What is a house survey?
How much does a house survey cost in 2024?
If the property you’re buying is worth £200,000 and you want a RICS Home Survey Level 1 – the most basic type – it could cost around £400. But if you’re buying a £1 million home and you’re seeking a RICS Home Survey Level 3 – also known as a full structural survey – you’re likely to be paying upwards of £1,500.
3 key factors that influence the cost of survey are:
- the type of survey you have
- the property’s value
- the property’s location
LEVEL OF REPORT
As per RICS (a body that develops and enforces leading international standards, protecting consumers and businesses by ensuring the utmost level of professionalism is employed ), there are 3 levels of report:
RICS Home Survey Level 1
RICS Home Survey Level 2
RICS Home Survey Level 3
Why do homebuyers survey costs vary?
The types of survey varies and each offers a different level of details which further caters to different level of consumers. Therefore, the cost differs vastly. Therefore, when you pose a question about survey cost, the factor that what type of survey are you looking for plays a crucial role.
The names of the different types of surveys may look different to what you’re expecting. That’s because in March 2021, RICS implemented a new Home Survey Standard which also launched the new formats for the Home Survey reports. So what was once known as condition report, homebuyer survey and building survey have been changed and updated.
What can make my survey cost more?
If a survey finds problems who pays to fix them?
The biggest advantage of surveys are that they can highlight problems that we are unable to see with naked eye. By getting your hands on such valuable information, you can renegotiate the price with the seller.
For example, if survey highlights that the property has a damp problem and it will take a certain sum of money to fix it, you can request the seller to take equal amount off the sale price. If he doesn’t, you may reconsider buying the property altogether.
As your conveyancing solicitor will possess a copy of your survey, you should speak to them to get an expert advice on handling property transactions. They will suggest you future roadmap.
Is a house survey worth the cost?
How and where to find a surveyor?
We recommend you don’t go with a surveyor that has been recommended by your mortgage or bank as there are high chances that you’ll end up paying more. Instead, we recommend you explore the digital multiverse to get various options.
Here, we again recommend you don’t go with the cheapest one. Why? You might end up getting below-par services. Rather, look for various factors such as experience, technology, and portfolio.
Here at Survey2Plan, we offer a wide range of services including home surveys, utility surveys, measured building surveys, and drone surveys. Our 20+ years of experience, state-of-the-art machinery, and a portfolio of successful projects have made us the best land surveying company in the UK.
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