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Why should I get a home survey?

Wednesday, December 10, 2014

“Choosing the right survey will help highlight any serious problems and advise you of the specific risks before you commit to the process of buying or selling a property.”

A home is the most expensive purchase or sale most people ever make. As an owner or buyer you will benefit from expert advice on the condition of your property - whether you plan to live in it, rent it out or sell it.

Owning a home is not without risk. Getting a survey from an RICS member will help to highlight any problems that could lead to expensive surprises later.

A valuation is not a survey!

A survey should not be confused with a mortgage valuation report. The mortgage valuation will give your mortgage lender assurance for its loan. It will not give you an assessment of the condition of the property, or advice about repairs and maintenance.

According to a recent survey of home buyers, of the one in four who relied solely on a mortgage valuation report, 25% needed to undertake unplanned work in the first year, amounting to an average cost of over £1,100 (RICS/GfK NOP Business research).

Be prepared with an RICS Home Survey. Having a survey conducted by an RICS member will give you:

  • peace of mind that you know the property and the risks it may carry
  • confidence that you can make an offer that reflects the true circumstances of the property (e.g. how an owner maintains its condition or how a vendor protects the sale)
  • reassurance that your surveyor is delivering a high-quality, reliable and cost-effective service based on RICS standards of practice
  • a clear understanding of your property thanks to a report written in plain English with simple colour-coding to illustrate the surveyor’s findings.

By commissioning an RICS Home Survey you can feel assured that the service you receive is impartial and reliable.

Helping you choose the right survey

RICS has three different types of survey: the RICS Condition Report service , the RICS HomeBuyer service and the Building survey. These can only be conducted by qualified surveyors. Reliable and cost effective, these reports carry the full weight of RI CS’ respected authority.

The table below offers at-a-glance comparisons to help you choose the most appropriate survey, but if you have any particular requirements, remember to discuss them with your surveyor before the inspection of the property. The surveyor may be able to provide you with extra services, under separate contracts.

Types Of SurveyFor more information, visit www.rics.org/homesurveys 

Find a Surveyor

Contact an RICS member to discuss which level of service best suits your circumstances and needs. Find a RICS Home Survey provider in your area.