Are HomeBuyers Surveys Worth It?
With HomeBuyers Surveys being less detailed than the Level 3 Building Survey, it can be easy to assume that they’re not worth it. However, we’re looking at the pros and cons of the Level 2 Survey to shine a light on when they would make a sufficient choice of house survey.
Not to be confused with the more detailed Building Survey, the HomeBuyers Survey is a less comprehensive report which covers problems in a property that could cause damage or require future repairs. This could include issues such as damp or subsidence. A HomeBuyer Report is suitable for homes that are expected to be in a reasonable condition and only checks for problems that are easily visible.
Pros of the HomeBuyers Surveys
They’re cheaper
HomeBuyer Surveys are a great way to save on your costs when moving house. The average cost is £400. However, it is important to make sure that this is a suitable type of survey for the property you want to buy – otherwise you could lose out on money due to costly repairs further down the line.
You can get a property valuation
You may even be able to get a property valuation with a HomeBuyer survey. This will help you determine how much you require from a mortgage lender, or how much the property is worth based on its condition.
More detailed than the Level 1 Survey
It’s not the most basic survey option available. It’s still more detailed than a RICS Condition Report (Level 1 Survey), making it a ‘happy medium’ choice.
Easy to understand
The report comes with an easy to understand traffic light system which clearly shows which areas are in good condition and which ones may need further investigation.
Cons of the HomeBuyers Surveys
Less detailed than the Level 3 Survey
Probably the biggest con is that they’re less detailed than the Level 3 Survey, also known as the Building Survey.
No flexibility with report
The HomeBuyers report follows a standard procedure which means there is less flexibility when it comes to what you can have surveyed. You can’t request that certain elements are inspected.
It’s easier to miss ‘hidden issues’
It only checks for easily visible problems, so there is scope to miss something important.
If your property is older, made with less conventional construction techniques or materials, or you’re hoping to make alterations in the future, the more detailed Level 3 Building Survey is more appropriate. This will give you a more detailed report and extra peace of mind, which a HomeBuyers Survey won’t necessarily give you. However, if your property is on the newer side and it’s not expected that there will be any major issues, then a HomeBuyers Survey is typically more than sufficient.
Speak to Agentis today to arrange your free initial consultation to discuss your mortgage options and get professional advice to make your house move that little bit easier.
