You don’t want to be like the person who bought a house only to regret your decision a few months after buying it. This can be prevented by getting a Home Survey. RICS research shows that on average home buyers spend £5,750 on repair bills once they have moved into their new home. Getting an RICS Home Survey will help with peace of mind on your home purchase and investment is very important. That’s why you need an RICS Surveyor to help you inspect the property you’re looking to buy.
Building Survey & Homebuyer Report
There are two choices, the Homebuyer Report or a Building Survey. Both survey types will help you uncover property defects and other issues of concern. Common property defects include;
- Damp and Condensation
- Subsidence or Movement
- Infestations; and
A homebuyer report typically starts from £400. The building survey, on the other hand is more thorough and costs a lot more. But aside from the price there are differences.
Homebuyer Report: A Brief Overview
If you need a general review of a property that appears to be in a relatively good condition and the property was built after 1900, you’ll be fine with a homebuyer’s report.
The RICS Surveyor will conduct a visual inspection to;
- Highlight potential concerns in detail
- Provide information on the property’s condition
- Identify urgent works and decisions that should be made before signing the contract
- Get an idea of whether the property is reasonably priced, and
- Determine whether to proceed or walk away from the purchase, etc.
Building Survey: A Brief Overview
The Building Survey is a far more comprehensive and thorough report.
If you’re looking at older property built before 1900, rundown properties, a property that has been altered or is an unusual building, then you need a Building Survey. This is also useful if you have plans for future works and alterations. While this survey is more thorough, it’s still non-invasive.
Building Surveys are carried out to;
- Provide details of the construction;
- Ascess insulation, damp-proofing, drainage, etc;
- Highlight the materials used in the construction;
- Highlight all major and minor structural concerns;
- Highlight major and minor defects and their implications;
- Provide an overview and estimate of the potential cost of repairs;
- Provide recommendation for other specialist inspections.
Homebuyer Report Vs Building Survey
The major difference between both of these Home Surveys is that the Building Survey provides a more comprehensive report on the property.
We’ve outlined some of the major differences between a RICS Homebuyer Report and the RICS Building Survey in the table below;
|Provides a general overview of properties||Provides a more detailed and comprehensive review of real estate properties|
|Best for bungalows, flats, and post-1960 constructions.||Best for larger properties, rundown buildings, unique or altered constructions, pre-1960 homes, and plans for future alterations.|
|Includes market valuation||May not include market valuation unless requested.|
|It’s a visual inspection carried out to highlight potential concerns.||It is a full structural survey that is more thorough and is the highest standard of survey you can get for any property.|
Finding a Surveyor
While you may get recommendations from friends and colleagues, you can also visit the RICS website to find credible and reputable RICS Surveyors in your area. Having peace of mind on your property is far better than paying huge costs to settle unexpected damages and defects.
While you’re not legally obligated to survey your potential property, it is the smartest decision to protect your investment. The cost of hiring an RICS surveyor will outweigh the cost of any unknown defects.
If you’re looking for a Building Survey or a Homebuyer Report Quote Contact us.