When you're buying a property, getting the right survey is crucial. It's like having a health check-up for your potential new home. This guide will walk you through the different types of surveys available, helping you choose the one that's best for your needs.

Why Get a Survey?

Before we look at the types of surveys, let's quickly touch on why they're so important:

• Peace of Mind: A survey can reveal hidden issues that aren't visible during a viewing.

• Negotiating Power: If problems are found, you might be able to negotiate the price down or ask the seller to fix issues before you buy.

• Future Planning: Knowing about potential issues helps you budget for future repairs or improvements.

• Insurance: Some insurers might ask for a survey before they'll cover your property.

Right, now let's look at the main types of surveys available:

Mortgage Valuation Survey

This survey is typically required by lenders before they agree to offer a mortgage.

What it covers:

• A basic assessment of the property's value for lending purposes.

• Identifies any major issues that could affect the property's value but is not as detailed as a full home survey.

• Provides a report to the lender, not the buyer, but you may receive a summary.

Best for:

• All properties being purchased with a mortgage.

• When you need to satisfy lender requirements for financing.

Cost: Usually included in the mortgage arrangement fees, but can be £150 - £1,500 depending on the lender and property value.

RICS Home Survey Level 1 (Previously called a Condition Report)

This is the most basic survey, suitable for newer properties in good condition.

What it covers:

• Traffic light ratings for the condition of different parts of the property

• Highlights urgent defects or potential legal issues

• Doesn't include advice or valuations

Best for:

• Newer homes (less than 5 years old)

• Conventional properties in good condition

• When you just want reassurance about the overall condition

Cost: £300 - £900

RICS Home Survey Level 2 (Previously called a HomeBuyer Report)

This is the most popular type of survey for average properties in reasonable condition.

What it covers:

• All the features of a Level 1 survey

• More detailed information about the property's condition

• Highlights problems that may affect the value

• Includes advice on repairs and ongoing maintenance

• Often includes a market valuation and insurance rebuild costs

Best for:

• Properties in reasonable condition

• Conventional homes built in the last 100 years

• When you want a more thorough check but don't need an in-depth structural survey

Cost: £400 - £1,000

RICS Home Survey Level 3 (Previously called a Building Survey)

This is the most comprehensive survey available, suitable for older or unusual properties.

What it covers:

• Detailed analysis of the property's condition

• Advice on defects, repairs and maintenance options

• Information on the type of materials and construction methods used

• Recommendations for further investigations if needed

Best for:

• Older properties (over 50 years)

• Buildings with unusual construction

• Properties you plan to renovate or alter

• When you want the most thorough inspection possible

Cost: £630 - £1,500

New-Build Snagging Survey

This is a specialised survey for new-build properties.

What it covers:

• Identifies minor issues or defects in a new-build home

• Checks the quality of workmanship

• Provides a list of items for the developer to address

Best for:

• New-build properties

• When you want to ensure everything is finished to a high standard

Cost: £300 - £600

Specific Defect Survey

This focuses on a particular issue with a property.

What it covers:

• In-depth analysis of a specific problem (e.g., damp, structural issues)

• Advice on how to fix the issue and potential costs

Best for:

• When you're aware of a specific problem and want expert advice

• If a previous survey has highlighted an issue that needs further investigation

Cost: Varies depending on the issue and property

Choosing the Right Survey

When deciding which survey to go for, consider:

• The age and condition of the property: Older or more unusual properties usually need a more comprehensive survey.

• Your plans for the property: If you're planning major renovations, a more detailed survey could be helpful.

• Your peace of mind: If you're worried about potential issues, a more thorough survey might help put your mind at ease.

• Your budget: Balance the cost of the survey against the potential savings if it uncovers issues.

After the Survey

Once you've got your survey results:

• Read the report carefully: Make sure you understand all the findings.

• Ask questions: If anything's unclear, don't hesitate to ask your surveyor for clarification.

• Get quotes: If the survey has identified any issues, get estimates for the work needed.

• Negotiate: You might be able to use the survey findings to renegotiate the property price or ask the seller to fix issues before you buy.

Remember, a survey is an investment in your future home. It might seem like an extra expense, but the information it provides could save you thousands in the long run.