Are house surveys worth it?

3-10-2017
House Surveys

House Surveys

House Surveys – When you’re buying a property, there are plenty of additional costs to pay on top of the price you agreed, not least stamp duty of up to 5% and solicitors fees, so you may be forgiven for forgoing the additional cost of a survey on the home.

However, it’s something you may live to regret. If you end up buying a place which you didn’t realise has a roof that needs serious work, or has terrible damp issues, it could end up costing thousands to put right.


Highlighted problems during house surveys can be a bargaining tool.

House Surveys – Theres a good chance that you could have had this knocked off the price you paid, if you’d managed to discover the problems before purchasing your new home! Surely getting a survey should be second nature?

Well it’s not, it is actually estimated that only around a third of home-buyers understand the importance of arranging house surveys before they end up committing to the purchase.

Remember – A mortgage valuation is for the benefit of the lender, while a survey is for YOUR benefit. (Click below to find out more)

Mortgage Valuation is not a Survey

What makes house surveys useful?

 

A thorough survey can be very useful in helping you to identify the potential sorts of problems a home may have, which you’re not able to by simply looking yourself.

From the need to re-wire a home, to major faults with walls and ceilings, a survey may identify something which could put you off buying a place altogether, or at least act as a bargaining tool for lowering the price.

If, for example, it’s estimated a home needs around £6,000 spending to put a damp issue right, it’s very common for the seller to agree to come down by that amount, or even more as there’s clearly risk involved.


Types of house surveys we provide

 

Here are the types of House Surveys we provide:

 

House Surveys     House Survey - Homebuyer report

This is a detailed survey which is supposed to reveal any major issues, such as dry rot & obvious cracks. However, keep in mind that it is a ‘non-intrusive’ survey, so the surveyor wont be pulling up floorboards, crawling around roof spaces or testing wiring. The Homebuyers report provides a valuation figure & a re-build estimate.

 

House Surveys  House Surveys - Building Survey

The Building Survey is the highest quality of survey, in the fact that it is the most detailed and will identify major problems with the property.

It’s a very intrusive survey, as the surveyor will be going up into roof spaces, looking under floorboards and behind walls, and checking ceilings/the buildings general structure.

A Building Survey offers advice on repairs, including estimated timings and costings. It will also tell you what may happen if you dont have the repairs done.

 

If you’d like a little further information house surveys, ensure you read up on our guide to house surveys below;

Guide to Surveys

 

Refer to our FAQ’s for some further in-depth information regarding house surveys

FAQ's

We help you get the most from your survey

 

How good your survey is seems to come down to your survey choice, that is why we only offer the highest quality house surveys (Homebuyer & Building Survey).

It also comes down to the surveyor, which is also why we dont employ just anyone. We ensure our surveyors are of the highest quality standard.

All of our surveyors are experienced in Residential Survey and Valuation work, they must either be MRICS or FRICS qualified, and hold the required licences.

We help you get the most from your survey – If you have any questions whatsoever, please dont hesitate to contact us.

House Surveys

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