Why you need a Homebuyers Survey

Buying a property is a big deal and for many people the most expensive purchase they’ll make during their lifetime. This is why you should include a RICS surveyor as part of your hunt for a new home.

When making the decision to buy a property, how can you be sure that the price you’re offering to pay is the right one? Can you be confident that there aren’t any hidden problems waiting to be discovered once you’ve moved in?

At Readings, we’d always recommend that buyers have a homebuyers survey carried out – something which should never be confused with a mortgage valuation report. The latter serves to give the mortgage lender assurance on the loan, whereas a survey is designed for you the buyer, to make you aware of the condition of the property and any maintenance and repairs that might be needed.

How To Pick The Right Survey

We all know that most houses are very different from each other, whether it’s because of their age, size, or the condition that they’re in. This is why, when it comes to a home survey, it’s not about one size fits all.

When wondering how to pick the right survey, it’s important to take a look at the condition and age of the property (for example, new builds might only need the most basic level as they will have been built to NHBC standards which should mean they are in pretty good nick).

However, an old or large property, or one which you want to do a lot of building work on, should have a more detailed survey done, so that you can ensure its suitability.

The Different Types of Home Surveys

There are three levels of home surveys that can be carried out by one of our RICS Chartered Surveyors, depending on the condition and age of your property. Here’s a quick summary but you can contact us for more information:

  • Level 1 – RICS Home Condition Report (HCR) – uses a traffic light system to assess the condition of the property, risks, legal issues and any urgent defects. Perfect for new builds and more modern properties that are in obvious good condition.
  • Level 2 – RICS Home Buyer Report (HBR) – this is for more conventional properties which are in a reasonable condition. It offers more detailed information, including the kind given in the HCR, as well as the option for a market valuation, advice on defects which may affect the value and insurance rebuild costs.
  • Level 3 – RICS Building Survey – perfect for larger or older properties, or ones where major building work might be in the offing. This is the most comprehensive and most expensive home survey available.

Get Your Home Surveyed Today

At Readings our RICS surveyors and Sales team can find you your ideal Leicester property and report on its condition too.

Have peace of mind in knowing that the investment you’re making is a sound one. For more information about having a property surveyed in Leicestershire, get in touch with us today.