If you’ve ended up on our blog then you’ll have done your homework and understand that getting a survey when buying a property is a very important step. In fact, the Royal Institute of Chartered Surveyors (RICS) have researched that properties who have not had a survey will face an average of £5,750 in repair bills due to hidden defects.

With this in mind, it is important to know what type of property survey is right for you and how to get the most out of your survey. Even though your mortgage lender may issue a valuation it won’t report on the property’s condition – only its monetary value to ensure that they have security for the loan.

Our primary aim is to help our customers and clients with accurate, independent and professional property advice.  We offer Valuations, Homebuyer Reports and Building Surveys for a wide variety of customer needs. Which type of property survey is right for you?

Type of property survey: Homebuyer Report

A HomeBuyer Report is a survey, which is available with or without a valuation report, outlining the condition of the property on the day of inspection. This is the most popular type of report for buyers and can be carried out at the same time as a valuation report if you choose to.

The report is set out in clear sections addressing each aspect of the property such as the roof, walls and services, its condition and on-going maintenance.

This uses a traffic light system of red, yellow and green to illustrate the urgency of issues and repairs.  This report also includes a section detailing issues for your legal adviser, a market valuation and a recommended insurance rebuilding cost. A Homebuyer Report is generally considered suitable for the traditional property.

During your Homebuyer Report, your surveyor will inspect all the visible elements of the interior and exterior of the property, this can even include the property’s drainage, loft and gardens. They’re looking for any risks of defects the property might have to its construction or general condition and provide a valuation and any reinstatement costs.

Overall, a Homebuyer Report takes approximately 2 hours to complete and is usually sent to you within five working days.

You should consider a Homebuyer Report if:

• You are not considering major alterations or renovation
• You are looking to buy a house, bungalow, or flat that is in a reasonable condition
• The property is of traditional construction

Type of property survey: Building Survey

A Building Survey report is a detailed survey inspection.

The report is divided into sections covering property information, condition advice using repair categories and repair cost banding, future maintenance. It usually takes around 3 hours to complete and is sent to you within 6 working days.

If you’re looking at buying a property that is old, run down or of an unusual construction, then we recommend a Building Survey as it can be tailored specifically to your needs. Alternatively, if you’re planning to carry out conversion or renovation of the property, or previous owners have extensively altered the property then we also believe a Building Survey is the best option for you.

A Building Survey includes:

• A full inspection of all visible elements of the interior and exterior of the property
• Identification of any risks, defects, or significant damage
• Full details of the construction, materials, and general condition of the property
• Comments on the damp proofing, drainage and insulation
• Photographs

A Building Survey does not include a valuation, however, at an additional cost your building surveyor may be able to provide you with one if they are qualified to do so.

If you have used the Help to Buy scheme and are now in a position to re-mortgage your home and start repaying your loan, then you will need to get a RICS regulated valuation. This is another service we can provide.

We’re experienced in advising Help-to-Buy clients throughout the North West and North Wales. Our reports fully comply with the requirements of the scheme and we produce specifically designed Help-to-Buy Valuation Reports.

Our valuer will usually spend no longer than 45 minutes at the property. After the inspection, we can usually provide you with a report within 5 working days.

Avery & Co are specialists in the provision of valuations which comply with the Government Help to Buy Scheme and RICS standards. Our friendly team will guide you through the process of every type of survey we provide simply and quickly. If you’d like more information, please do get in touch, we would be happy to help.