Do I need a survey?
In this guide
Do I need a survey?
Getting a survey done isn’t compulsory. But it can help give you peace of mind in your investment.
Surveys vary in scope and cost. How much you’ll pay depends on the size, location, and value of your home. You’ll need to weigh up all your options to decide what’s best for you.
What is a survey?
A survey is a report that can give you additional information about the home you want to buy. They are carried out by a professional surveyor.
They can give you peace of mind that there are no major problems with the home you want to buy.
If any problems are found, you can decide what to do next. If the survey finds problems that will be costly to fix, you can always go back and renegotiate your offer.
Or you could choose to withdraw your offer completely if the risk feels too great. Just be mindful of costs you’ve already committed to and how that will impact your finances.
Survey and valuation: what’s the difference?
Your lender will carry out their own valuation. They do this to make sure that the property they’re lending you money for is worth what you’re planning to pay for it.
A survey is different. A survey is designed to give you information about the home you’re about to buy. It can give you peace of mind about the property and help raise any red flags.
The different types of surveys
There are three main types of survey:
-
Homebuyer’s report
These are typically suitable for properties under 50 years old. Some lenders will give you the option to get a homebuyer’s report carried out at the same time as their basic valuation.
-
Full structural survey
These are usually more relevant for older properties. Full structural surveys are much more detailed and tend to be more expensive. But they will give you very detailed information about the property.
-
Snagging survey
A snagging survey pinpoints defects and any unfinished work. One of these is usually enough for a very young or brand-new home. You can negotiate with the developers to get small snags fixed before you move in.
If you’re buying in Scotland things are slightly different for you. In Scotland the seller must provide you with a Home Report. But you may still want to consider paying for your own survey for peace of mind.
- Getting a mortgage
Time to talk mortgages?
Call our mortgage experts 0330 333 4002.
dydd Llun i ddydd Gwener 9:30am - 5pm neu ddydd Sadwrn 9am - 1pm.