If you’re in the process of buying a home, you may have come across the term “homebuyer’s survey.” But what exactly is a homebuyer’s survey, and why is it important?
At River Crest Surveyors, we offer impartial advice and professional, RICS-approved building surveys for clients throughout the south of the UK. Our experts work hard to break down the jargon within the property industry, helping you make the most informed decision. Keep reading to find out more about the purpose of a homebuyer’s survey, the different types available, and how it can benefit buyers.
Defining a Homebuyer’s Survey
A homebuyer’s survey is a detailed inspection of a property conducted by a qualified surveyor. Its purpose is to assess the condition of the property and identify any potential issues or defects that may affect its value or require costly repairs in the future. The surveyor will thoroughly examine both the interior and exterior of the property, including its structure, plumbing, electrical systems, and overall condition.
In England and Wales, it is not a legal requirement to get a survey of a property during the buying process, however it is highly recommended. If there is a problem with the house, a homebuyers survey can highlight this, which can be used as evidence to help renegotiate the sale price.
The Importance of a Homebuyer’s Survey
One of the key reasons why a homebuyer’s survey is essential, is that it can uncover problems that may not be immediately apparent to the untrained eye. While a property may look fine on the surface, there could be underlying issues that could lead to significant expenses down the line. By investing in a homebuyer’s survey, you can gain a comprehensive understanding of the property’s condition and make an informed decision about your purchase.
Types of Homebuyer’s Surveys
There are different levels of homebuyer’s surveys available, depending on the age and condition of the property:
Level 1 Condition Report
This report is the least detailed, offering a brief assessment of the property’s condition.
Level 2 Homebuyer Survey
This report provides an inspection of the main features of your property, and is most suitable for conventional houses, flats, or bungalows built from common materials and in reasonable or good condition. The Level 2 Building Survey highlights causes for concern and advises repairs and maintenance.
Level 3 Building Survey
Also known as a ‘full building survey’, ‘full structural survey’, or a ‘level 3 building survey’, this report offers in-depth detail about the condition of your property. The assessment highlights potential issues, including any hidden defects and the impact of any future repairs. This report is suited best for older or non-traditional buildings which may be in poor condition or have structural complexities, which require a more in-depth approach to the survey.
Technology such as thermal imaging and drone footage in Level 3 Building Surveys can help uncover hidden issues such as water damage and roof damage, providing highly accurate mapping of your property.
Professional Homebuyer Surveys from River Crest
A homebuyer’s survey is a crucial step in the home buying process. It helps you understand the condition of the property and identify any potential issues that may require attention. Here at River Crest Surveyors, we are committed to providing you with the most accurate and in-depth building surveys to help you make an informed decision. With our RICS accredited surveyors, you can rely on us to provide a high standard of service.
Speak to a member of our expert team of surveyors today about our homebuyer reports by calling 023 8129 0888 or by completing our online quote form.
