Skipping a home survey could cost you thousands in repairs

A home survey is a voluntary in-person inspection carried out by a qualified surveyor that checks a property's condition before purchase. Many homebuyers confuse these with a mortgage valuation, but home surveys are quite different.

Many first-time buyers mistakenly believe that their mortgage lender conducts a thorough survey of the property. However, this is not the case.

Mortgage valuations are carried out on the mortgage lender’s behalf to make sure the property is worth what you’re paying for it, often without even visiting the property, and do not provide advice on potential issues.

But a survey is designed to protect the homeowner by uncovering faults in a property, so you won’t be faced with unforeseen repair work when you move in.

What’s more, you can use the findings of a house survey to negotiate if the valuation of the property is below the agreed price, or you can arrange for problems to be fixed before you close the deal.

The results of a survey might even make you reconsider buying if it reveals the property is in a much worse condition than you expected.

Common problems identified during home surveys

When purchasing a home, a survey can reveal a variety of issues that might not be immediately apparent. Here are some of the most common problems identified during home surveys: 

Damp: Damp is one of the most frequently encountered issues uncovered during a survey. This can be caused by condensation in poorly ventilated areas, rising damp up the walls, or penetrating damp due to leaks or structural issues. Figures from Checkatrade show that the cost of fixing damp can cost on average £5,000, depending on the severity of the problem.

Structural Movement: This includes any movement in the building's structure, such as subsidence or settlement. It can lead to cracks in walls, floors, or roofs, and in severe cases, can cause parts of the building to collapse 

Roof Defects: Problems with the roof, such as missing or broken tiles, leaks, or poor insulation, are common. These issues can lead to significant repair costs if not addressed promptly. 

Asbestos: Particularly in older properties, asbestos can be a major concern. Although its use was banned in 1999, many buildings still contain asbestos materials, which can pose serious health risks if disturbed. It's estimated that removing asbestos can cost around £225 per square metre. 

Woodworm Infestations: Woodworm can cause extensive damage to wooden structures within a property. Signs of an infestation include small holes in woodwork and the presence of fine, powdery dust  

How much will it cost?

There are three types of RICS home surveys with prices typically ranging from £300 to £1,300.  

Level 1 Home Survey

Previously known as a 'Condition Report', the RICS Level 1 Home Survey is the most basic and affordable option.  

It's designed for conventional properties and newer homes built from common materials and in good condition.  

This survey describes the property's condition, identifies any risks and potential legal issues, and highlights urgent defects.  

However, it doesn't provide advice on how to manage these defects. If you're buying a standard house, flat, or bungalow in good shape, this survey is a sensible choice. 

Level 2 Home Survey 

Formerly called a 'Home Buyer Report' or 'Home Buyers' Survey', the RICS Level 2 Home Survey is suitable for conventional properties that are in reasonable condition and have a simple layout. This survey offers more detailed information about the property and includes ideas about future repairs or maintenance that may be required. 

There are two options for the Level 2 Home Survey: 

Survey Only: This includes all the features of the Level 1 survey, plus a more extensive inspection of roof spaces and drainage chambers.  

It provides advice on defects that may affect the property and what maintenance or repairs may be needed.  

This option is ideal if you want more comprehensive information while buying or selling a conventional property. 

Survey and Valuation: In addition to the features of the Level 2 survey, this option includes a market valuation and an insurance reinstatement figure.  

This helps you avoid under- or over-insurance. Choose this if you want the benefits of a detailed survey along with a valuation. 

Level 3 Home Survey

The RICS Level 3 Home Survey, previously known as an 'RICS Building Survey', is the most comprehensive option.  

It provides an extensive, in-depth analysis of the property's condition and includes advice on defects, repairs, and maintenance options.  

This survey is ideal for large, older, or run-down properties, buildings that are unusual or have been altered, or if you're planning major works. 

For standard property types, a Level 2 RICS survey is usually suggested.  

However, for properties over 100 years old or those with significant structural changes, a RICS Level 3 survey is recommended.

The modest cost of a survey is far outweighed by its value, often preventing unexpected property expenditures and future heartache.  Home surveys are arranged by the buyer and provide the only way to get an in-person, thorough inspection of the property's actual condition.

Whether you’re buying, selling, or re-mortgaging, you’ll need a conveyancer to oversee all the legal requirements and ensure everything progresses to completion.

To help you find the best price for a home survey, we've partnered with Optimus to let you compare home buyer surveys online.

Optimus's dedicated service team will guide you through the process - from which home survey is right for you to when you should order one, and they will even be on hand to help you understand your home survey if you have any questions.