Why you should get a house survey when buying a home

If you’re considering purchasing a home, whether that’s for the first time or the third time, it’s important to know everything about the property inside and out before making an informed decision for peace of mind. That is where a house survey comes in.

Let’s look at the reasons why you should get a house survey when buying a home!

What is a house survey?

A house survey is a detailed, visual inspection of a property’s condition and is carried out by a qualified surveyor to help identify any hidden structural issues like subsidence, or potential risks that could end up costing thousands in maintenance costs and repairs.

According to a recent research by Direct Line Home Insurance, of the 100,000 home sale purchases in the 2019/2020 financial year, a quarter of homebuyers who didn’t have a survey we’re hit with on average £3,676 in property repair bills.

Using the information provided to you can be a big deal breaker when it comes to the price of the property; giving potential buyers room for negotiation, the freedom to pull out of a sale and avoid any unpleasant surprises in the long-run.

The types of surveys

There are three main types of survey which are recognised by The Royal Institute of Chartered Surveyors (RICS):

1. RICS Condition Report

This is the most basic survey, and gives an overview of any defects or urgent issues using a traffic light system and costs around £300. This is better suited for modern, standard homes, but does not offer advice or a valuation.

2. RICS HomeBuyers Report

A Homebuyers Report is a little more detailed than a Condition Report and costs between £400 - 900. It outlines the more obvious issues and factors that could affect the property’s value, such as damp, woodworm, drainage or insulation.

However surveyors are non-intrusive, meaning they won’t look behind furniture or under floorboards, so the report is limited. But surveyors will estimate the cost of rebuilding a property for building insurance purposes.

3. RICS Building Survey

Otherwise known as a Full Structural Survey, this is the most comprehensive survey you can get for £500 or more depending on the size of the property.

This is especially good for older, unusual or listed houses, assessing pretty much everything from the smallest to the biggest defects with advice on costs and timings of repairs.

Surveyors are also a lot more ‘hands on’ in terms of checking the attic, behind the walls, flooring and condition of the electrics.

How to get the most out of your house survey

Now you know what’s included, you’ll want to get the most of a house survey, regardless which type you choose.

For starters, find a local surveyor who knows the area and the types of properties that are suited to your needs. For example, Torus Chartered Surveyors offer house surveys in Altrincham and across the Greater Manchester region. It’s always good to ask questions or raise specific concerns with the surveyor before and during the survey too - after all you want your dream property to be in top notch condition for when you move in!

So, should I get a house survey when buying a home?

Even though it isn’t mandatory, buying a home is most likely the biggest and most expensive purchase you’ll ever make, therefore spending a couple of

hundred pounds for a clear, accurate view on the property you want to buy is a worthwhile investment.