For most people, buying a home is the largest financial investment they will make. As with any major financial decision, it’s crucial to minimise risks wherever possible. While you can’t foresee market fluctuations, a Homebuyer Survey allows buyers to uncover any hidden defects in the property. Many homebuyers don’t fully grasp the purpose and importance of obtaining a survey before purchasing a house. A Homebuyer Survey identifies issues that could cost thousands in repairs down the road.
Conducting this survey will help ensure your investment in your new home doesn’t turn into an unexpected money pit. Protect yourself by learning precisely what a Homebuyer Survey examines and why it’s vital for all home purchasers. An ounce of prevention is worth a pound of cure when making this major financial commitment.
What is in a Home Buyer’s Survey?
A Home Buyer’s Survey includes a visual inspection of the property. this includes an inspection of all internal and external features, including, ceilings, the roof, bathrooms, windows, pipes and gutters. A surveyor will also inspect the heating, watered electrical/gas services at the property taking notes of anything concerning. if they do identify any fault they will provide you with advice on repairs and further maintenance that maybe deemed necessary. Here are the three main elements included:
- A physical inspection of the property.
- A report based on the inspection.
- An estimate of the cost of works within the report provided.
What is a (Level 2) Home Buyer’s Survey?
A level 2 Home Buyer’s Survey is conducted by a qualified RICS surveyor inspecting inside and outside of the property including any permanent outbuildings. the survey covers the as much of the property that is physically accessible. The surveyor will provide a written report of the property highlighting any visible defects alongside a proposed repair or maintained plan.
The surveyor will not force or open up the fabric of the building. This includes taking up fitted carpets, fitted floor coverings or floorboards; moving heavy furniture; removing the contents of cupboards, roof spaces, etc.; removing secured panels and/or hatches; or undoing electrical fittings.
How much is a Home Buyer’s Survey?
The cost of a home buyer’s survey varies from property to property, may factors such as the type of property, size age and location help identify the cost of the survey. Feel free to contact us to get a quote and recommendation to which survey is best suited for your property.
Are Home Buyer’s Surveys Worth It?
Home Surveys are a good way to avoid unexpected repair cost further down the line. If you want to have peace of mind when buying a new property carrying out a home survey is the best option for you.
If you’re unclear on whether you need a survey, which survey would be best suited for the property you’re purchasing, or need some additional reassurance, the best thing to do would be to contact Munday + Cramer to speak with a RICS Chartered Surveyor who will help advise you. Click here to get in touch with our expert team.