Some people consider that building surveys are not an essential part of buying or acquiring a property. However, in this article you will see that it’s highly recommended. Potentially, a building survey can save you thousands of pounds in repair work. There are different types of surveys, so what are the different types of building surveys?
Perhaps you consider that a basic report is equally a good indication of the condition of the property as a full building survey. But if you’re not thorough, it can lead to problems in the future and a pile of substantial repairs.
Our specialist team at McCallums Chartered Property Surveyors have 25 years experience in the construction sector. We are an independent firm based in East Anglia. With this independence, we are able to offer each client a bespoke and high quality full surveying service.
A building survey is an expert inspection of a property’s condition. It identifies any problems with the building to a prospective buyer. The inspection is completed by a surveyor who visits the property and prepares a report outlining any problems.
Homebuyers generally have a survey done on a property after their offer has been accepted by the seller.
The survey inspects all visible and accessible parts of a building including roofs, walls, floors, windows and doors. As well as chimneys, cellars, garages and outbuildings. Surveyors have a legal responsibility to discover and inform of any major problems with a property. Therefore, the building inspection surveyors will actively search for potential problems and building defects.
Whilst not every building survey report discovers significant defects to a building, there will always be a number of issues reported on. In many cases, this allows the buyer to renegotiate the purchase price. Often, the savings made by carrying out a full survey far exceed the costs of having the survey done.
At McCallums, each building survey is a bespoke and detailed report. Furthermore, it includes a detailed summary highlighting the issues that require further attention.
There are three basic types of house survey:
A Condition Report is a level one survey. This looks at the property’s condition, including any risks, potential legal issues and urgent defects. It’s generally for standard properties and relatively new homes in a good condition. This will cost between £400-£950.
The HomeBuyer Report or Home Condition Survey is a level two survey. It will include all the features of a level one report as well as defects that might affect the property. Furthermore, it includes advice on repairs and maintenance. Additionally, it can include a market valuation if required. This type is suitable for standard properties in a reasonable condition. It costs between £450-£1,000.
A full Building Survey is a level three report. Essentially, this is an in-depth look at the property’s condition with advice on defects, repairs and how to maintain the property. A level three survey is suitable for older properties, unusual homes, renovation projects and properties in a poor condition. As such it is the more expensive and comprehensive option. Therefore it costs between £600-£1,500.
In order to complete the inspection, a surveyor will spend around 2-5 hours in your property. They’ll write up a comprehensive report as well as explaining anything to the client if needed.
The cost of your survey will vary depending on the location, size and type of property. Different surveyors will also charge varying amounts. On balance, it’s highly doubtful that any development or building project reaches a satisfactory conclusion without some expert guidance along the way.
At McCallums, our team can offer you impartial, clear and expert advice, saving you valuable time and stress.
Buying a property is probably the largest purchase that most of us will ever make. For this reason, with so much money at stake it’s logical to want to be as fully informed as possible. Therefore ensuring there are no nasty surprises when you move in.
Although it’s not a legal requirement to have a survey on a property, it’s an incredibly wise choice to make. The cost of getting a building survey done is in the hundreds or just above a thousand and it takes up a few hours of your time.
In comparison, the cost of not getting a survey done could lead to thousands of pounds in repair bills and maintenance. As well as a lot of unnecessary stress.
It’s recommended that you always use a RICS regulated surveyor. RICS stands for the Royal Institution of Chartered Surveyors. RICS surveyors adhere to a strict code of conduct.
Surveyors will charge varying fees. With this in mind, it’s easy to simply choose the cheapest option. However, it can be good to see what the comparable options are, and if you get anything more for your money. Remember, whilst a survey costs money, it’s something that can save you a huge amount of money in the long run.
By using McCallums, you will benefit from a team of experts with local real estate knowledge within an independent organisation.
In conclusion, there are different types of building surveys depending on your property and how much you want to pay.
If you are buying a property, it’s highly recommended that you get a full building survey carried out. Ultimately, this could save you large amounts of money in the long run. To put it another way, imagine if you didn’t want to spend a few hundred pounds on a survey but in your new home, the repair work runs into thousands. Obviously a survey helps you to be more informed.
Because we are an independent company at McCallums, we can offer you impartial advice in a consultancy capacity. Buying a property is one of the biggest purchases you will probably ever make. With this in mind, our team of experts can help you to take the next step with this big decision.
At McCallums, we can also offer all types of building project management. Get in touch today to see how we can help you.