When you’re shopping around for the right survey and surveyors for you, you might ask yourself these questions. What survey should I get? How long can I keep it for? How useful will it be in the future?
Whether you go for the Building Survey, Homebuyer’s Report or Condition Report will depend on how much detail you need on your new home.
The short answer is that the structural parts of the surveys will be valid for many years to come. The property price (or valuation) in the Homebuyer’s Survey and Valuation report is only valid for up to 90 days. As the market prices fluctuate so rapidly, this particular piece of information can only be relied on for a short period of time.
However, since all three types of report contain information on the type of structure and materials found in your home, we would always recommend holding on to the report. This will prove useful in you decide to make any changes to the property in future, such as adding an extension or knocking down a wall. The report also helps when you come to sell the house on, as it proves that the house was in a certain condition when bought. If you’ve made repairs or improvements, this can give a buyer peace of mind.
The Building Survey will show the most detailed information on a house structure and materials; it is usually recommended for all houses and particularly for older properties.
The Homebuyer’s Survey will show major defects and items affecting the value of the home and is more suitable for flats or newer houses. There is an option to add a valuation on to this survey if you wish.
The Condition Survey will show a very brief overview of the property, with major defects presented only.
We usually find that the Condition Survey is not very useful for clients, as it only gives very limited details about the house or flat; however it is the most budget-friendly.