A Homebuyers survey is worth considering whether you’re buying your first property, downsizing, upsizing or purchasing a property as a business investment, you need to feel comfortable you’re making the right decision. The last thing you need is to be confronted by any unpleasant and potentially expensive surprises once you own the property.
Having a survey done is one of the ways that you can ensure you’re making the right decision, and in this blog, we will look at one of the RICS’s most popular surveys – the HomeBuyer Survey.
What is a HomeBuyer Survey?
A RICS HomeBuyer Survey is a non-intrusive, visual inspection of the property’s condition and will help establish if there are any structural problems such as subsidence or damp.
Also known as a HomeBuyer Report, it is carried out by RICS chartered surveyors. As the surveyor won’t lift up floorboards or carpets or move furniture, it is mostly suitable for conventional and modern homes that are generally in good condition. If you are buying an older, non-standard property or something that is a bit more dilapidated, we would highly recommend going for the more detailed Buildings Survey, as this will help uncover less visually obvious issues.
What does the HomeBuyer Survey include?
The main reason people opt for a HomeBuyer Survey is that it provides valuable advice on repairs and any ongoing maintenance issues that need to be investigated.
Your HomeBuyer Report will:
- Describe the construction and property’s condition on the date of inspection
- Include a visual inspection of all major indoor features, including ceilings, walls and bathrooms.
- Provide an inspection of the outside of the property including roofing, pipes and gutters, walls, windows and outside doors and also any permanent outdoor buildings.
- Inspect the visible parts of the heating and drainage systems as well as the electric, gas/oil and water services.
- Identify any areas that need urgent attention or any that need to be investigated further
- Inform you about problems that may be dangerous
- Identify areas that you will need to consult a legal advisor to investigate further.
RICS HomeBuyer Reports also include a market valuation of the property as well as a reinstatement value.
We often get asked how much is a HomeBuyers report survey? As with all surveys, the price will depend on the size and value of the house, but costs start at £400 on average.
So, a HomeBuyers survey, is it worth it?
In a word, yes! As you can see from the HomeBuyer Survey checklist above, it provides you with a lot of valuable information that will help you in your purchase. Here are our top 3 reasons why you should always consider a HomeBuyer survey if you’re buying a new property.
1. Gives you peace-of-mind before you buy
Buying a property is often the biggest investment you will make in your life, so you will want to be 100% certain it’s the right decision. A survey will highlight if there are any major problems or concerns, so you have the opportunity to walk away before it’s too late.
2. Provides a valuation reflective of the condition of the property
RICS HomeBuyers Survey reports include a property valuation, which is based on the condition of the property, market trends and comparable properties in the area. If the Report identifies work that needs to be done urgently, you can reflect this in any offer you make.
3. Protect your finances
Buying a home is expensive and the last thing you need is to have a load of unexpected repairs and maintenance costs. A survey will not only identify both short-term and long-term repairs but will also provide you with useful advice on ongoing maintenance requirements, so you can budget for the real cost of moving home.
A local chartered surveyor you can trust
If you are still unsure whether you need a HomeBuyer Survey or a RICS Building Survey, then get in touch for a free initial assessment and quote.
We provide a number of RICS Home Surveys, including building surveys so can advise you on the different type of survey, and discuss which one would be right for you. And as chartered surveyors, fully regulated by the Royal Institute of Chartered Surveyors (RICS), you can be confident you will always receive a thorough and professional service.
If you’ve just purchased your property and are planning any works, don’t forget to take a look at our advice on Party Walls. As local, qualified Party Wall Surveyors, we are happy to offer any guidance or assistance you may need.