Purchasing a home is the largest single investment most people will make and the best way to make an informed decision as to the true value of the property investment is to commission your own Homebuyers Report, RICS Condition Report or Building Survey. It is a simple, economical way to avoid unpleasant and perhaps costly surprises after moving in.
An independent survey will help you to make a reasoned and informed judgment on whether or not to proceed with the purchase of your new home and establish if there are any drawbacks not already known about and if so what needs to be done about them.
For properties of conventional type and construction that appear to be in good condition, we would recommend either the RICS Condition Report or a RICS Homebuyers Report. A Building Survey is recommended for more unusual or older properties as it is more detailed and tailored specifically to look for structural issues and problems.
Sometimes issues raised in a survey will enable you to renegotiate the purchase price making the report very cost effective as you have clear evidence as to potential pitfalls.
Our reports are clear and straight forward and we welcome discussion both before and after the survey so that all issues are fully understood.
We would be delighted to advise you on the best type of survey for your property, please contact us on 01423 534 189.
Below are the three main types of surveys available when buying a new home:
A Homebuyers Report aims to help you to decide whether or not to proceed with the purchase of the property. It also includes a valuation and so ensures that you are paying what is considered to be a reasonable price in the market. The report is in a format designed by the RICS and will outline any urgent or significant defects to your potential new home and whether or not they will have an effect on the value. It provides clear information on actions that need to be taken before contracts are exchanged.
Costs start from £350.00 +VAT (£420.00 inc. VAT)
A Building Survey is the most detailed pre-purchase survey. It is recommended for less standard properties that are perhaps older or listed, built using non-traditional methods or extensively altered or extended, and in particular for buildings which are known to have structural problems. This type of report includes photographs, a detailed analysis of the building and any structural considerations with advice on future maintenance and repairs. A market valuation and insurance valuation can be provided at extra cost.
Costs start from £500.00 + VAT (£600.00 inc. VAT)
The RICS Condition Report is designed to complement the mortgage valuation, which is a brief report commissioned by the mortgage lender. It is very cost effective and offers a concise overview of the condition of a property including a brief description of its construction and condition, highlighting any major risks and legal issues. However it does not include a market valuation or advice on any repairs or maintenance required to the property.
Costs start from £250.00 + VAT (£300.00 inc. VAT)