What Do Surveyors Check When Valuing Houses? (Tricks Revealed)
Updated: December 2024
When valuing houses, surveyors assess the property's condition, structural integrity, key features like roofs and drainage, and potential risks such as subsidence or hazardous materials. They also consider factors such as size, layout, age, location, and amenities, using market trends and local sales to determine the property's true value.
Key Takeaways:
- Spot Costly Issues Early: Surveys reveal structural problems like damp or subsidence, saving thousands in repairs.
- Choose the Right Survey: An RICS Level 2 survey averages £403, while a more detailed Level 3 costs around £854 but can provide critical insights for higher-value properties, protecting your investment.
- Know the Real Value: Surveyors assess structure, location, and market trends to ensure you pay a fair price.
What is a Property Surveyor
A property surveyor is a qualified professional who examines and evaluates the condition of residential or commercial properties. They play a key role in the home-buying process by assessing structural integrity, identifying risks, and providing detailed reports on a property's condition. Their expertise helps buyers make informed decisions and understand the true value and potential issues before purchase.
Surveyor: "Charming, yes. Structurally sound? Let’s not get ahead of ourselves! "
What do Surveyors Look for When Valuing a Property?
Did you know, 70% of homebuyers regret skipping a property survey, a crucial step in assessing how much your house is worth.
Understanding what surveyors check is essential to prevent costly surprises. Let's dive into these vital evaluations to ensure your investment is sound, focusing on what surveyors look for to determine a property's true value.
A surveyor thoroughly inspects every part of a property for defects, issues, and other potential issues to guarantee that the house is structurally sound and safe. They also value the property to give buyers in-depth insights about possible remedial work that may affect the offer price.
Key Property Information
The survey report will give information on the following:
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Property type
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Year it was built
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Year it was extended or converted (if applicable)
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Number of rooms
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EPC rating
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Environmental impact rating - considers the risk of flooding or adverse nearby developments
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Type of central heating (gas, electric, etc.)
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Basic information about the local environment and grounds
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Structural Integrity - includes looking for cracks, water damage, or uneven flooring
Property’s Exterior
They’ll look at the following:
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Chimney stacks
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Roof coverings
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Gutters
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Rainwater pipes
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Outside walls
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External doors
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Windows - examine signs of wear and tear, such as rotting wooden frames, rust on metal frames, or deteriorating uPVC frames
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Finishes
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Porch or conservatory
Property’s Interior
A surveyor will look at:
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Roof structure - look for internal signs such as water stains or sagging
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Walls and partitions
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Ceilings
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Floors (if not covered)
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Built-in fittings
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Fireplaces and chimney breasts
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Staircase
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Bathroom fittings
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Storage Areas - include cupboards, especially under stairs or in damp-prone areas
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Loft - assess for possible issues like rot, structural damage, or inadequate insulation
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Dampness - assess walls and windows for dampness
Any Suspected Dangerous Materials
If your property surveyor thinks asbestos might be present in your property, they will recommend further investigation to ensure your safety.
Basic Check of the Main Services
Surveyors will visually inspect the services below:
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Water
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Gas/oil
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Electricity
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Heating
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Drainage
Review of the Grounds
Surveyors will visually inspect the following:
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Boundary walls
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Fences
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Footpaths
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Decking areas
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Permanent outbuildings - include garages, summer houses and sheds of significant sizing
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Any common areas
Others Potential Checks
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Japanese knotweed - identifies the presence of this invasive plant
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Subsidence - this may lead to structural damage and impact the safety and value of a property
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Potential legal issues - examples include building regulations and planning permission
The Role of a House Surveyor
You can look for qualified surveyors on the Royal Institution of Chartered Surveyors (RICS) or the Residential Property Surveyors Association (RPSA). Their primary responsibilities include:
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Assessing structural health: They look for signs of stability, wear, or damage.
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Identifying potential risks: They look for subsidence or structural movement that could lead to issues in the future.
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Evaluating property features: Surveyors also assess the condition of key features like roofs, foundations, and damp-proofing systems.
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Conducting safety checks: They check for hazardous materials or construction faults.
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Providing expert advice: Surveyors offer insights on the property's condition which can help in negotiations and decision-making for potential buyers.
At Housebuyers4u, we use RICS-qualified surveyors for 100% of our transactions to ensure every property is assessed to the highest standard. This provides our clients with peace of mind, knowing the condition and value of their property have been independently verified. For sellers looking for a quick and hassle-free process, this approach helps us accurately value properties and streamline offers.
