Your Guide: What Property Survey Do I Need?
Whether buying, selling, or reinvesting, knowing the condition of your build is critical. As such, a property survey should be one of the first considerations.
But what property survey do you need for your property? Join us as we look at the various factors in deciding what survey you need for your home, and what benefits and challenges you’ll face with old and new properties.
Do I need a house survey?
A building survey gives you expert insight into the condition of your property and building. Carried out by chartered surveyors who are qualified to provide objective information about a property’s condition, these reports are invaluable for lenders, buyers, and sellers.
Surveys are organised by levels, with each ascending level (1 through 3) offering a deeper and more detailed inspection. For buyers across England, Wales, and Northern Ireland, a building survey is a step undertaken after an offer on a property is accepted. In Scotland however, sellers must provide a Home Report before listing their property on the market.
The different types of house and property surveys
So what surveys are available? There are three main reports with a few additional reports (snagging reports and bespoke surveys) and case-specific reports for insurance, portfolios, matrimonial valuations, vendor surveys and more. For a more complete list please find all the surveys we offer here and all the valuations we offer here.
For our purposes, we are going to look at the main survey options and where they are most appropriate for newly built properties and newer homes vs older properties and historic buildings.
Homebuyers Report or Building Survey
RICS Level 1 RICS Survey (Home Condition Report): This basic survey is suitable for newer properties and provides a general assessment of the property’s condition without detailed analysis or advice on defects.
It includes a physical inspection and report based on that information. This report does not cover inspection of concealed areas and specific advice on maintenance or repairs.
Here is a sample of a Condition Report to show you how this may be presented to you.
RICS Level 2 RICS Survey (Homebuyer Report): Best suited for properties built with common materials and in good condition, this survey provides a concise report that identifies significant problems which could affect the property’s value. It also offers maintenance advice but does not delve into hidden areas of the property.
Please find a sample of a Level 2 RICS survey here.
RICS Level 3 RICS Survey (Building Survey ): Offering a comprehensive examination, this survey is essential for older properties, made of unusual materials, or have undergone significant alterations.
It provides a detailed report on the property’s construction and condition, including any structural issues and advises on defects, repairs, maintenance, and associated costs.
Please find a sample of this in-depth survey and report here.
Choosing the Right Survey
Choosing between the different types of house surveys hinges on the property’s age, material, planned renovations, and of course your budget. Many people even ask if you need a survey on a new build property. The answer is yes, whether it is brand new or a historic building, a survey is always critical.
New builds, with their modern standards and warranties, may only need a HomeBuyer Report or a New-Build Snagging Survey to identify minor defects. In contrast, the charm and complexity of older homes often necessitate the scrutiny of a more comprehensive report, highlighting not just current issues but also advising on future maintenance and repair costs.
New Builds: Benefits and Considerations
New build properties should be built to a high standard (with modern insulation and regulations) and have relatively few issues.
However, mistakes can occur on new properties too so it is important to still have your property independently inspected with a snagging survey.
You will need to do this survey on a new build to identify any issues or ‘snags’, from minor cosmetic blemishes to more significant structural problems. This along with any warranties or guarantees from developers can offer peace of mind.
Snagging Surveys
In general, it is recommended that a snagging survey is carried out on any new-build property. The aim of a snagging report is to discover issues or ‘snags’, such as cosmetic issues with the paint or misaligned handles, which may have been missed or damaged during the building process.
Although the most common issues picked up by the snagging report tend to be minor, this type of report should also highlight more serious concerns, such as structural problems. When the surveyor carrying out the report has compiled a list of all the issues, the buyer can use it to get the developer to fix them before completing the purchase of the property.
Due to its nature, a snagging report isn’t helpful if you’re buying an existing property. If you are buying an older, larger or more complex property, you may want to consider having a more comprehensive survey carried out. This could include a level 2 or 3 survey, or a bespoke survey for specialised projects.
Older Homes: Benefits and Challenges
The charm and character of older homes can often be difficult to quantify and make the chance of construction issues or repairs worth the risk. Older homes are also often larger, situated in desirable locations, and have a great potential for appreciation.
However, investing in an older property can come with hidden costs which makes your choice of survey all the more important.
The challenges in these properties can be hidden and require investigation into hard-to-reach places and cavities that are not easily visible. This along with additional services like camera pole investigations can give you the best diagnosis of your property and identify what needs fixing, when it needs fixing, and how much these costs may be.
What Survey Do I Need?
In summary, choosing the right survey depends on the condition and age of your property. For new builds a Level 1 or snagging survey is all that may be necessary.
However, if your structure has been around for several years it’s important to get more information with Level 2 or 3 reports. For historical buildings, buildings made with specialised materials, or other unique characteristics, a level 3 or bespoke survey may be necessary.
Our team is best placed to help you decide what survey is right for you so please feel free to contact our office today and get expert advice on what you need.
Why Watsons?
The Value of Local Expertise
At Watsons, our surveyors are not just experts in their field; they possess invaluable local knowledge, ensuring your survey considers all regional nuances, from market trends to environmental factors.
This local insight and our adherence to global standards position us as your trusted property partner.
Expert Advice and Guidance
Along with local expertise, our property surveyors possess a wealth of knowledge and can provide you with expert insight and guidance.
For example, our bespoke service adapts to meet each client’s unique needs, guiding you from the initial property assessment through to post-purchase advice.
Find the right survey for your property today
So as you can see, whether you’re venturing into the property market for the first time or adding to your portfolio, understanding the importance of a homebuyer’s report or building survey is crucial. With Watsons, you benefit from expert advice, detailed analysis, and the reassurance that your property choice is informed and secure.
Contact our team today to book your survey and take the first step towards making an informed property decision.
