To the average homebuyer, building surveying often seems like a complex technical field that is difficult to understand without the benefit of years of professional training. What do surveyors actually do? And is a property survey really necessary when you buy your next home? There are many misconceptions circulating in the public domain, so we thought we’d take some of the most common myths about property surveys and debunk them once and for all.
-
My mortgage provider is having a survey done on the property, so there’s no need for me to pay for another one.
One of the most common misunderstandings we’ve come across is the assumption that a mortgage valuation is the same as a property survey. It isn’t and the difference between the two is key to understanding why you need to have your own survey done.
Crucially, the property valuation carried out on behalf of your mortgage company is for their benefit, not yours. The sole purpose of the exercise is to ensure that the property is worth the loan that you are applying for. Inspection visits tend to be short and often do little more than check that the lending criteria have been met. The report produces little information regarding the property’s condition, and you may not even be able to access a copy of the valuation report.
By contrast, a RICS property survey such as a HomeBuyer Report or Building Survey is an impartial inspection of the property to assess its condition carried out by independent Chartered Surveyors on your behalf.
-
A home survey is nice to have but surely the money would be better spent on a builder who will actually fix the problems.
Many homebuyers mistakenly believe that they don’t really need an independent property survey and that when budgets are tight, as they always are when you’re moving home, the money would be better spent elsewhere. But consider this analogy: Would you buy a second-hand car ‘blind’, without an expert giving it a full once-over first? Of course you wouldn’t. Surely, the same principle should apply to what could well be the biggest investment decision you will ever make?
A professional property survey may set you back a few hundred pounds but it’s a due diligence process that you would be unwise to skip. The survey findings may well turn up hidden and unexpected building defects that could cost you thousands of pounds to put right after you’ve moved in. And what about serious issues with the building such as damp, timber decay or structural movement that you as a layman wouldn’t be able to detect but that may well make you change your mind about the agreed price, or whether to proceed with the purchase. Rather than a needless expense, an independent home survey can potentially save you a lot of money and grief.
-
Surveys never tell you what the problems are. They’re written by surveyors who are more interested in covering their own backs.
It is a cynical misconception that survey findings are deliberately reported in an unclear fashion, or with so many caveats as to render them meaningless, because the surveyor is more interested in protecting himself against any legal action if problems with the building are later uncovered that weren’t flagged up in the survey.
While it is possible for things to slip through the net of even the most eagle-eyed surveyor, your best insurance policy to ensure a quality service is to choose an experienced firm of RICS-accredited Chartered Surveyors, such as Andrew Goodwin & Associates. Our small team of trusted building surveyors meticulously inspects every property and delivers a detailed, comprehensive report on the overall condition of the property. We strive to provide you with full feedback, including the impact of any defects found, to enable you to make an informed purchase decision.
-
Property surveys are mired in technical jargon that I won’t be able to understand, so there’s no point having one.
It is certainly true that a property survey is a high-level inspection carried out by building professionals who have a wealth of technical knowledge and understanding about construction techniques and materials, and many years of surveying experience to draw on. However, that doesn’t mean that the survey report isn’t accessible to homeowners with no experience in the field of property surveying – far from it.
At Andrew Goodwin & Associates, our service portfolio includes the full suite of RICS home surveys – basic RICS Condition Reports, mid-level RICS HomeBuyer Reports and in-depth RICS Building Surveys. We also have specialist expertise in carrying out Listed Building Surveys. Our survey reports follow a standardised structure and use plain English to enable everyone to understand the survey findings and what they mean for the building. We go the extra mile to ensure that you understand the information presented, offering opportunities to discuss the findings with us and obtain professional advice and guidance from our competent team.
If you are considering the purchase of a property in Oxford, Swindon and the surrounding areas, an independent property survey is the best way to obtain the right information to protect your investment. At AG Surveyors, we can advise on the best choice of survey for your needs, answer any questions you may have and provide you with a free quote. Please don’t hesitate to get in touch.