How to Choose the Right Surveyor
After you find a property you would like to purchase, you will more than likely have to find a chartered surveyor and instruct them to check the structural condition of the building.
The services of a chartered surveyor are vital when selling or buying a house and are a big factor when it comes to valuing your home.
Your mortgage provider will carry outs its own valuation of the property, but in general, many people like to conduct their own surveys just for that extra bit of reassurance. You must have the right kind of survey as they vary depending on the home purchase type.
The types of surveys available
Although each property is different and specifics can be discussed with a surveyor, 3 ‘main’ types of structural surveys are available for those buying a property.
Condition report
A condition report gives an overview of the condition of the property, flagging up major areas of concern but not in very much detail. Other areas it covers include:
- Hazardous problems.
- Things need to be looked into further to avoid serious damage.
- Major/serious problems that require immediate attention.
A condition report is the cheapest option and will set you back between £100 – £250. Keep in mind that you will NOT get a property valuation with this kind of survey.
Homebuyer report
This kind of report is the most popular among homebuyers and people looking into renovation projects alike. It can be arranged through your mortgage lender or with an independent surveyor.
According to the Royal Institute of Chartered Surveyors, a homebuyer’s report will cover a market valuation and insurance rebuild costs. It includes advice on defects that may affect the value of the property with repairs and ongoing maintenance advice. It will also provide the following:
- An in-depth review of the underground drainage and roof space
- Advice on any faults that could reduce the value of the property
- Recommendations for repairs and ongoing maintenance
- It helps you in deciding on whether you need extra advice before putting pen to paper
A homebuyer’s report can cost between £250 – £400 as it includes quite a few extras compared to the condition report.
Building survey
A building survey is the most premium service and provides a detailed assessment of your property. This type of survey is beneficial for older, more traditional properties, properties that have been altered extensively, buildings constructed in a peculiar way or properties you plan to renovate or change in any way.
A building survey provides a comprehensive report covering things such as:
- Diagnosis of major and minor defects.
- Repairs and maintenance advice.
- Damp test results taken from the walls.
- An assessment of any damp-proofing, drainage or insulation. Drains are not tested.
- Information on the types of materials used in the property and recommendations for further specialist inspection if needed.
As a building survey provides the most in-depth service, it can set you back between £600 – £1000 again, depending on the size and location of the property. Something else to note is that, unlike a homebuyer’s report, a building survey does not provide you with a property valuation.
You can find a chartered surveyor using RICs who are closely regulated and required to have professional indemnity insurance. Simply click here to find one in your local area.
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