Which Survey Type Do I Require?
When interacting with our consumers, one of the most frequently asked questions is, “And what’s the difference between a Building Survey as well as a Homebuyers Report?”
The RICS offers two primary survey kinds: Homebuyer Reports & Building Surveys. These are the two most common forms of surveys, with the Building Survey being the more extensive.
The Buyer’s Guide
The Homebuyer Report will provide you with expert advice on the property’s state, will highlight any issues that may affect the property, and will offer advice on repairs and maintenance. We prepare an RICS Homebuyer Report that utilizes a traffic light colour coding system to assess specific components of the property and to indicate areas of concern, such as damp or structural movement. The amount of detail enables you to assess the purchase’s value in comparison to the cost of future maintenance, repair, and restoration work.
A basic Homebuyer Report contains the following information:
• The property’s general condition
• A prioritized list of topics that require care
• Recommendations for repairs and preventative maintenance requirements
• A summary of any legal implications
• Any serious issues that require an inspection prior to signing any contracts
• You will be told of any obvious significant faults or deficiencies that may influence the value of the property, such as obvious rot, damp, or subsidence.
• If a valuation is supplied, it should include both an estimate of the cost of rebuilding the property for insurance purposes and a market value.
We would recommend a Homebuyer Report for post-war properties unless there are any special reasons for concern, in which case you may want a more detailed explanation of any faults, as well as repair costs.
A Building Survey formerly called a full Structural Survey and occasionally still referred to as a Structural Survey, is one of the most extensive property surveys available when purchasing a home. A Building Survey is more appropriate for older or strangely designed buildings, as it is more in-depth and technical in its results. It will include any property deficiencies, their apparent source, the urgency with which repairs are required, and, in most circumstances, the associated costs.
As the name implies, the Building Survey can be utilized on virtually any sort of property. However, it is considerably more suitable to pre-war structures or structures with specific and visible faults that require evaluation. This is primarily because of the quantity of detail given in the report and the report’s relative expense to other solutions. If the property is:
• Properties that are historically significant or are on the National Register of Historic Places
• Prior to 1945
• Unusual or one-of-a-kind construction
• Within designated conservation zones
• Have recently undergone renovations or intend to do so in the near future
• In disrepair
At Jason Edworthy Party Wall Surveyors , we endeavor to deliver a dependable, competent, and certified service that meets the unique demands of each of our clients. We are RICS-regulated Chartered Surveyors and Registered Valuers with extensive experience. We specialize in Homebuyer Reports, Building Surveys, and RICS Red Book Valuations, but also provide commercial surveys, boundary determination, and Party Wall Act and Land Registry compliant plans.
We are enthusiastic about real estate and consistently go above and beyond to give superior customer service to each of our clients. We strive to exceed clients’ expectations by offering security, competent advice, and exceptional value for money.