Making sense of survey options

SunnyCat

I thought I understood this topic, but having got some advice here and there and then reading up a bit online I feel like I ended up more confused!

We're buying a 1930s semi and don't really have the experience or knowledge to spot stuff ourselves. Our risk appetite is between medium and erring on safer side - we don't want costly surprises, but not bothered about checking out every little thing for no reason.

From my reading, the recommendation is to go with a RICS surveyor - but I've seen RPSA mentioned too - is the general feel RICS is better than RPSA?


I understand there generally are 3 levels of survey (this is RICS)

RICS Home Condition survey - suited to newer homes, lowest level, traffic light system to tell you what might be wrong.
RICS Homebuyer Survey - can be with or without valuation, more in-depth. I imagine I would want valuation - is there a reason people don't pay for it?
RICS Building Survey - Uses 1, 2, 3 system to highlight issues (so, like traffic light, but sounds smarter ). Even more in-depth? What is the actual difference between Homebuyers and Building survey?
Bonus: Structural Survey - is this a generic name for what RICS call Building Survey? If not, what is the difference?
I have been planning for going for the most thorough one, as despite looking to my untrained eye as if it doesn't need anything done, it's an old property, and the extension has a flat roof. Someone suggested that I should have a structural engineer do the survey instead of a surveyor. Please share your thoughts, suggestions and experiences! Thank you.

hazyjo

Yes, a building survey is what used to be known as 'a full structural survey'.


Two types of survey, plus just a 'valuation' option which your lender will require. (Not a 'survey', although some do wrongly lump that in with the other two options.) Your lender may also be able to get the person doing the valuation to upgrade to a 'homebuyer's survey'. It's usually cheaper that way. You can't skip the valuation if you're getting a mortgage, it's compulsory.

SunnyCat

We already had lender valuation done We decided we wanted to choose the surveyor ourselves rather than upgrade the bank one. However I'm sort of between the Homebuyers and Building/Structural survey now. I've had some advice that for a house this old, we should go for structural and other advice that Homebuyers is entirely sufficient.

What factors would make you choose one over the other?

walwyn1978

Depends how risk averse you are. Assuming you’ve decided to pay out for a survey on top of the valuation, which it sounds like you are, the price difference between full and homebuyers is about £250-350. You get more detail in the full, and to my mind if you’re going to the time and money of having an additional survey you want as much detail as you can get. A homebuyers in my mind isn’t worth the money, a full survey might be worth it in terms of what it tells you.

Thrugelmir

SunnyCat wrote: »

We already had lender valuation done We decided we wanted to choose the surveyor ourselves rather than upgrade the bank one.

What benefit are expecting to achieve by doing so? Might be someone from the same firm.

jonnygee2

We already had lender valuation done We decided we wanted to choose the surveyor ourselves rather than upgrade the bank one

In my opinion this is the right decision. The mortgage people will be valuers who do have knowledge of inspection and are able to do the most basic levels of survey, but they will not usually be dedicated building surveyors (as building surveyors are not usually valuers - they are different professions).

G_M

RIPS Vs RICS? I can't comment as never heard of RIPS - but as they are recommended by the gov leaflet I would not discount them.


My best advice though would be to ring two local surveyors from each and describe the property, discuss your concerns, your requirements etc and see what they say.


* are they responsive and understanding?
* do they just automatically recommend the more expensive one, or if they do, do they explain why?
* are they willing to focuss their report on areas that concern you (eg the flat roof) or will they just stick rigidly to a tick list?
* will they discuss their report with you afterwards


You'll soon get a fel for which one is going to give you a good service and good advice.

SunnyCat

We picked a surveyor and decided to go ahead with level 3 survey. There is a small thing though - this one doesn't include the reinstatement valuation (That's rebuild value, right?) and if we want it, it's extra £150. It's a useful piece of info for insurance purposes, but not sure about paying 150 for that... any thoughts? Have you just come up with an estimate rebuild value yourself for insurance or did you have it professionally assessed?

Tom99

SunnyCat wrote: »

From my reading, the recommendation is to go with a RICS surveyor - but I've seen RPSA mentioned too - is the general feel RICS is better than RPSA?

My guess would be that RPSA members are mostly those who are not RICS qualified, they may well have other relevant qualifications and be good at their job, but if you appoint an RICS surveyor you will know they hold professional indemnity insurance should their report turn out to be negligent.

AndyTails

SunnyCat wrote: »

We picked a surveyor and decided to go ahead with level 3 survey. There is a small thing though - this one doesn't include the reinstatement valuation (That's rebuild value, right?) and if we want it, it's extra £150. It's a useful piece of info for insurance purposes, but not sure about paying 150 for that... any thoughts? Have you just come up with an estimate rebuild value yourself for insurance or did you have it professionally assessed?

I've only ever got the mortgage valuation. They've had rebuild costs on them.

SunnyCat

AndyTails wrote: »

I've only ever got the mortgage valuation. They've had rebuild costs on them.

Level 3 survey excludes regular valuation too! That's also extra, but our mortgage provider did the regular valuation, so we don't need it. I'm just wondering about the rebuild valuation..