Buying a home is a big financial decision, so understanding what type of survey you need could save you time, money and stress.
Find out what our surveying experts have to say in our comprehensive guide, walking you through the essentials of home surveys to help you make informed decisions during your property journey.
What is a home survey?
A home survey is a thorough inspection of a property conducted by a qualified surveyor. The resulting report provides valuable insights into the property's condition, highlighting potential issues that could influence your purchase decision or require future investment. It's an essential tool for avoiding unexpected repair costs and understanding the true value of your potential new home.
What does a home survey include?
Home surveys come in various types, such as the Home Survey Level 2 (formerly known as a HomeBuyer Report) and the Home Survey Level 3 (previously called a Building Survey). While the level of detail varies, these reports typically include:
- A description of the property's construction and condition on the inspection date
- Identification of urgent or serious problems
- Highlight of areas requiring further investigation
- Information on potentially dangerous issues
- Disclosure of potential defects before the transaction
What's the difference between RICS (Royal Institution of Chartered Surveyors) Home Survey Level 2 and Level 3 Building Survey?
The main distinction lies in the depth of detail. A Level 3 survey provides more comprehensive information, and is often better suited for older, larger or significantly altered properties. Including:
If your property was built after 1950 and appears in good condition, Level 2 is likely to be the best option for you.
If it’s a period property, has had major extensions or shows visible issues, it’s best to opt for Level 3 for a more in-depth structural analysis.
Do I really need a home survey?
The numbers speak for themselves. New homeowners spend an average of £3,760* fixing issues after moving in - problems that a survey could have identified before contracts were exchanged.
In fact, 45% of surveys uncover issues with a property, and 53% of sellers admit to withholding information about known problems, Iit's clear that a professional, independent assessment is essential.*
Skipping a survey to save money can quickly become a false economy; those who do opt for one save an average of £2,600,* through renegotiating the purchase price or having sellers address issues before completion.
When should I get a home buyer's survey?
The ideal time to organise your survey is after your offer has been accepted and the mortgage company has completed their valuation (if applicable). This ensures you have enough time to review the survey results and take any necessary actions, such as renegotiating the price or agreeing on pre-completion works with the seller.
It's crucial to complete the survey before exchanging contracts to ensure you fully understand what you're committing to.
What’s the difference between a house survey and a mortgage valuation?
It’s important to remember that a mortgage lender’s valuation report is not a survey. It merely tells the lender whether or not the property offers reasonable security on the loan, and is primarily for the lender and not the customer. A RICS survey is for you, the customer, and will inform you, as the potential buyers, on the actual condition of the property. That’s vital information that can be invaluable during price negotiations, and will also help avoid expensive surprises after you’ve moved in.
Do I need a survey on a new build property?
For brand new properties purchased directly from a house builder, a snagging survey may suffice. However, for second-hand properties over 12 months old, a traditional survey is still recommended.
A snagging survey covers minor defects, unfinished work and items not built to spec. Even with a brand new home it’s good to do a survey to see if there’s anything you may miss. A survey done before legal completion may mean the developer is obligated to fix issues, rather than you.
Do I need a survey when buying in Scotland?
The buying process in Scotland is different and sellers are required to produce and give a potential buyer a Home Report. This is a report that’s prepared by an independent member of RICS and consists of:
- A single survey
- An energy report
- A property questionnaire
You can find our more about the Home Report here.
How do I find a surveyor?
No need to look any further. We work together with Countrywide Home Surveys, one of the UK's largest and most trusted property surveying and valuation practices, and with over 400 RICS qualified surveyors employed across the UK, their local market knowledge is unparalleled.
