Homebuyers Survey Guide 2024
16 minute read
Date Published - October 7th 2024
16 minute read
Date Published - October 7th 2024
Buying a property is one of the most significant investments you'll make, and ensuring that it's a sound purchase is crucial. One of the best ways to protect your investment is by arranging a home survey before you buy.
A home survey, also referred to as a property or house survey, provides a detailed assessment of the property's condition and helps identify potential issues that could lead to costly repairs.
Whether you're a first-time buyer or a seasoned property owner, a home survey gives you the peace of mind needed to move forward with confidence. In this guide, we'll walk you through the types of house surveys available, the importance of working with an RICS-certified surveyor, and what you can expect in terms of cost and process.
If you're unsure which survey is right for your property or need expert legal advice on the home-buying process, our team of experienced Conveyancing Solicitors at GloverPriest is here to help. We can guide you through each step and ensure you're making informed decisions. Complete our contact form and a member of our team will get back to you as soon as possible.
A house survey (or home survey) is like giving your potential new home a health check. It’s an inspection carried out by a qualified surveyor to spot any hidden issues that could end up costing you a lot of money later on. Before you commit to one of the biggest investments of your life, it’s good to know what you’re getting into.
During the survey, they’ll look at the overall condition of the property – from obvious things like cracks in the walls to less noticeable problems like damp or faulty wiring. Knowing about these issues upfront helps you decide if you want to move forward, negotiate on the price, or factor repair costs into your budget.
A surveyor will visit your potential new home and inspect the house from top to bottom, inside and out, to spot any potential problems you might miss – things like roofing issues, cracks in the foundation, or signs of subsidence. They have the expertise to see beyond the surface.
Once they’re done, the surveyor will hand you a report that breaks down the property’s condition. It’ll help you decide whether to move ahead with the purchase, negotiate with the seller, or plan for repairs. They’ll also give you a sense of how serious the issues are and sometimes even suggest how much it might cost to fix them.
The specifics depend on the level of survey you choose, but generally, a house survey will look at:
When it comes to surveys, you’ve got options depending on your needs and how old or unique the property is:
When choosing a surveyor to hire, you should make sure they're regulated or a member of a governing body. In most cases, this will be the Royal Institute of Chartered Surveyors (RICS).
The Royal Institute of Chartered Surveyors (RICS) is the main professional body for property surveyors in the UK. If you hire a RICS-certified surveyor, you can trust that they’re working to the highest standards in the field. RICS sets strict guidelines for how surveys should be done, ensuring you get clear, unbiased, and professional advice.
When you choose a surveyor who’s registered with RICS, you’re getting expert advice from someone backed by an organisation that promotes professionalism and ethics. Look out for the RICS logo when picking a surveyor – it’s a sign they’re properly qualified and credible.
While it’s not a legal requirement, arranging a house survey when buying a property is highly recommended. There are so many potential risks when buying a property that you may not be able to detect just by looking at it.
Even if the house looks perfect to the untrained eye, there could be hidden issues, such as structural problems, damp, or outdated electrical systems. These are issues that could lead to significant financial burdens in the future – and having a survey allows you to make a fully informed decision about whether to proceed with the purchase, negotiate a lower price, or factor repair costs into your budget.
Unfortunately, many people still think a property survey is an unnecessary expense and so they fail to protect one of the most significant purchases they are ever likely to make.
It's usually up to the buyer to arrange a survey after their offer has been accepted. While your mortgage lender will likely conduct a basic valuation to check the property is actually worth the loan amount, this is not the same as a full house survey.
To avoid future issues, it's always recommended that you engage a qualified surveyor who can carry out a more detailed inspection of the property. The surveyor will be able to provide a comprehensive report on the condition of the house, flagging any potential issues that the lender’s valuation may not cover.
If you’re unsure where to find a reputable surveyor, your estate agent or solicitor can often recommend one - in many cases, this is someone they'll refer clients to on a regular basis. However, you should ensure the surveyor is registered with a professional body, such as the Royal Institution of Chartered Surveyors (RICS), to guarantee that you’re receiving expert advice.
How long a house survey takes really depends on the type of survey you’re having done and the size of the property. A more straightforward Condition Report could take just a couple of hours, whereas a detailed Building Survey might take the better part of a day.
