Whether you buy a house to live in or rent it out, most likely you will need to do a bit of work to match your style and taste or bring it up to a habitable standard.
What could go wrong? everything could go wrong in a house. There are some basic checks that could be done during the viewings. For example, ask the vendor to fire up the heating system and check the radiators, open all the taps and shower head at the same time to check water volume flow and drainage conditions; flush the toilet a few times and see how smooth it is; check the windows and door seals; touch the walls to feel the moisture etc etc....
However, there are things that you cannot tell or you would not know it is a problem without professional training, such as roof condition, damp, structural integrity, dry rot, subsidence, heaves, invasive plants, building regulation compliances or even boundary issues. These are the big label items and could cost you a lot to repair it. This is why you always need to call in a professional to do a "health check" for you.
The Royal Institution of Chartered Surveyor (RICS) established a framework for house survey. It has a standardised format, detailing what elements of the house will be examined in the condition survey. The survey has 3 levels
- RICS Condition Report - Level 1
- RICS HomeBuyer Report - Level 2 - Survey only
- RICS HomeBuyer Report - Level 2 - Survey & Valuation
- RICS Building Survey - Level 3
For more information, visit RICS website here:
If you are buying the house through an estate agent with a mortgage, your mortgage provider will do a valuation as minimum to ascertain your purchase price. The valuer will visit the house and assess the true value of the house. At the end of it you will just get:
Valuation report
Before the mortgage provider instructs a valuation, they will usually give you an option to upgrade to a " RICS HomeBuyer Report - Level 2 - Survey & Valuation" for an additional fee.
If you are not going to buy with a mortgage, you should still find your own surveyor and get a "HomeBuyer Report - Level 2 - Survey and Valuation" to cover your back.
If you upgrade to a Level 2 report, the valuer will carry out a house condition survey on top of the valuation and produce a report with the following information.
Overall opinion and summary
About the property - General property information
Outside the property - for things that can be seen from outside
Inside the property - such as conditions of wall & ceiling, kitchen, bathroom,
Services - such as electricity, gas, water, heating & drainages
Grounds (including shared areas for flats)
Highlight any Issues that you should alert your legal advisers
Risks - highlight any risk to the property or safety risk to people
Advice on what you should do after this report
Valuation
However, if you have greater concerns on the condition of the property, such as on the structural condition of a very old or rundown property, you may need to have a "RICS Building Survey - Level 3". This report will provide an extensive and thorough inspection and detailed report of a wider range of issues.
These types of home surveys must be done by RICS Chartered Surveyor/Valuer, who is specialised in this field. Like other RICS Chartered Surveyors, a RICS Chartered Valuer will also carry "MRICS" or "FRICS" designation after their names. Although we are Chartered Surveyors, Endeavour Construction Consultants do not offer any level of the home survey. If your project requires a home survey, we are able to point you to the right direction and get it sorted.
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Disclaimer: The content is for information purposes only and does not address the circumstances of any particular individual or entity. Nothing in this blog constitutes professional advice, a solicitation, recommendation, endorsement or offer by Endeavour Construction Consultants Ltd or any third party services.