House Surveys: A Comprehensive Guide

Congratulations! You’ve had an offer accepted on a property, and now you’re faced with an important decision: Do you need a house survey, and if so, which type? In this comprehensive guide, we will explore the different types of house surveys, home survey costs, and most importantly, how to make the most out of your survey to ensure your dream home is a solid investment.

What is a House Survey?

A house survey is a thorough inspection of a property’s condition conducted by experts known as surveyors. These professionals meticulously examine the property to identify any issues related to its structural integrity, from minor concerns to significant structural problems. The surveyors assess the need for repairs or alterations, providing invaluable insights into aspects such as damp patches or the condition of the roof. The survey report includes expert commentary on various elements of the property, ranging from the type of walls to the glazing used.

Typically, it is the homebuyer who organises and pays for the house survey after their offer has been accepted by the seller. This independent assessment serves as a vital step in the buying process, offering peace of mind and protecting you from expensive surprises that may arise from undiscovered issues.

Why Do I Need a House Survey?

While a house survey is not a mandatory requirement, obtaining one can save you from unforeseen expenses and provide you with valuable information about the property you are purchasing. Considering the significant financial investment involved in buying a property, allocating a few hundred pounds for a survey conducted by an independent expert is a wise decision. A survey allows you to make informed choices, reassures you about the condition of the property, and provides an opportunity to renegotiate the price if significant repairs are necessary.

With the information provided by the survey, you may reconsider your decision to purchase the property or use the unbiased findings to negotiate a lower price. For example, if the survey reveals that the property requires £15,000 worth of roof repairs, it is reasonable to request a reduction of £15,000 from the purchase price. Alternatively, you can request the seller to address and fix any identified problems before completing the purchase.

When considering whether to obtain a house survey, we recommend it, especially if:

• You have specific concerns about any aspect of the property.
• You are uncertain about the overall condition of the property.
• You are purchasing an older or unique property.
• The property has a thatched roof or is timber-framed.
• The property is a listed building.

Types of House Surveys

There are several types of house surveys available, each suited to different needs, budgets, and property conditions. It is worth noting that in March 2021, the Royal Institution of Chartered Surveyors (RICS) introduced new formats for home survey reports, updating the names and standards of previous surveys. Let’s explore the different types of surveys available in 2023:

• RICS Home Survey – Level 1 (formerly known as the Condition Report)
  • The RICS Home Survey – Level 1 is the most basic and affordable survey option. It is suitable for conventional properties constructed using common building materials and in reasonable condition. This survey provides a “traffic light” rating system to indicate the condition of various parts of the building, services, and grounds. It highlights potential problems requiring attention and provides an assessment of their relative importance. However, this report does not include detailed advice or a valuation.
• RICS Home Survey – Level 2 (formerly known as the HomeBuyer Report)
  • The RICS Home Survey – Level 2, previously known as the HomeBuyer Report, is a popular choice for most buyers of conventional properties in reasonable condition. In addition to the features of the Level 1 survey, it includes checks of roof spaces and cellars. The Level 2 survey also offers recommendations for further investigations when the surveyor cannot reach a conclusive assessment. It provides advice on repair budgets and future maintenance requirements. The Level 2 survey is available with or without a valuation. Opting for a survey with a valuation also includes a market value assessment, an insurance reinstatement figure, and a list of potential issues that could affect the property’s value.
• RPSA Home Condition Survey
  • The RPSA Home Condition Survey, offered by the Residential Property Surveyors Association (RPSA), is equivalent to the RICS Home Survey – Level 2. These surveys are produced in a consistent and consumer-friendly format, independently checked for quality and consistency. The RPSA survey provides additional information, such as broadband speed, damp assessments, and boundary issues for your conveyancer to consider.
• RICS Home Survey – Level 3 (formerly known as the Building Survey)
  • The RICS Home Survey – Level 3, previously known as the Building Survey, is the most comprehensive and thorough survey offered by RICS. It is recommended for properties over 50 years old, those with unusual designs, listed buildings, or properties in poor condition. This survey encompasses everything included in the Level 2 survey and provides detailed descriptions of potential or hidden defects in areas not inspected. It outlines the necessary remedial work, potential consequences of non-repair, and offers recommendations regarding priority and timescale for necessary repairs.
• RPSA Building Survey.
  • The RPSA Building Survey is the highest level of non-invasive survey offered by the RPSA. It includes all the elements of the Home Condition Survey while providing more comprehensive descriptions of construction and defects. This survey offers insights into rectifying defects and highlights the consequences of neglecting necessary repairs.

