What is a Home Survey?
Carried out by chartered building surveyors, a home survey is an expert inspection of a property’s condition.
Homebuyers typically schedule a home survey after an offer has been accepted by the seller. This will be paid for, and arranged, by the homebuyer.
Additionally, homeowners who are not buying or selling can request a home survey to ensure their property is in good working order.
The two most common types of home surveys are the RICS Home Survey Level 2 and the RICS Home Survey Level 3, both varying in detail and price.
The different types of home surveys and how much the cost
The amount you pay for a house survey will depend on the property’s location, value, and type of survey you choose. However, the type of property you have can also affect the type of survey you can get:
RICS Home Survey Level 1: For new homes and standard properties, this survey is the most basic of the three. It provides occupants with a condition rating, highlighting visible defects around the home and other issues that may need urgent attention.
Cost? If the property you’ve purchased is around the £200K mark, you could expect to pay around £400 for this type of survey. Although, this survey can cost anywhere between £300 and £900.
RICS Home Survey Level 2: Those with a standard property in a reasonable condition are perfect for the RICS Home Survey Level 2. This type of survey provides occupants with more details of the property’s condition including the relative importance of any problems found, advising on all issues and repairs that are needed.
Cost? Taking into account your home’s value, location, and condition, you can expect to pay anywhere between £400 and £1,000 for this type of home survey.
RICS Home Survey Level 3: Also known as a Full Structural Survey, older homes (50 years and above), larger, or more unusual properties, in addition to those in poor condition, can opt for this survey.
Cost? Whilst the Level 3 may be the more detailed and more popular choice for a home survey, it is also the more expensive of the three. For example, if you bought a home costing around the £1M mark, you’d be looking to pay around £1,500. However, on average, homeowners would typically pay between £630 - £1,500 for this type of survey.
How much a home survey costs by property value
Here's the full breakdown:
Why do costs vary?
There are a number of reasons why the cost of a home survey varies. One of the main reasons comes down to the level of detail in each report.
Ultimately, the more detail you’re after the more you’ll pay. So, if you’re after a deep dive into the condition of your property, including advice on repairs and maintenance requirements, then the RICS Home Survey Level 3 would be the best option – which is the more costly of the three.
Next, prices are also dictated by the type of property you have (as shown above) and even location. In most cases the RICS Home Survey Level 2 is suitable for everyone, however, there are some property types that may benefit from one over the other. For example, older properties would get the most from a RICS Home Survey Level 3 rather than the Level 1.
Finally, the survey you choose will depend on how much you pay with the RICS Home Survey Level 1 being the cheapest and RICS Home Survey Level 3 being the more expensive.
What makes a survey cost more?
Sometimes, certain issues are uncovered during the inspection that may need specialist attention to – which the surveyor will highlight in their report.
For instance, if there is a serious damp issue within the property your surveyor might recommend that you get a damp survey done – which can cost around £150 - £300.
With prices varying around the £300 mark, problems such as dry rot can also be cause for their own specialist survey.
However, your surveyor will talk you through their findings and answer any questions you may have, advising on whether you may need any additional surveys down the line.
Who are we?
Our team of Chartered Building Surveyors work closely with schools, universities, estate agents, landlords, lenders and local authorities across London and the South Coast to proactively navigate a changing horizon. From ensuring new projects are delivered on time and in budget, to delivering upgrades on behalf of councils.
Read more about our solutions here:
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Alternatively, email us at enquiries@sillencehurn.co.uk or call our Southampton team on 02380 014786 or London at 020 3143 2128.
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