A lot goes into buying a house. Whether you’re a first time buyer or a someone who’s about to move for the fifteenth time, each move, each house and each seller is different. Before the final preparations can be complete, it stands to reason that you’ll want assurance that your new home is right for you. It might look great during your viewing, but does the overall condition reflect that? To find out, you should always consider carrying out a survey before exchanging contracts.
In this article, we’re looking at the different kinds of surveys you can have, and their benefits.
As standard, your bank or building society will commission a valuation report on your prospective property. This is the most brief form of survey and is performed purely to see whether or not the house is worth lending against. It’s done for the benefit of your lender, more than anything, and only takes a shallow look at the condition of the home. For full insight into a property, it’s worth going into more in depth.
The building survey
A building survey is one of two alternative surveys you can opt for. This survey runs through the structural condition of the property, including how it was constructed and any existing or potential problems stemming from this. A building survey is usually reserved for older properties or houses which have been altered in the past. They can also be performed on listed properties.
The RICS (Royal Institute of Chartered Surveyors) HomeBuyers report is the most in-depth survey you can have. It includes a full report which rates any and all issues on a scale of importance and severity.
The HomeBuyers report is designed for newer properties. Not only does it involve a full structural inspection, but also includes a report on the current market value of the property. The report will advise on the current structural condition of the property, with a view to future work that may need to be done and how this might impact the price of the house.
If you’re after the most detailed review of a home, this is the survey for you. It will provide you with a clear vision of what the house is like now, and what work may be required once you move in. All of this adds up to ensure you can make a fully informed decision – potentially leading to negotiations for a reduced asking price.
But why have a survey at all?
While a survey will cost you extra to commission, the expenditure could easily pay for itself in the end. What you’re paying for initially is peace of mind, but depending on the results of the survey you could end up paying less than the asking price.
It’s easy to trust the initial valuation report, but this won’t give you the detail you need when purchasing a house. Moving home is the single biggest investment you’re likely to make, so performing your due diligence is essential.
Carrying out a survey provides you with a clear review of the condition of the entire property. It’s the best way to ensure you go into the contract phase with as much information as possible. If anything serious is flagged during your survey, it also gives you a chance to negotiate the price – or reconsider your decision entirely.
Once you’ve passed the survey stage and have finalised contracts it’s time to prepare for the move itself. At TWO MEN AND A TRUCK® we provide a comprehensive removals service for house moves of any size or scale. Our specialist team of movers take complete care of your possessions from start to finish. We can carry out a full packing service – or provide you with quality packing materials if you’d prefer to handle this yourself. Our domestic removals are fully insured for your peace of mind, and we always aim to take the stress completely out of moving day. For more information, or for a free quotation, simply contact us today.