Do I really need a homebuyers report in this situation?

richarduk

I'm looking to purchase a purpose built flat in central London. The property is about 7 years old.

Normally I'd always go for a Homebuyers report as my valuation option, but in a fairly large, quite new, purpose built development I'm questioning whether this will really highlight anything extra of value. First Direct are quoting me around £350 for the standard and £700 for the HB report.

Does anyone have any experience/guidance?

Thanks

Richard

G_M

£700 sounds more like a full structural survey. If it's just a Homebuyers report it's expensiv!

You get peace of mind and also comeback if something goes wrong that the survey misses.

But I agree, any build-snags faults should have become apparent and been dealt with and presumably there is still a 10 year NHBC warranty?

There again, maybe the vendor is selling because he knows of a major and expensive problem and wants out!

hazyjo

Seems very pricey to me too! I'd still go for a HB report, even on a 7 year property (flat or house). We're buying an 8 year old house and had a HB report and lots got mentioned - although nothing classed as urgent. It's certainly not a perfect survey - not that I believe such a thing even exists! For a few hundred quid more, surely it's worth peace of mind. Double check those prices though, or instruct your own independent surveyor.

Jx

richarduk

Thanks - I appreciate your views. Think you're right - I'll go for the HB.