Once the survey itself is complete, you can expect to receive the full report within 3 to 5 working days. If the property is larger, older, or has more complicated issues, it might take a little longer, but this is something the surveyor will let you know in advance.
While it may feel like an extra step that delays things, it’s time well spent to ensure you have all the information you need before making such a big decision.
There are a number of risks of buying a house without a survey including the following:
The main risk of not arranging a survey when buying a house is that it can be very costly if you run into problems once you have bought the house.
There could be structural defects caused by subsidence which you haven’t budgeted for, or health risks due to environmental considerations such as radon gas in the land below the property. All of which you would not be aware of without a professional survey.
Getting a survey makes you aware of all the issues with the property so that you can make a more informed decision as to whether you want to proceed with the purchase and whether you can afford the extra costs that may be involved.
Knowing about these defects through a survey will put you in a more solid position to renegotiate a lower price if there is a lot of work to be done on the property.
The very fact that you are in a position to relay this information from a credible professional source will add a great deal of weight to any request for a price adjustment.
The survey is also a critical source of information for solicitors driving the conveyancing process because it summarises issues that they need to be aware of before contracts are exchanged.
Based on this information, questions can be raised for the seller’s solicitor such as, “does planning permission exist” or “does the house need to be re-wired”. You are then able to calculate how much these may cost and re-negotiate the overall price.
No professional advice means that defects could go undetected because the untrained eye will not be able to say if a crack in a wall is due to a structural defect or whether it requires a simple decorating job.
A survey may also come with cost estimates so that you have an approximate idea of how much you need to spend on the property as a matter of urgency.
Even though a mortgage valuation will be carried out by the lender, it is good to have some impartial information provided to you as part of your own survey.
The valuation that your mortgage lender will do is there to establish whether the property is worth the requested loan, whereas the surveyor is likely to advise on the property’s actual market value.
A house survey can uncover several issues that might impact the safety, value, or condition of a property. These problems can range from structural issues to invasive plants, and each one could require further thought before committing to a purchase. Below is a breakdown of the most common red flags to watch out for:
These red flags are important to consider when reviewing a property’s survey. If any of these issues come up, it might be worth negotiating with the seller to adjust the price or get the problems fixed before completing the purchase. Make sure to consult with your surveyor and solicitor to understand the full impact of any red flags and decide the best way forward.
After your house survey is completed, it might reveal issues that could affect the property’s value. This gives you a great opportunity to renegotiate the price with the seller. If the survey highlights significant repairs, it’s completely reasonable to ask for a price reduction to cover the cost of fixing those problems.
Having clear, documented proof from the survey strengthens your case. Surveyors provide detailed reports on any defects they find, which can help when negotiating a lower price or even getting the seller to make repairs before the sale goes through.
Coming to the table with this evidence shows that you’re basing your request on professional advice, which can make the seller more likely to consider reducing the price or fixing the issues.
Sometimes, sellers refuse to renegotiate after a survey reveals issues – especially if the market is competitive. If that happens, you’ll need to weigh up your options. Are the issues manageable, and can you afford to cover the repair costs? Or are the problems significant enough that you might want to rethink the purchase?
It’s frustrating, but remember the survey gives you essential information. If the vendor won’t budge, you might still decide to go ahead, knowing what repairs are needed. Or you could choose to walk away from the deal – which, though a tough decision, could save you from bigger problems and expenses later on.
When your house survey uncovers significant issues, you might be wondering how much of a price reduction you can negotiate. On average, buyers manage to reduce the price by 2% to 8% of the property’s value, depending on how serious the problems are.
For instance, if there are structural issues like subsidence, repairs can be expensive, so you may be able to negotiate a larger reduction. For more minor issues, like cosmetic defects, the seller may offer a smaller price cut – or perhaps none at all.
The final reduction depends on the severity of the issues, the seller’s willingness to negotiate, and how much you’re prepared to take on in terms of repairs.
After your house survey is done, the time it takes to get to completion can vary. Once you’ve had your survey report, you’ll need to go through the findings and decide on your next steps. If the report highlights any issues and you decide to negotiate further (or request any repairs before completion), this has the potential to slow things down significantly.
