Buying a new home can be a bewildering process. Some things can be a little unclear at times, and this is certainly true when it comes to surveys. Are you wondering what a survey is or how much they cost? And do you want to know who organises a survey when buying a property or even if you need to get one at all?
What Is a Survey?
A property survey is an inspection of the condition of the building, which is carried out by a qualified expert. When you’re looking to buy, a chartered surveyor takes a detailed look at it to assess the overall condition of the building. Problems that can be pointed out range from minor cosmetic issues to major structural concerns, allowing you to make an informed decision on whether to proceed with your purchase.
As well as identifying potential problems such as dampness, a survey also provides you with an in-depth report on the overall condition of a property. This can include anything from how the walls and roof are constructed to the state of kitchen units, what insulation there is and how windows and doors are glazed. The survey will then advise what repairs and improvements are required to bring a property up to an acceptable standard.
Is a Survey Essential? Legally, no,
A full homebuyer survey is not essential. However, buying a home is usually the most expensive purchase you’ll ever make, so it’s a very good idea to obtain a thorough survey before you part with your money and mortgage lenders insist on them.
Different Types of Surveys & The Process of Buying
Some of the language used in the home-buying process can be confusing. Conveyancing solicitors often call checks on the local area ‘searches and surveys’, which are different to a house survey that inspects the condition of the building itself. Mortgage companies also carry out valuation surveys to ensure you’re paying a fair price for the property. The Royal Institution of Chartered Surveyors (RICS) bands into three levels and we can provide further information about the right survey for your property purchase.
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