Survey Costs by Type

The cost of a house survey can vary based on the type of survey, the size and location of the property, and the surveyor you choose. As of now, estimated costs for each type of survey are as follows:

• RICS Home Survey – Level 1: £300 – £900
• RICS Home Survey – Level 2: £400 – £1,000
• RPSA Home Condition Survey: £400 – £900
• RICS Home Survey – Level 3: £630 – £1,500 (or higher depending on the property)
• RPSA Building Survey: Costs may vary

How to Choose a Surveyor

Selecting a reputable and competent surveyor is crucial to ensure the quality and accuracy of the survey. Here are some essential tips to guide you:

1. Shop Around: Obtain quotes from multiple firms and compare their services and pricing. Avoid solely relying on recommendations from banks, estate agents, or mortgage lenders, as these sources may not prioritise your best interests.
2. Check Accreditation: Verify that the surveyor you choose is a member of either the Royal Institution of Chartered Surveyors (RICS) or the Residential Property Surveyors Association (RPSA). Membership in these organisations ensures adherence to professional standards and ethical conduct.
3. Review Sample Reports: Request sample reports from potential surveyors to assess their quality and understand if they align with your needs.
4. Review the Terms of Engagement: Read and understand the Terms of Engagement provided by the surveyor. This document outlines what will be included in the survey and any limitations or exclusions.
5. Direct Communication: Ensure you have direct contact with the surveyor who will conduct the survey. This allows you to ask questions and seek clarification if needed.

Making the Most of Your Survey

To maximise the benefits of your house survey, it is essential to communicate your concerns and expectations to the surveyor. Before the survey takes place, discuss any specific areas or issues you would like the surveyor to pay attention to. While the surveyor will conduct a comprehensive inspection, sharing your worries ensures that no stone is left unturned.

Consider requesting to attend the last 10 minutes of the survey visit. This provides an opportunity for you to point out any specific concerns and ask the surveyor questions directly. Remember, it is your future home, and understanding every aspect is crucial for making informed decisions.

Understanding the Role of a Property Surveyor

Property surveys should be conducted by qualified surveyors who are members of reputable accrediting bodies, such as RICS or RPSA. Local surveyors with expertise in the specific area and property type can provide valuable insights into market values and potential issues. When considering a surveyor, bear in mind that their knowledge and experience can greatly influence the accuracy and quality of the survey.

Survey Duration

The duration of a house survey depends on the size of the property and the type of survey chosen. While specific times can vary, as a general guideline:

• RICS Level 1 survey: Approximately one hour
• RICS Level 2 survey: Up to three hours
• RICS Level 3 survey: Varies widely, potentially taking a full day

Mortgage Valuation vs. House Survey

It is crucial to differentiate between a mortgage valuation and a house survey. A mortgage valuation is not a survey but a cursory assessment conducted by a surveyor to determine the property’s value. Mortgage lenders require a valuation to ensure that the property offers sufficient security for the loan. However, the focus of a mortgage valuation is primarily on the property’s worth rather than its condition. The cost of a mortgage valuation varies based on the property’s size, typically ranging from around £350. It is worth noting that some lenders may include free valuations as part of a mortgage deal, but it is important to prioritise the overall terms and interest rates offered.

In conclusion, obtaining a house survey is a prudent decision when purchasing a property. It provides an independent evaluation of the property’s condition, enabling you to make informed decisions and potentially negotiate the purchase price. By choosing a reputable surveyor and actively engaging in the survey process, you can unlock the invaluable insights that will contribute to a successful and sustainable investment in your dream home.