Is a home buyers survey for a flat worth the money ?

Tumtitums

I am buying a flat in a block of 3-4 storeys which was purpose built in the last 60 years. When i viewed the property , the flat looked in good condition. Everywhere i check says you should always get a survey done before purchasing property but I am told that the survey cannot be a full structural survey on a block of flats because the surveyor would need access to all flats therefore they can only do the home buyers survey. This still costs a few hundred pounds but on looking at the template reports i cant see that this will provide any useful information. In addition the surveyor has stated that they will only look at accessible bits which i'm guessing means that they wouldn't notice a huge great big hole behind the fridge. Is it worth getting a home buyer survey done on purpose built flats ? Buying is already proving expensive so i'd be interested in hearing peoples experiences with home buyers surveys which they commissioned as part buying a flat in a purpose built block

Tumtitums

noone got any comments

princeofpounds

Personally I think yes. They won't access all the areas required for a full structural survey but they will look at the building from an observational point of view.

Holes in the wall behind the refrigerator are not what you are looking for. What you are really paying a surveyor to spot are things like hints of structural movement, an idea of the condition of the roof, possible issues for damp or so on.

For example, one of my relatives was looking at a flat. Seemed very well-priced. The surveyor spotted that the garden had japanese knotweed. This is not something he noticed or would be able to identify, but it could have been costly as the freeholder dealt with it.

For you the blindspot might not be knotweed, but something else.

Money_Bunny

I'm an ultra cautious person who is usually inclined to survey everything to death but..... I had a homebuyers survey done on a flat and it wasn't worth the money. It didn't tell me one single thing I hadn't already worked out for myself.

It depends a bit on how "complex" the flat is - not too much to go wrong with my shoebox. And if you're a first time buyer you might not spot stuff that a seasoned property owner would notice.

Annisele

I think surveys are much like insurance policies. You're hoping nothing bad is going to happen, but if it doesn't you feel you've wasted your money.

I'd get a homebuyers survey on a flat like that, but the level of survey is a personal choice.

Tumtitums

think i will get the cheapest one i can find

NervousHomeowner

Yes, it is definitely worth it! Just because it is a flat does not make it immune to problems.

My partner and I are in the process of buying a flat and were advised not to bother with a homebuyers survey. We ended up getting it anyway for peace of mind and it uncovered a tonne of electrical problems that were not only super unsafe but also would have cost us about £2000 to put right. Now we know about it, we are able to fix the issues and get the vendor to contribute towards the cost.

The flat we're buying is a relatively new property (1950s) in good condition and is in a block of purpose built flats so, like you, we thought the survey wouldn't turn anything up. Like others have said, they're not looking for holes in the walls, they're looking for serious structural problems that could potentially cost you thousands of pounds.

For £300, which really isn't that much when you consider the cost of buying somewhere, I think it is definitely worth the money.

olly300

NervousHomeowner wrote: »

The flat we're buying is a relatively new property (1950s) in good condition and is in a block of purpose built flats so, like you, we thought the survey wouldn't turn anything up.

Any flat built in the 1950s would have needed to have it's electrics and plumbing upgraded, and this could be done very badly by the vendors.

I was actually warned about the bodge job done in my kitchen with the plumbing, as while one of my friends' had a look he couldn't actually be too nosey there as a surveyor can.

In addition as someone pointed out while you don't own the outside if there is knotweed or anything else you would be warned about it as this can increase your service charge.

NervousHomeowner

olly300 wrote: »

Any flat built in the 1950s would have needed to have it's electrics and plumbing upgraded, and this could be done very badly by the vendors.

I was actually warned about the bodge job done in my kitchen with the plumbing, as while one of my friends' had a look he couldn't actually be too nosey there as a surveyor can.

In addition as someone pointed out while you don't own the outside if there is knotweed or anything else you would be warned about it as this can increase your service charge.

That's actually what we've discovered with our property. Most of it is original 1950s wiring etc. but the rest is where the management company have tried to 'upgrade' and done a bodge job of it. So it was definitely worth having the homebuyers as otherwise we'd have bought it being none the wiser and potentially caused ourselves a massive headache.

Tumtitums

thanks for the replies:T