Carver Building Surveyors - Why Do I Need a Survey?

I am buying a house... what survey do I need?

If you’re buying a house it is one of, if not the biggest purchase you will make in your lifetime, so it’s important to get it right. A property may look perfectly fine from the inside, good décor, nice and clean, even the outside looks to be okay.

But maybe there’s a window that’s been replaced without a lintel and isn’t supporting the wall above, maybe there is some slight cracking that you didn’t notice on your first (or second) viewing that could potentially turn into a major expense or problem in the future, perhaps there has been some decking that has been installed against the wall and is now compromising the damp proof course in the brick. These are just some of the issues that you may not see, but a surveyor is trained to spot.

What's the difference between a survey and a mortgage valuation?

A mortgage valuation is not the same as a home survey, and is for the benefit of your lender. It provides information for your bank to understand whether the property will act as viable security for the loan you've asked for.

The aim of an independent property survey (Level 2 or 3) is to identify any potential areas of concern that you may not be aware of and could be costly to put right. The last thing you want is for any major expense you were unprepared for to suddenly crop up not long after you have moved in.

Of course all properties require maintaining in their lifetime, but commissioning a home survey can give peace of mind that something unexpected doesn’t crop up that you had not budgeted for which could have been identified prior to purchase.

What's the difference between a survey and a mortgage valuation?

Types of Surveys

RICS Home Survey - Level 1 (Condition Survey)

The RICS Level 1 Survey, also known as a Condition Report, is a short surface-level inspection to highlight any obvious defects.

RICS Home Survey - Level 2 (Homebuyers Report)

An intermediate level of survey which assesses the general condition of the main areas of a property built from common building materials and in a reasonable condition.
Provides an assessemnt of the relative importance of the defects/problems.
Valuation can be included for an additional fee.

RICS Home Survey - Level 3 (Building Survey)

A more detailed survey suitable if you are dealing with a large, older or run-down property, a building that is unusual or altered, or if you're planning major works.
A detailed visual inspection of the building, its services and the grounds and is more extensive than a survey level two.