Buying a residential property can be an exciting and daunting time. An investment of this magnitude may well be the biggest purchase you have ever made, so before you commit to the purchase it’s wise to investigate the asset thoroughly.
The risks of not carrying out a home survey can be substantial. Did you know that new homeowners spend an average of £5,750 on repairs after moving into the property? According to research carried out by Churchill Home Insurance, over 13 million home owners reported that they had to carry out unexpected building works on their property after moving in. What’s more, over half of those who had major building work said that prior knowledge of this would have influenced their purchase decision.
Roof defects, damp and structural issues are among the main problems that an experienced surveyor will identify and warn buyers about. Not only is this critical information that can affect your decision to proceed with the purchase, it also allows you to draw up realistic budgets for remedial work that you could use as a basis for negotiating the purchase price.
At Hammond & Shaw Surveyors, we have a wealth of experience of conducting all types of property survey for our clients and are always happy to discuss which of the following home surveys would suit your needs best:
- A RICS HomeBuyer Report is a detailed inspection and report to provide prospective buyers with important information about the condition of the property. It is a mid-range survey and the most popular report requested by buyers. A HomeBuyer Report is suitable for most UK residential properties – those of conventional design and standard construction that are in good overall condition. Our surveyor will carry out a visual inspection inside an out, then present the report in a standardised, jargon-free format, using a traffic light system to highlight areas of concern. A market valuation will also be given.
- A Smartr Survey is an alternative type of mid-range home survey that is delivered using digital technology. It is a photo-based report that uses the same traffic light rating system as the HomeBuyer Report, but the online portal gives you direct access to view the report and reorganise the data according to your priorities. The digital report can be downloaded onto a computer, tablet or smartphone, viewed on any device, and shared with any stakeholder. Of course, you can print off a hardcopy too. This type of survey is suitable for the majority of conventional residential properties in good order.
- A Building Survey is recommended for older properties including period homes and listed buildings, those of non-standard construction and buildings that have undergone (or are planning to undergo) major renovations. This is the most comprehensive type of home survey available, providing a wealth of valuable information about the property’s condition, faults and defects, estimated costs of repair, maintenance advice and recommendation for further investigation.
A home survey can potentially save you thousands in surprise repairs, thanks to the expert eye of a qualified surveyor who can spot signs of trouble that they layman simply cannot see including damp and timber decay, outdated plumbing and electrics, subsidence, roof defects and much more.
At the end of the day, choosing the right report for your needs depends on the property itself, your timeframe and personal circumstances, as well as your preferred report delivery. For any advice on surveys and valuation services offered by Hammond & Shaw, or to discuss your particular property purchase in South Devon, please feel free to get in touch with our expert team on 01626 335008 or book a free quotation here.