What Does A Property Surveyor Cost?
If you are buying a brand new property or are considering purchasing an older building, using the services of a property surveyor is essential. Maybe you are thinking about renovating your current home or have some concerns about structural stability due to movement or flooding. Whatever the reason, using the services of a property surveyor can eliminate any worries you may have about the state of the property.
Reliability of service as well as property surveyor cost might be foremost in your mind so finding a professional who has been recommended can be a good idea. Look for someone who is registered and accredited under the Royal Institute of Chartered Surveyors (RICS). RICS surveyors complete a long apprenticeship and achieve a degree. A RICS property surveyor cost will be worth paying as a survey will reveal any hidden problems both inside and outside the property.
A Property Survey
Engaging a chartered surveyor to conduct a property survey is a must if you are considering buying a property. Whether the property is brand new or one of an older type, getting a property survey will enable you to make the right decision about whether to go ahead with the purchase or to pull out and look elsewhere.
If you are taking out a mortgage to buy your new home the lender will advise you that they are conducting a survey but this is purely a simple mortgage valuation and it will not identify all the defects. A mortgage survey will only highlight any serious structural defects. Paying for a full property survey will enable you to make an informed decision about the next step to take in your property search.
What Does A Property Survey Show?
If you are buying a property you can choose what kind of property survey you want. Even if you are purchasing a new build you may decide to have a survey to identify any snagging issues. Older properties will require a serious in-depth survey and you may choose to go for a full RICS building survey. This will show a full analysis of the condition of the property and will include advice on how to remedy any defects and also provide some tips on how to maintain the property in the future. It is also important to have a full property survey done if you are buying a renovation property.
A full RICS building survey is always recommended for properties that have undergone extensive changes, any properties that are older than 30 years, listed buildings and properties constructed in a non standard form. The survey will identify both major and smaller defects and what they will cost to put right. Any damage from damp, dry and wet rot, condition of the insulation and the construction of the property will show up in the survey. It is important to note that a property survey does not cover the testing of drains and this should be done separately. A Property surveyor cost starts at about £250.
Property Surveyor FAQ
What Kind Of Property Survey Do I Need?
If you are buying an old property or one of unusual construction a full RICS building survey is recommended. It is also a good idea to engage a local surveyor who will be familiar with any problems that are specific to the neighbourhood.
Do All Property Surveyors Have Full Insurance?
All qualified property surveyors should have professional indemnity insurance. Check with the company before engaging a property surveyor. You can also check whether the surveyor is a member of a professional body like the Royal Institute of Chartered Surveyors.
What Do Property Surveyors Look For?
A property surveyor will report on any immediate problems and those that could arise in the future. This includes damp proofing and insulation, the condition of timbers, any leaks and background information about the property. You can also get a valuation report included in the survey.
How To Find A Property Surveyor
Once you have put in an offer on a property the next step is to engage a property surveyor. You can look on the RICS website which lists only fully accredited surveyors. Compare the property surveyor cost by putting in details of the property, the location and the valuation. A local surveyor is the best option as they will be cognisant of property values and any special problems that might arise in the specific area e.g. flooding, subsidence or landslips.
Although many large companies advertise survey services, an independent surveyor is liable to give you a better and more personal service. Additionally, an independent surveyor will take time to understand your particular needs and will not have any relationship with an estate agent or conveyancer. This means you will get a truly independent report with no bias. Unusual properties like windmills or chapels will require an inspection by a surveyor who specialises in that type of property.
Accredited Property Surveyors
Chartered surveyors should have the initials MRICS or FRICS after their names. Members of RICS will show whether they are associate members, members or fellows. There are also property surveyors that are not accredited to RICS. Some choose to be members of an alternative organisation, the Residential Properties Surveyors Association (RPSA) and others hold qualifications through other bodies like the SAVA School of Surveying.
RICS sets certain standards and using a surveyor accredited through this organisation means you will be getting a fully qualified and experienced expert. RICS surveyors deliver a single international standard that ensures you will get a full report that allows you to make a decision before completing on any property purchase.
How Long Does A Property Survey Take?
A home-buyers survey is short and will take from 90 minutes and 4 hours to complete. A more in-depth building survey can take up to 8 hours. However, the time taken will depend upon the type of survey, the location and size of the property. If you are requesting a full damp survey as well this will add to the time taken.
After the survey is completed you can expect a homebuyers survey to be delivered in around 3 to 5 working days. A full survey may take longer and can be expected around 8 days after completion. When you appoint a surveyor you should ask for an estimated timescale for the results. Although waiting for results can be frustrating it is worthwhile holding off any further negotiation with the seller until you get the report. Always factor a property surveyor cost into your budget when searching for a home and read the results carefully before committing to buying any property.
Property Surveyor Costs
A short homebuyers condition report will typically cost around £250. A RICS homebuyers report which is suitable for any conventional building will cost around £400. This type of report will show up any problems with subsidence or damp. You can also ask for a valuation report to be included and this will allow you to decide if the asking price is viable.
A full RICS building survey can cost upwards of £500 and a full structural survey is more expensive starting at £600. If you only need a snagging report on a new build you can expect to pay around £300. The location and type of property will always influence how much property surveyors cost.
Back to UK Property Market blog