Before buying a property, it is important to gauge the value of the property and to ensure if there are any issues, that these can be dealt with in a cost-effective manner that won’t affect your budget. Here at Surveying People, we offer a variety of surveying services, including Homebuyer Reports. Let’s break down the biggest questions surrounding this Level 2 report and how our chartered London surveyors can help.
What is a Homebuyer Report?
Also known as a “home survey”, homebuyer reports offer expert advice and details on the condition and value of a property. The mid-level surveys are ideal for homeowners to get a good grasp of their property, especially standard homes that are under 60 years old. They are more detailed than a Level 1 Condition Report, but less extensive than RICS Level 3 Building Surveys.
Our London surveyors conduct Level 2 Homebuyer Reports to reveal issues like subsidence and humidity. All of which will have an impact on the overall value of your property on the market. Your report will advise you on any necessary repairs and the amount of continuing maintenance that will be required in the future. However, because they are “non-intrusive,” the surveyor will only look at what is plainly visible, such as lifting any carpets.
What Does a Homebuyer Report Include?
Although not as extensive as the Level 3 Building Survey, Homebuyer Reports still inspect the entire property and the chartered surveyors will deliver a comprehensive report that offers you advice on certain issues. This includes a visual inspection of all interior aspects, in addition to outdoor features like the roof and brickwork.
Throughout the inside, windows will be checked for double glazing, which will help determine the property’s efficiency and walls will be tested for dampness. The final report will state any relevant background information on the property and the prices on the market for similar houses in that area.
Major defects should be reported and stated which specific issues will be urgent attention. The Homebuyer Report can come with or without a valuation at an additional cost.
How Long Does a Homebuyer Report Take?
This all depends on the specific property. For older properties, this may take longer to judge the overall value and condition, including looking at other properties in the area and market. It also will depend on how many rooms the property has and the land surrounding it.
Typically, Homebuyer Reports may take between 3 and 5 hours to complete. Yet, take this with a pinch of salt. At Surveying People, we offer bespoke surveys that are tailored specifically to you and your property’s requirements.
What is the Difference Between Homebuyer Reports and a Building Survey?
In comparison to the Level 2 survey, the Level 3 Building survey delves into far more information. When a problem is discovered, the report usually provides a thorough analysis of the fault and its likely causes. The Level 3 Building Survey will then go over the many possibilities for rectification, giving the consumer a complete understanding of the issue and the steps needed to fix it.
However, although the Level 3 Building Survey offers more information, this is reflected in the cost. The Level 2 Homebuyer Report is a much more affordable option for smaller properties where no serious defects are to be expected. With the information our chartered surveyors provide, you can feel secure in the value of your home throughout. For more information on the different types of surveys we provide, read our previous blog here.
Are Homebuyer Reports Worth It?
Buying is expensive. In certain cases, it may seem like a survey is just another expense. RICS surveys, however, can assist you in avoiding unexpected problems down the road, such as finding a damp issue. Homebuyer Reports can give you further assurance that the property is in good shape.
Our London surveyors recommend getting a Homebuyer Level 2 Report in cases such as:
- You have any concerns about one particular part of the property
- Unsure about the overall condition
- Thatched roof
- Buying an older property
At Surveying People, we have over 30 years of experience in the construction and surveying industry. Our London surveyors consist of RICS-qualified surveyors that have the expertise to perform detailed surveys in areas such as the North, North West, Harrow and Central London boroughs. We have a range of services, including the Level 3 Building Survey and Level 2 homebuyer Reports.
For more information, or to receive a quote on our residential surveys, fill in our form here. Or, speak to one of our homebuyer surveyors today and call us on 020 8203 1281.