Do you need a survey when buying a home?

You’ve found your dream home and can’t wait to move in. Chances are, this will be your biggest investment to date. But with your moving costs quickly mounting up, you might feel tempted to skimp on a home survey. But is it worth the risk?

Buyers who skip a survey can face unexpected repair bills soon after moving in, and if you’ve already stretched your finances to buy the property, unexpected expenses shortly after moving will likely come as an unpleasant surprise.

Our conveyancing solicitors explain why they always recommend you invest in a home survey.

What is a home survey, and what information will it give me?

A home survey is a detailed inspection carried out by a qualified surveyor, which will provide information on:

• The condition of the property
• Any issues or defects in the property that need attention

Depending on the type of survey you get, your surveyor can also:

• Provide advice on necessary repairs and maintenance of the property, including estimated costs, helping you to budget for such work
• Highlight potential legal issues that need to be addressed by your solicitor
• Offer an independent view on the property’s value

What are the advantages of getting a home survey?

Not only will a home survey reduce your chances of getting stung by unexpected and costly repair work, but being aware of any faults or defects can provide you with a means to renegotiate a price for the property that takes into account these issues.

Alternatively, you could request that the seller repair any defects before you move in.

A survey may even lead you to reconsider buying the property altogether if you do not feel financially able or willing to purchase a property in need of significant work.

So while it may seem like further expense at the time, a survey could end up saving you money in the long run, along with a great deal of stress.

What type of survey do I need?

RICS, the professional body for surveyors, sets out three levels of home survey. The one you choose depends on the age and condition of the property, and whether you plan to carry out major work.

The three types of home survey are:

• RICS Home Survey Level 1 (previously the Condition Report). This is the most basic survey. It gives a surface-level view of the property’s condition, but doesn’t include advice on repairs or a valuation. It can suit a newer home in good condition.
• RICS Home Survey Level 2 (previously the Homebuyer’s Report). This goes into more detail than Level 1 and includes advice on repairs and maintenance. It suits most conventional homes in reasonable condition.
• RICS Home Survey Level 3 (previously the Building Survey). This is the most thorough survey. It’s best for older or larger properties, homes that have been heavily altered or need work, and any purchase where you’re planning major building work. It explains likely causes of defects and advises on repairs.

Your conveyancing solicitor can refer you to an experienced surveyor who will discuss your property, as well as the most appropriate survey and its cost.

I’m buying a new build. Do I still need a survey?

While a new build should have passed regulation inspections and be covered by an insurance certificate, it’s still worth investing in a new build snagging survey. This will identify any faults that the property developer can be asked to put right before you move in.

I’ve had a mortgage valuation. Do I still need a survey?

A mortgage valuation is for the mortgage lender’s benefit to ensure that the amount they’re lending you is less than the property is worth. A home survey, on the other hand, is for your benefit.

With a full and detailed picture of the condition of the property, you’ll have peace of mind that your big investment is also a well-informed one.

Buying or selling your home? Contact us for a no-obligation quote

For a free conveyancing quote, complete our short form. Our charges are transparent, and we quote for all fees and disbursements up front, meaning that you’ll understand the full extent of your conveyancing charges from the very start.

If you’d like further advice from our conveyancing solicitors in Bristol about buying or selling property, call us on 0117 325 2929.