problems could result in substantial financial burdens down the line.
Identifying Deadly Defects
Structural defects rank among the most critical findings a survey might uncover. Repairs for structural issues are often complex and costly, emphasising the importance of early detection.
- Major faults that compromise the building’s integrity, such as bulging walls or roof collapse risks, will be highlighted.
- Urgent problems that require immediate attention to prevent further damage or danger to the inhabitants.
Spotting Damp Issues
Damp is another prevalent problem in UK houses that surveys can identify. Not only can it cause cosmetic damage, but it can also lead to health problems for residents and exacerbate underlying structural issues.
- Rising damp is detected by tell-tale tide marks on walls and can be addressed with various damp-proofing measures.
- Penetrating damp often arises from issues with the building envelope, including faulty roofing, windows or guttering.
- In severe cases, damp can result in rot in timber elements and may even attract woodworm, leading to further deterioration.
Leveraging Survey Insights
Before you leverage your home survey findings, it’s important to know how they can influence your next steps. This survey not only provides clarity on the property’s state but also arms you with vital information that can impact your financial decisions.
Negotiating on Price Following Survey Insights
Once you’ve received your house survey report, it’s time to examine how the insights can affect the property’s worth. Significant issues such as structural defects, or proof of damp could potentially devalue the property. Armed with precise details of the property’s condition:
- Document Problems: List down and highlight critical issues found.
- Estimate Repair Expenses: Calculate the costs of necessary repairs.
- Adjust the Offer: Potentially negotiate a lower purchase price, factoring in these expenses.
Present your case to the seller with these clear and documented facts to justify your renegotiation on the property’s price.
Planning for Maintenance and Future Repairs
A detailed survey can outline what might need fixing now and what will require ongoing maintenance. Use this information to:
- Prepare Financially: Set aside a realistic budget for current and future upkeep.
- Consult Professionals: Speak with builders or contractors for quotes on significant repairs.
- Evaluate Mortgage Implications: Determine if repair costs affect your mortgage terms or require an increased investment.
Get in touch with Survey Hut today for a comprehensive Home Survey. We are held to the highest professional standards by the RICS, so you know that you’ll get a high-quality report. Make sure your perfect home, is perfect.
