One such cost is getting a home survey. It’s easy to feel overwhelmed when there are multiple types of surveys, so this blog aims to demystify them so you know which is right for your circumstances.
What is a home survey?
A home survey (or house survey) is a detailed inspection of a property’s condition undertaken by a qualified surveyor from the Royal Institute of Chartered Surveyors (RICS). The survey's primary purpose is to identify any existing or potential issues that could affect the value or safety of the property. It's highly recommended to get a home survey when buying a new home.
The surveyor will provide a comprehensive assessment of the building’s structural integrity and highlight any defects that need to be repaired. It gives potential buyers knowledge of what they are buying so they can make an informed decision.
Types of home Surveys in the UK
There is not a one-size-fits-all option for home surveys in the UK, instead, there are three main types. The survey you need will depend on the condition and age of the house you are looking to purchase. Here is a breakdown of the main types:
Home Survey Level 1
The Level 1 Survey, previously known as a Condition Report, is the most basic and affordable option. Aimed at conventional properties and newer homes, it describes the condition of the property, identifies risks and potential legal issues, and highlights urgent defects.
Home Survey Level 2
Sometimes referred to as a ‘Home Buyer Survey’, the Level 2 survey is a more comprehensive option and suitable for most standard residential properties in reasonable condition.
The report will highlight problems that could affect the property’s value and will also include advice on maintenance and repairs.
Level 2 Surveys are available with or without a market valuation.
Home Survey Level 3
The Level 3 Survey, formerly known as a Building Survey, is the most detailed and thorough option. It will give you an in-depth analysis of the property's condition along with advice on repairs and maintenance.
It’s the best option for older properties, those in poor condition, or properties undergoing significant renovations.
Snagging Survey
A Snagging Survey is a visual survey of new build homes. It aims to find ‘snags’, small issues that may have been missed by the builders due to time constraints.
The interior and exterior will be inspected for problems from the cosmetic to the structural. After a Snagging Survey has been carried out you have 2 years to legally complain about the issues to get the building contractors to remedy them, and up to 10 years for serious issues.
How much does a home survey cost?
The price of a home survey will depend on the type you are getting, the property's value, and its location.
The average costs for the property surveys are:
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Home Survey Level 1 - £400 to £900
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Home Survey Level 2 - £500 to £1000
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Home Survey Level 3 - £700 to £1500
- Snagging Survey - £300 to £600
Though it may seem expensive, home surveys are worth the money as they could save you thousands of pounds in highlighting issues with the property.
What factors can increase the cost of a home survey?
A home survey can end up costing more based on the size, value, and condition of the property. Furthermore, if the surveyor can’t access some areas of the house, the survey will take more time therefore costing more.
Another possibility is that a home survey can uncover serious issues that require a specialist home survey to investigate a particular problem.
In some circumstances, damp or dry rot may be discovered, which will require a specific damp survey or dry rot survey, respectively. This will incur additional costs, as they cost around £200-£400.
Do I need to get a home survey when buying a house?
Whilst it is not legally required to get a homebuyer’s survey when buying a house, it is strongly recommended.
Many mortgage lenders will make it a requirement to have one to protect their interests.
If you were to buy a house without having it surveyed, you run the serious risk of discovering problems like rot or subsidence that could cost tens of thousands to remedy. This means you may have overpaid for the property you have just received.
For more help, you can view our list of recommended surveyors and other professionals.
Is a survey different to a mortgage valuation?
Yes, a survey is different to a mortgage valuation. A mortgage valuation is for the benefit of the mortgage lender, who wants to check that the property is worth the amount they are lending to the buyer. The lender will organise the valuation, and you may have to pay a small fee.
Do I need to get a home survey when buying through Shared Ownership?
Shared Ownership is where you buy a share in a property (usually starting from 25%), paying rent on the share you do not own. Over time, you can save up to buy more of the property, ‘staircasing’ until you reach 100% ownership.
It is also highly recommended to get a home survey when buying through Shared Ownership, and will likely be required by the lender.
The same principle applies to buying a house through full ownership, you want a surveyor to check for any issues with the property.
When paying additional shares in the property, you will also need to get a home survey to determine the market value of the shares you are buying.
Frequently asked questions about home survey costs
It varies depending on the type of survey and the size of the property:
- Level 1 Survey – Up to an hour
- Level 2 Survey – 90 minutes to 4 hours
- Level 3 Survey – 3 to 8 hours
The best time to get a home survey is when your offer has been accepted and before exchange of contracts. The survey will then highlight any issues that might affect the price of the home.
When buying a house in England, Wales, or Northern Ireland, the buyer is responsible for arranging and paying for a survey to assess the property's condition.
It is not a legal requirement to get a home survey when selling your house, though it is highly recommended. A home survey will establish if there are any major issues with the property which you might need to fix to help sell it.
No, home surveys cannot pass or fail a property, but they can highlight serious structural issues that mean the property is not safe to live in. It’s important to pay close attention to the outcome of a home survey so you can make an informed decision as to continuing in the buying or selling process.
