Should I get a survey when buying a house?

Are you purchasing a property, and aren't sure whether to get a survey? My advice would be, don't take the risk. 

For most clients, purchasing their family home, is the biggest financial commitment of their lives however 80% of buyers nationally don’t commission a professional survey before exchange of contracts according to The Royal Institute of Chartered Surveyors (RICS).

Most mortgage lenders will carry out a mortgage valuation report on the property however a Valuation Report is a basic inspection of a property that will determine its value. A property surveyor will look at the property's location and condition to set the value.

It's important to note that a valuation report is not a house survey, only major defects maybe picked up in this report they will not highlight any issues which are deemed irrelevant to the mortgage lender but could cost you, the future homeowner, an average of £5,750 in repair bills. A recent RICS’ survey shows it is the young and first-time buyers who are at particular risk, with a lack of understanding of the home buying process so its really important to take professional advice before exchange of contracts.

The type of survey you need depends on the age and construction of your property;

Homebuyer Report

A HomeBuyer Report is a survey to find and document any issues which could cause damage and need future repairs, such as damp or subsidence. A HomeBuyer Report is carried out on homes that are in a reasonable condition and only checks for easily visible problems.

Building Survey

This is the most in-depth survey and provides you with a detailed analysis of the property’s issues and condition as well as advice on defects and repairs. It's the best choice for older properties that require more detailed advice.

Still undecided? Please feel free to contact me to talk through your options

Athina Morse

Head of Sales Progression

 01746 770002

[email protected]