The Essential Guide to House Surveys for Homebuyers

Get in touch for a no-obligation chat about how we might be able to help you.
Your property may be repossessed if you do not keep up repayments on your mortgage.

Some buy to let mortgages are not regulated by the Financial Conduct Authority

What's On This Page?

Get In Touch

1 Step 1
Please tick how you would like us to contact you.
FormCraft - WordPress form builder

Clients often ask me about the importance and types of house surveys. Understanding the different levels of surveys and their benefits can greatly impact your decision-making process when purchasing a property. This guide aims to help you home surveys.

What is a House Survey?

A house survey is a detailed examination of a property’s condition conducted by a qualified surveyor. This inspection is crucial as it identifies potential issues that could influence your purchasing decision. Surveys are typically undertaken once an offer is accepted, and it’s essential to ensure that the surveyor is accredited by recognised bodies like the Royal Institution of Chartered Surveyors (RICS) or the Residential Property Surveyors Association (RPSA).

Types of House Surveys and Their Importance

Depending on the property’s age, condition, and your specific concerns, you might choose from several types of surveys offered by RICS and RPSA:

  • RICS Home Survey – Level 1: Ideal for newer, well-maintained properties, this basic survey provides a general overview using a traffic light system to indicate the property’s condition without detailed analysis.
  • RICS Home Survey – Level 2/RPSA Home Condition Survey: This is what is considered for most properties and provides a more detailed look at the property, noting issues like damp and potential subsidence. It’s particularly useful for properties in reasonable condition and includes advice on repairs and maintenance.
  • RICS Home Survey – Level 3/RPSA Building Survey: Recommended for older properties, those of unusual design, or properties in poorer condition. This comprehensive survey examines the structure and condition in depth, providing detailed insights and potential costs for necessary repairs.

The choice of survey should be influenced by the specific needs and conditions of the property you intend to purchase. For instance, a more thorough survey like the Level 3 is advisable if you plan significant renovations or if the property is historically significant.

The Cost of House Surveys

The cost of a house survey varies depending on the type of survey, the property’s size, and location. It’s advisable to get multiple quotes to ensure competitive pricing. Here’s a general guide to what you might expect to pay:

  • RICS Home Survey – Level 1: Costs between £500 and £950, depending on the property’s value.
  • RICS Home Survey – Level 2/RPSA Home Condition Survey: Typically ranges from £500 to £1,000.
  • RICS Home Survey – Level 3/RPSA Building Survey: Prices range from £700 to £1,500.

Although the initial cost might seem high, investing in a thorough survey can save you from unexpected and potentially more costly repairs after purchase.

The Value of a Detailed House Survey

Despite the costs, the value of conducting a thorough house survey cannot be overstressed. Recent findings from Countrywide Surveying Services show that less than 10% of homebuyers opt for a detailed survey. This is concerning, as a comprehensive survey can uncover issues that might not be evident in a basic inspection or mortgage valuation. Such insights give you leverage to negotiate price adjustments or request repairs before finalising the purchase.

Why Choose a House Survey?

Choosing the right level of house survey can save you time, money, and stress in the long run. It provides a clear picture of the property’s condition, helping you make an informed decision and prepare for any additional investments needed for repairs. Moreover, understanding the exact state of the property through a survey can significantly enhance your negotiating position.

In conclusion, while the expense of a house survey might initially seem just another addition to the already high costs of buying a home, its value is undeniable. As your mortgage advisor, I recommend always opting for at least a mid-level survey to ensure that your investment is sound and that you are fully aware of what you are committing to. Remember, being informed is key to a successful property purchase.

For more information, please get in touch

Mortgage Blackpool

Our Remortgaging Guide

Download our free guide filled with tips and information.

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE. We will NEVER sell or give away your information, however, the internet is not a secure medium and the privacy of your data cannot be guaranteed

1 Step 1
FormCraft - WordPress form builder