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Is a Homebuyers Survey Worth It?

A question we are often asked is ‘Is a homebuyers survey worth it?’ This is often asked because people want to know if it’s worth spending the extra money during what is already a very expensive process.  However, according to

A question we are often asked is ‘Is a homebuyers survey worth it?’ This is often asked because people want to know if it’s worth spending the extra money during what is already a very expensive process.  However, according to RICS, it’s simple as forewarned is forearmed. Choosing the right survey will help highlight any serious problems and advise you of the specific risks before you commit to the process of buying or selling a property.

Buying a house is the largest most of us will make in our lifetimes and investing in a survey will give you peace of mind before you commit to purchase. There are different types of survey available depending on your requirements.

Level 2 (Homebuyer ) Survey

This is the most popular survey as it is suitable for most conventional houses, bungalows and flats. This survey is not suitable for houses that in a serious state of disrepair, a building survey may be more suited to this type of property. Similarly, if the building is of an unusual construction, such as a steel frame house, a building survey carried out by a RICS surveyor with experience of this type of construction may be better suited to your needs.

A Level 2 (Homebuyer) Survey is a survey carried out by a chartered surveyor. This is a non-invasive survey, which means that floorboards are not lifted, however, the survey will go into detail about the condition of the interior and exterior of the home as well as looking at the condition of features and fixing – electric, gas, heating and plumbing. It is recommended that it is made as easy as possible for the surveyor to access as much of the property as possible so that the survey can be as thorough as possible.

Once the survey is completed the surveyor will compile a clear concise 30-40 page written report highlighting the condition, the report is split into main elements of the building such as roofs, walls and floors. It is compiled in an easy to read traffic light system (red amber & green) to rate urgency of any repairs and will contain advice on any matters to be checked by your legal advisor such as guarantees or consents for any alterations or extensions. There will also be information and advice about any hazards or risks to the property or people.

Surveyors at Avery & Co will listen to any particular concerns you may have before we inspect the property and once you have received your report, we are happy to advise and explain anything further that you are not sure of. Our surveyors are all very approachable and will always be happy to speak with you to help put your mind at rest.

Is a Homebuyers Survey Worth It?

When asking yourself if a Homebuyers survey is worth it, it is a good idea to look at the benefits to having one. They provide several benefits such as:

Peace of mind

Buying a home is a huge financial and emotional investment. Buying a property without any idea of potentially serious structural defects could mean that your dream home quickly becomes a nightmare. Having a survey done will provide you with the peace of mind knowing that your investment has no serious faults that you will have to sort out once you move in.

Negotiating Power

Having a Homebuyer Survey will allow you to see what you may have to spend on the house once you have bought it. If the survey reveals issues such as damp or the need for a rewire, this then puts you in a stronger position to renegotiate the asking price to reflect the level and cost of work that will be needed. If the vendor wants to sell they will be much more likely to negotiate when presented with the facts.

Save Money

A Homebuyer Survey will flag up issues that need attention. Some of these areas may not require immediate attention but having them highlighted means you are aware of them and can take action to prevent any problems worsening. This will save you money in the long run as dealing with smaller issues is far more cost effective than not knowing and waiting for them to become large (and costly) problems.

Yes, a Homebuyers Survey is worth it!

We understand the expense involved in buying a home and that a survey can feel like just one more expense, but having one done could be seen as an investment in your home. You will know if there are any serious structural faults or any other areas that you need to be mindful of. You will be negotiating your purchase from an informed position as well as being able to plan timely repairs on any smaller problems that the house may have.

Avery & Co is a family business with RICS Chartered Surveyors based across the north west and north Wales. We offer an independent service to our clients and pride ourselves on being friendly and approachable. If you would like to discuss having a survey done, or what to find out which survey type is best for you, please feel free to get in touch via our website or give us a call on 0151 321 2000, we would be happy to talk you through your options and see how we can help.

 

 

 

 

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