01452 452346
Group 11868

Why you need a Homebuyer Survey before buying a property

It’s cliché but true: a home is the most significant investment you’ll ever make. Getting it right, therefore, is imperative.

A home survey is the most essential part of a home purchase. It’s a make-or-break point where you discover the building’s true condition and value.

This page explains why a Homebuyer Survey is vital and how it helps you avoid buyer’s regret.

What is a RICS Homebuyer Survey?

A Homebuyer Survey is precisely what the name suggests – a residential survey explicitly aimed at homebuyers.

Before purchasing a new home, you want to ensure it’s worth what you’re paying. You also need to know what potential issues you’ll run into down the line, so you can save up or, in severe cases, pull out of the sale altogether.

Homebuyer Surveys are one of the official survey frameworks offered by the Royal Institution of Chartered Surveyors, better known as RICS. This is the governing body for all chartered surveyors in the UK. It’s also a worldwide presence.

Recently, RICS has changed the titles of its home survey options. These days, we refer to the Homebuyer Survey as a ‘Home Survey Level 2’.

This neatly fits between a property valuation and a Home Survey Level 3, once known as a Building Survey or Full Structural Survey. The latter focuses more on structural components and is appropriate for historic properties, cottages, renovated buildings, and anything in obviously poor condition.

What happens in a Homebuyer Survey?

Here’s the general process of how a Homebuyer Survey works when you use GB Home Surveys. The process will be broadly similar with other RICS chartered surveyors.

  1. Submit an offer for the home you’re looking at and wait for it to be accepted.
  2. We’re the only company to offer an obligation-free quote. You don’t even have to leave your contact details! We’ll be sure to honour this figure.
  3. Get in touch with the chartered surveyor to ask them questions. These should include checks that they’re a local provider (so they know the market well) and evidence of experience and RICS membership.
  4. Instruct the chartered surveyor to complete the Homebuyer Survey. You’ll need to provide your information as well as details of the property and the current owner or their representatives.
  5. The chartered surveyor organises a time to inspect the property with the current owner. This typically takes place within a few days.
  6. During the Homebuyer Report survey, the chartered surveyor looks for common problems, inspects the home and its grounds, and examines the surrounding area. They’ll also take photographs and make detailed notes as they go.
  7. Homebuyer Surveys typically take two to three hours, depending on the property size and condition.
  8. Once the inspection is complete, the chartered surveyor returns to their office. They’ll use their notes and photos to produce a report. This will include a valuation and a general list of the conditions of the property’s features.
  9. For an extra fee, it can also include repair cost estimates.
  10. The report is standardised under RICS. It’s typically delivered as a PDF to your email address, saving postage time and paper. We always aim to get this back to you within seven days of the survey.
  11. You’re welcome to ask your chartered surveyor about their conclusions and what they found.

How a Homebuyer Survey helps you identify property problems

The most crucial part of a Homebuyer Survey is the problems the chartered surveyor might find. These could include any of the following (and much more):

  • Damp
  • Dry rot
  • Wet rot
  • Woodworm
  • Subsidence
  • Japanese Knotweed
  • Asbestos
  • Other structural problems
  • Roof issues

Many of these things are almost impossible to spot without formal training. For example, dry rot might only affect timbers concealed behind plasterboard or in a dark corner of the loft. The current owner might not even know about it! It takes an expert eye to spot the signs.

These problems are vital to know about. They mean the home might cost you extra if you’re to fix all of them. Many buyers often lower their initial offer to account for what they’ll spend on repairs.

In severe cases, you might even pull out of the deal entirely. This is an extreme measure but is sometimes necessary. The last thing you want is to pay too much for a property you can’t sell and can’t afford to repair.

GB Home Surveys offers Homebuyer Surveys

GB Home Surveys offers Homebuyer Surveys. You’ll find them on the Choose Your Survey page under the new name, Home Survey Level 2. Why not get a commitment-free quote while you’re at it?

Here at GB Home Surveys, we strongly believe in a local market presence. That’s why we have offices throughout the South-West and West Midlands, including Birmingham, Bristol, Bath, Gloucestershire, Herefordshire, Worcestershire, the Cotswolds, Devon, Taunton, and Cardiff and South Wales.

Use the form below to drop us a message, or give us a ring at 03333 600 685. We look forward to meeting you.

Main Menu