Here's some advice from our in-house property expert Paul:
In our experience, hiring the right surveyor is one of the most important steps in understanding your property’s condition. I always recommend choosing a professional who is not only qualified but also has extensive experience with the specific type of survey you need.
In my opinion, a skilled surveyor with an eye for detail can spot issues others might miss, ensuring you have a clear and accurate picture of your property. This knowledge can make all the difference when negotiating a price or planning future repairs. At the end of the day, it’s about making informed decisions and protecting your investment.
Different Types of Survey
The details you’ll receive in your report depend on the type of survey you choose. The more detail you want in your survey, the higher the survey level, and the more you’ll need to pay.
The Royal Institution of Chartered Surveyors (RICS) provided new formats for home survey reports last March 2021. Here are the different types of RICS home survey level available in 2024.
According to data, 61% of buyers chose the RICS Home Survey Level 2, while 33% opted for the same survey with a valuation included, and only 6% selected the more detailed RICS Home Survey Level 3..
The data suggests that most buyers prefer a mid-level inspection possibly due to confidence in the property’s general condition or the cost and time involved.
Homebuyers choosing a RICS Home Survey Level 2 or Level 2 with Valuation saw an average property price of £283,000, with survey costs averaging £403 and £439, respectively. Meanwhile, those opting for the RICS Home Survey Level 3 faced an average property price of £407,000 and a survey fee of £854.
Matthew Cumber, Managing Director at Countrywide Surveying Services, commented:
“The fact that fewer than one in ten property purchases had a Level 2 Survey or above in Q1 2024 presents a highly alarming statistic. It is a figure which leaves a huge number of buyers open to immediate or future risks, unforeseen costs, disruption and upset on what remains one of the most complex and emotive financial journeys they are ever likely to embark upon.
“Due to a sustained lack of awareness, a survey can often be viewed as an additional cost rather than an integral one. The thing homebuyers need to bear in mind is that opting for the right survey could actually save them time, money, and heartache. The cost can often be a fraction of the potential expense from work which needs to be completed on the property which was not identified before contracts are signed.
In our experience, selecting the right survey level is vital when considering a quick sale. We’ve found that clients who opt for detailed RICS Level 3 surveys uncover critical issues early, saving thousands in repair costs down the line. For properties needing urgent sales, this knowledge can speed up decision-making and ensure fair valuations.
Valuing a Property
The surveyor's valuation helps buyers and sellers understand the true worth of a property.
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Assessment of property features: Surveyors consider the size, age, condition, and layout. They may physically measure these aspects and will also evaluate the age of the property, the quality of access and parking, and outdoor features like topography, location, and plot size.
Additionally, surveyors assess any potential for future development, which buyers may overlook.
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Local market analysis: They consider the local property market trends and comparable sales in the area.
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Identification of defects: Surveyors look for any defects or issues that might affect the property's value, including structural problems, dampness, or outdated systems.
For homeowners looking for a fast sale, understanding your property’s value is crucial. At Housebuyers4u, as one of the UK’s leading house buying companies, we combine accurate valuations with a hassle-free process to make fair offers based on detailed property assessments.
House Valuation vs. Mortgage Valuation
Understanding the difference between a house valuation and a mortgage valuation helps both buyers and lenders in their financial decisions.
| House Valuation | Mortgage Valuation |
|---|---|
| Conducted by a surveyor | More focused and limited in scope |
| Aims to determine the property's market value | Assures the lender that the property is a suitable security for the loan amount |
| Based on various factors, including its condition, location, and current market trends | Less concerned with the finer details of the property's condition |
| Benefits the buyer | More concerned with its overall worth as collateral |
| Assesses potential risks and renovations | |
| Identifies any unique features that might affect its value |
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Related read: How to sell your home for market value after a survey
Why Choose Housebuyers4u for Survey Assisted Property Sales?
At Housebuyers4u, we simplify property transactions by ensuring every sale is backed by thorough property surveys. We work exclusively with RICS-qualified surveyors, providing accurate valuations and identifying any structural or safety issues upfront. For sellers looking to avoid delays and costly surprises, this approach offers:
- Peace of Mind: Know the true condition and value of your property before selling.
- Speed: With issues identified early, we can make cash offers in as little as 7-14 days.
- Fair Valuations: Accurate, survey-backed valuations ensure you’re receiving a competitive offer.
By combining professional surveys with our streamlined process, we help sellers achieve fast, hassle-free sales. Learn more about our fast property sale service here.