Choosing to invest in a Home Survey is an important decision to make during the home buying process. With a variety of survey options available, you should ensure you choose the most beneficial for you and the property you are buying.
To understand how much to expect to pay for a survey, we should first look at what a HomeBuyer Survey is.
A HomeBuyer Survey is recommended for:
- Residential properties built after 1800
- Conventional buildings using traditional or common building materials
- Properties in a reasonable condition
HomeBuyer Surveys benefit property buyers by highlighting elements of a building requiring either immediate attention or maintenance in the short to medium term. This gives you, the buyer, an indication of the pitfalls involved in purchasing a particular home. This invaluable information reduces the risk of unnecessary surprises upon completion of the purchase.
Do I need a House Buyer Survey?
Research has confirmed that buying and selling a home is one of the most stressful life experiences. Alongside the considerable financial investment, identifying any issues or problems with the property is one of the easiest ways to secure the future of your home.
In Scotland, houses for sale have to be marketed with a Home Report. In England and the rest of the UK, however, surveys are considered an optional extra.
To those buying and selling property for investment purposes, arranging a HomeBuyer Survey is an easy decision that helps guide their property investment portfolio. For those unfamiliar with property sales, it can seem more sensible to save the money to spend on something for the new home. However, a HomeBuyer Survey may provide the only indication that you are purchasing a home with defects and other issues.
If you are obtaining a mortgage, your lenders will conduct their own valuation of the property which may give the impression that critical issues have been inspected. The cost of this valuation is sometimes included in the terms of your mortgage offer or can be added to the loan. However, a valuation is not a survey, rather it is for the benefit of the mortgage lenders, to help them determine whether the property is a safe investment for the loan.
Our first time home buyer’s guide details the many different factors that need to be considered when purchasing your first home.
Home Survey prices – how much should I pay?
Factoring in the cost of a Home Survey into your budget when buying a home is a great way of ensuring that you are able to afford this vital property report.
Here at Robinson Elliott Surveyors, we have years of experience, surveying mainly residential properties. The cost of surveys differ because each property we inspect is different. Therefore the price of a survey will generally reflect the time it will take to inspect the property and produce a report. Whether it is a one-bedroom flat or a large detached house, the survey will be tailored to the requirements of your particular property.
The property landscape in the south east of England is exciting and vast with many different types of buildings available to purchase. From a quaint village cottage to spacious urban townhouses, our inspection and report to each property reflects its individuality. When it comes to surveys there is no one-size-fits-all approach!
If you would like to find out more about how much it would cost to produce one of our detailed Home Surveys, please do not hesitate to contact a property surveyor at Robinson Elliott. You can also find out more about the locations we operate in within Sussex, Kent, and the South-East of England.
