When to book a home survey
Buying a home is a big decision that can have a massive impact on your finances. So, making sure everything is above board before you sign on the dotted line is essential. Unfortunately, the whole home buying process can be highly stressful and fraught with difficulty, particularly if the property you’re interested in has many potential issues or needs repairs. To keep these to a minimum and identify any hidden problems or maintenance issues, getting a home survey is essential.
A home survey will give you the peace of mind of knowing that there are no nasty surprises around the corner that could cost you a fortune in repairs at a later date. But when’s the best time to book a home survey, and what type should you go for? Here’s a handy guide to help you make the right choice.
Types of home survey
Before you book a home survey, it’s essential to understand the different types of surveys and what they include. There are three main survey types available from GB Home Surveys, based on the guidelines set out by the Royal Institute of Chartered Surveyors (RICS):
A valuation assesses a property’s market value based on its location, age, condition, state of repair and several other factors. It includes information about the overall condition of the property you are interested in compared to similar properties in the same area. A valuation is affordable and gives a good overview, making it perfect for properties of any type, regardless of their age, style and condition.
A RICS Home Survey Level Two, which used to be called a RICS Homebuyer Report, provides an extensive assessment of the condition of a property, so you can be confident in proceeding with the purchase or sale. It includes all the information covered by a valuation, along with maintenance advice and guidance on any defects that may adversely affect the property’s value. It is suitable for most houses, bungalows or flats, or home in reasonable condition and constructed from common building materials.
Finally, a RICS Home Survey Level Three is a good choice for older, larger or more developed property. This report, which used to be known as a Building Survey, is the most comprehensive home survey available. It provides an in-depth assessment of a property’s construction and structural integrity, along with guidance on defects, remediation, and ongoing maintenance. The report can also include an estimate of repair costs as an optional extra.
When to book a home survey
The best time to book a house survey is once you’ve made an offer on the property you want to buy, and it gets accepted. While you can arrange a survey before you’ve made an offer, it’s not really necessary for two reasons. Firstly, the seller may not want you to carry out a survey before you make an offer. Secondly, any offer to buy a property doesn’t become legally binding until contracts are signed and exchanged and a deposit is paid. Before you do this, you’ll want to be sure that the property is worth the asking price and there are no hidden issues that could affect its value or cause problems further down the line. Getting a home survey done at this point will provide you with the peace of mind that the property is worth what the seller is asking for it or help you renegotiate a better price if any issues come to light.
However, getting a survey done quickly once your offer has been accepted will help speed up the purchase. The length of time your home survey takes to complete will depend on the type of survey you request. There are a few components to bear in mind here. First, the surveyor needs to make an appointment with the seller to view the property in question. This can take anything between a few days and a couple of weeks to sort out.
The inspection itself can take up to five hours to complete, depending on the size and location of the property. And once the surveyor has completed their inspection, it takes time to write up and finalise the home survey report. As a general rule, valuations are usually available within two-three working days. A RICS Home Survey Level Two can take between three-five days to write up, while a RICS Home Survey Level Three report can take up to seven days to complete.
When you book your home survey, your adviser will be able to confirm the process and how long it’s likely to take.
Let GB Home Surveys help you make the right choice
At GB Home Surveys, we offer a different approach to getting a home survey. Our service is convenient and hassle-free. It will provide you with all the information you need to make the right choices. We’re an independent, RICS regulated chartered surveyors and have provided trusted services for almost 30 years. All our surveyors are RICS registered valuers and have vast local expertise and specialist knowledge, so you can be sure you’re getting the best advice to help you buy with confidence. We can tailor our home surveys to your exact requirements. If there are any specific issues you would like us to inspect, please let us know. For a free initial consultation and a no-obligation quote, give our friendly team a call today to discuss your requirements.