If everything looks good and the purchase is pretty straightforward, things can move quickly, and you could be looking at completion much sooner with the average being around 4 to 6 weeks from the survey to completion.
How much a house survey costs depends on the type of survey and the size of the property. For a basic Condition Report, you’re usually looking at between £300 and £500. A more detailed Homebuyer Report can range from £400 to £1,000, while a full Building Survey – ideal for older or larger properties – could cost anywhere from £600 up to £1,500 or even more.
While these costs might seem high upfront, they can potentially save you thousands down the line by uncovering issues before you commit to the purchase. Investing in a survey gives you peace of mind, knowing you’re making an informed decision about what could be one of the biggest purchases of your life.
At GloverPriest, we are the personable face for protecting your residential property interests. We specialise in residential conveyancing, and with our wealth of expertise and experience, you can feel confident that your property purchase is in safe hands.
Our team is fully accredited by the Law Society’s Conveyancing Quality Scheme (CQS), a recognised quality mark for legal experts in property transactions. Trusted by some of the UK’s biggest lenders, the CQS accreditation is your guarantee that we will provide you with a professional, high-quality conveyancing service.
Whether you're interpreting survey reports, negotiating a price adjustment, or managing the conveyancing process, we’re here to guide you through every step. Our dedicated Conveyancing Solicitors are ready to assist with your conveyancing needs, ensuring the entire process runs smoothly through to completion.
Need help from one of our specialised property lawyers? Contact us today by completing our online enquiry form or give us a call – we’re here to support you.
No, you don’t legally need a survey if you are a cash buyer, but everyone is strongly advised to get a survey from an appropriately qualified chartered surveyor whether it's the Homebuyer Report or the more detailed Building Survey. You could argue that it is even more important to have a survey as a cash buyer because there is no mortgage valuation report for peace of mind. With the potential risks at stake, it is better to be on the safe side and be aware of what you are purchasing.
RICS stands for the Royal Institution of Chartered Surveyors. It’s an international body that regulates surveyors and sets the standards for property assessments. Surveyors who are members of RICS have to follow strict rules, so you know the advice and reports you’re getting are reliable and thorough. When you work with a RICS-certified surveyor, you’re in good hands, getting advice that meets the highest professional standards.
A RICS Valuation is when a qualified surveyor, who’s part of the Royal Institution of Chartered Surveyors (RICS), assesses a property to figure out its market value. Lenders often ask for this to make sure the property is worth the loan amount. It’s not just about setting a price, though – it’s a professional opinion that helps everyone feel more secure, whether you’re buying, selling, or lending.
RICS stands for the Royal Institution of Chartered Surveyors. They’re a global organisation that makes sure surveyors are working to high standards. If your surveyor is a member of RICS, you know they’re following strict rules and guidelines, so you can trust the advice they give. It’s all about making sure you get reliable, professional service.
A Level 2 House Survey, or Homebuyer Report, gives you a closer look at the condition of the property you’re thinking of buying. It’s the perfect choice if the house seems to be in good shape but you want a bit more peace of mind. The report covers things like the structure, any repairs that might be needed, and tips on maintenance. It helps you plan for any future work that might be needed – so no surprises after you’ve moved in.
A property surveyor checks a property from top to bottom to spot any issues that could affect its value or safety. They’ll inspect things like the walls, roof, plumbing, and electrics, then provide a report that breaks down their findings. This report is your go-to guide for deciding if the property is worth the asking price or if you need to budget for repairs. It’s a smart move to help you avoid unexpected costs later on.
A Structural Survey, sometimes called a Building Survey, is the most thorough survey you can get. It’s ideal if you’re buying an older home or a property with a unique design, or if the house has seen better days. This survey looks at the property’s structure in detail, from the foundation right up to the roof. If there are any major issues like cracks or subsidence, the survey will bring them to your attention, helping you decide whether to renegotiate the price or plan for repairs.
A Snagging Survey is a check done on a newly built home to find any minor issues or defects that need fixing. This could include things like wonky doors, unfinished paintwork, or problems with the plumbing. It’s a way of making sure everything’s up to standard before you move in, so you don’t have to deal with frustrating repairs later. It’s your chance to make sure the builder fixes any little problems before they hand over the keys.
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