What Is a Building Survey?
A building survey is among the most thorough surveys for any residential property. A building survey entails an evaluation of the property's condition. Previously, a building survey was commonly referred to as a full structural survey. Even now, homebuyers will still use the term structural survey to refer to a building survey. The report contained in a building survey usually indicates the condition of each part of the house. It includes damages if any, causes, the urgency of repairs needed and maintenance solutions.
It is important to note that a building survey report does not have any specified format and hence, you can request the surveyor to modify it to suit your needs.
The best people to approach for a building survey are chartered surveyors. Always ensure that the surveyor you choose to engage is regulated by RICS so that the advice they give will be from a trained professional.
Is a Building Survey same as a Homebuyer's Report?
A homebuyer's report is similar to a mortgage valuation; the report is often used by mortgage companies and other financial institutions where you seek finance using the property. On the other hand, a building survey is not used by mortgage companies but is mostly used by you to ensure your home is in perfect health.
Here are some of the instances when you may not need a building survey:
- If you are purchasing a new home
- When you are doing renovations
- If you are demolishing the house and building it from scratch
A building survey report is crucial because it helps you make the decision on whether to buy a particular property and at what cost. The report is likely to reveal some details that you may have missed during your initial inspection of the property.
What does a Building Survey cost?
The cost of a building survey report varies depending on the property type and size. For instance, a small flat may cost about £600. For a large house, the cost may be between £1,000 to £1,500. If you are not sure on whom to approach for the building survey report, then you can engage your real estate agent for a recommendation.
However, there are some instances when you need a specialised surveyor. If the house is large, listed, very old, or has been altered during renovations or constructed in unique ways. Then it is wise to consult a surveyor who deals with such cases.
Explore more:
What is a Mortgage Valuation Survey?
What Is a Home Condition Report?
What To Do After a Bad Survey Report
Are you looking for an Independent Chartered Surveyor in Maidstone or Kent? Follow this link to find an RICS Surveyor near you.