What type of survey do I need when purchasing a property?

Buying a new home is an exciting time, but also one of the most stressful! As an estate agent, we love it when our clients find the home of their dreams and are excited to move in ready to start a new chapter. However, before that can happen, we are often asked; "What type of survey do I need?" Well, this depends on the property you want to purchase.

A home survey will help you find out any issues about the property that you may not notice yourself just from the viewing. There are three main types of survey to consider. We'll explain them here so you are fully informed when it is your time to buy a property.

Do I need a home survey?

The answer is yes, for two reasons. Firstly, you may love the house you’ve found but think about this.

• Is the property structurally safe?
• Is the property in need of rewiring or areas in the house which requires fixing?
• Is lots of work involved to bring it up to standard?

In a nutshell, a survey gives you security that the property is right for you, helps to avoid costly repairs and ensures that you’re getting a fair price on the property.

Is a home survey a legal requirement?

No, a home survey is not a legal requirement. You may look at the cost of a survey and wonder if it is worth it however in the long run, a home survey can be a valuable investment.

If you’re purchasing a new property, then the survey you need won’t be as expensive as a full survey on an older property that may have different issues due to the age of the property.

If you have a survey that flags up issues, it could save you money in the long run.

Is a home survey the same as a mortgage survey?

No, as a condition of getting a mortgage approval, you may need to complete a survey on the property you want. This is a survey the lender will do – via an independent surveyor – to make sure that they can be confident the property is worth for what it is on the market. A survey like this isn’t as in-depth as a structural survey and can be completed from a distance.

Your lender survey and home survey are two different elements of the home buying process.

What type of survey do I need?

There are three main types of survey to consider.

1.Condition Report

If you are looking to purchase a newbuild property, which should come with a warranty and certain guarantees, you should be looking at a low-level survey – a Condition Report. These typically cost a few hundred pounds and take a few hours to complete.

2.Homebuyers Report

A Homebuyers Report is a more detailed survey, containing advice on potential work needed.

3.Full Building Survey

A Full Building Survey is a very thorough survey and is ideal for an older property. You need to make sure that the house you are buying is structurally safe and this will tell you everything you need to know!

What happens next?

Your survey may point out defects and highlight work needed. You should assess whether this is something you want to/ can afford to do.

If you are looking for a property to buy then contact the team at Giraffe Residential who will be happy to help! Alternatively, you can find all of our available sales properties on  https://www.girafferesidential.com/properties/