When you’re ready to take the plunge and buy a house, it’s crucial to ensure you’re not walking into a costly nightmare. After investing your hard-earned money into a deposit, legal fees, and furnishings, the last thing you want is to fork out more for unforeseen repairs.

Before the contracts are signed, a buyer can opt for an independent survey to assess the condition of the property. This isn’t required by law, but skipping it could mean missing out on spotting potentially expensive issues like rising damp, subsidence, a leaking roof, dry rot, or asbestos. A surveyor’s main job is to inspect and uncover any potential issues with the property, allowing you to move in with your eyes wide open.

Understanding the Different Types of Surveys

Choosing the right type of survey can be a bit daunting as each serves a different purpose.

Mortgage Valuation is Not Enough

First off, if you’re buying with a mortgage, your lender will conduct a valuation to ensure the property meets their lending criteria. However, according to Grant Barnes, managing director at Barnes and Barnes Chartered Surveyors, this should not be mistaken for a survey. These valuations do not protect the buyer’s interests as they are superficial checks, often without an actual visit to the property.

Basic Level – Condition Report

For a basic overview, the Condition Report is the most affordable option, usually starting at £300. This report outlines visible defects and potential risks but doesn’t include repair advice or a valuation.

Middle Ground – Homebuyers Report

The Homebuyers Report, often preferred by buyers, generally costs upwards of £400. This survey includes a basic valuation and checks the property without moving furniture or looking under floorboards. It’s non-intrusive, so some hidden issues may not be detected.

Most Thorough – Building Survey

For the most detailed inspection, the Building Survey is your go-to, particularly for larger homes, costing between £500 and £2000. This comprehensive approach includes checks behind walls, in attics, and other hard-to-reach places, offering advice on repairs, including costs and timelines.

Special Considerations for New Builds

Newly constructed homes might not have issues like damp or subsidence, but a professional snagging survey, costing between £300 and £600, can help catch minor defects or serious structural concerns before you move in.

Choosing the Right Survey for Your Home

The right survey for you depends on the property’s type and condition. Older or non-traditionally built homes, especially those that have undergone structural changes, might need a more detailed survey. Your surveyor can offer tailored advice based on the age, condition, and specific alterations of the home.

Hidden Dangers in a Home

Beyond the typical concerns, homes can harbour a variety of issues. From weathered brickwork, outdated plumbing, and poor electrical wiring to more severe issues like structural instability due to foundational issues or alterations. Properties built or refurbished before 2000 may also contain asbestos, which is harmless if undisturbed but costly to remove if renovations are planned.

What to Do If the Survey Finds Problems

If a survey uncovers significant issues, further specialist assessments might be necessary. Based on the findings, a buyer can choose to renegotiate the price or walk away from the purchase. Transparency and providing estimates for repairs can aid in negotiations, ensuring all parties are aware of the property’s condition.

Choosing the right survey can save you from future headaches and financial strain. It’s a crucial step in making an informed decision about your potential new home, ensuring that your investment is sound and your dream home doesn’t turn into a nightmare.