What does a home buyers survey include
What Does a Surveyor Look At in a Home Buyer’s Survey?
If you have been hunting for a new home and have found a property that you can see yourself living in and have made an offer, now’s a good time to think about having a homebuyer’s survey carried out. During the homebuyer’s survey, the surveyor will carry out an inspection of the property to identify any problems that could be an issue for you in the future and are potentially dangerous or costly to repair. The home survey will ensure that you have all the information that you need to go ahead and make an informed decision regarding whether or not you would like to continue with purchasing the property. It will ensure that you are fully aware of any issues that you might not spot at the viewing including damp, insect infestations, the presence of asbestos, structural issues, subsidence, wet and dry rot and more.
Depending on the type, size, age and condition of the property that you want to purchase, there are four different surveys that you can have carried out. The homebuyer’s report is the most common survey type that is recommended for the majority of homes and will provide you with the information that you need when going ahead.
When to Get a Survey Carried Out:
If the property that you want to buy is suitable for a homebuyer’s report, you might be wondering when the best time to have the inspection carried out will be, or whether or not you actually need one. While getting a survey might seem like an unnecessary expense on top of what you are already paying to buy a new home, it’s worth bearing in mind that investing in the survey now could potentially save you thousands of pounds in repair costs further down the line.
Ideally, you should have the survey carried out after you have made an offer on the property that has been accepted, but before your completion date. This will give you the chance to learn about any issues with the property and change or withdraw your offer if needed.
What Should a Homebuyers Survey Include?
When carrying out the survey, the surveyor will visit the property and undergo a full inspection that typically lasts for up to four hours depending on the property’s condition and size. The homebuyer’s report is not an invasive survey, so the surveyor is unlikely to require access to areas like the loft or attic space or underneath the floorboards and will leave any furniture present in the home intact. They will conduct a thorough inspection of all indoor and outdoor features in the home and check any visible areas of the gas and electrical systems. They will check the draining and plumbing systems and look over the home for any signs of issues like damp, subsidence, wet and dry rot, infestations, and anything else that might require your attention. They will also check that the entire building is compliant with building regulations and check for any areas that could be potentially dangerous.
What is Included in a Home Buyer’s Survey Report?
Once the survey has been completed, the surveyor will prepare a report that you will be given. The report will include information on any issues that the surveyor has discovered within the property, paying particular attention to dangerous problems or issues that are going to need immediate attention once you move in. It will provide you with information on any areas of the property that are not compliant with building regulations and inform you about whether or not you might need legal advice in these areas. You will also be given information about anything that could become a health and safety hazard to you or your family including the presence of dangerous materials like asbestos. Finally, you will get an overview of the recommended work and repairs for the property, how long it is likely to take, and an average cost. Some surveyors will also provide information on how much the property would cost to rebuild from the ground up in this report, which can be useful when getting home insurance.
What Does a Home Buyers Survey Include for the Cost?
Buying a new property is certainly not cheap, so it’s likely that you might be wondering if it’s worth the cost of investing in a home buyers survey, and how much it is likely to set you back. The cost of your home survey will depend on a range of factors including the type of survey that you want to have carried out on the property, the size of the house, its condition, area, and other factors like whether or not it is a listed building. A home buyer’s report is the most common type of survey available and will typically set you back around £600-£700 for a home worth between £250,000-£350,000.
If you want to save money on your survey and are purchasing a newer home in reasonable condition, it might be worth opting for a more basic condition report. Although it is not as in-depth as the homebuyer’s report, it will provide you with the information that you need about the condition of the property at a lower price.
What’s included in the cost? For the price of your survey, you will get a clear overview of the property and information on any issues that you will need to be aware of as the new owner. As a result, you’ll go into making the purchase much more informed and able to plan for the future in terms of repairs while avoiding unnecessary expenses around issues that worsen over time.
How Long Will the Survey Take?
The amount of time that you can expect the inspection to take will depend on the survey that you choose and the size and condition of the property. In general, a homebuyer’s report should take up to four hours to complete, depending on the size of the home and the areas to be inspected. Condition reports will usually take less time to complete, while if you are looking for a more in-depth survey that requires the surveyor to gain access to every area of the home including the attic or loft space, underneath the floorboards and behind furniture, you may need to arrange the entire day for a structural survey or building survey to be carried out.
When Will I Receive the Report?
Your surveyor will usually take around 5-10 business days to prepare and provide you with the results of your survey, depending on the type of survey that you require for your potential new property. There are several factors that will determine how long you will expect to wait for your report including the surveyor that you choose to carry out the inspection, the size of the home, and the condition of the property.
For a homebuyer’s survey or condition report, you can usually expect to wait around five working days to receive the results. On the other hand, a building survey or full structural survey that is more in-depth will typically take around ten working days to complete, so it’s important to keep this in mind when booking your survey to be carried out. Your surveyor will be able to provide you with further information on how long they expect the preparation of the report to take.
How Can I Use the Report Results?
When you have the results of your home survey, there are several different ways that you can use them to make a more informed decision about your potential new property. Once you are aware of the issues that are present within the property, you can then make an informed decision regarding whether or not you want to continue with the purchase or look for an alternative property. In some cases, you may find that a home has many more problems than you first expected and might decide to withdraw your offer as a result.
In some situations, you might be able to use the report for your homebuyer’s survey to negotiate a lower price with the seller. In many cases, sellers are looking to get a quick sale so that they can purchase their new home, and know that any issues that are found in your survey are only likely to come up in future surveys with new potential buyers, therefore, they might be happy to reduce the asking price or accept a lower offer from you so that they can go forward with the sale and you are able to save money that can be put towards repairs in the future.
Finally, the report can simply provide you with the peace of mind that you need when purchasing a new home. Once you are aware of any potential issues and dangers with the property, you can put a plan in place to deal with them and avoid any unexpected surprises and expenses in the future.
If you are planning to purchase a new property, it’s worth considering getting a home buyer’s survey to look for any potential issues with your new home.