Buying house horror story

Crashy_Time

When the survey flags issues make sure to be looking for a price discount to compensate IMO.

robatwork

Several houses I've moved into have required rewiring and a new boiler, not to mention leaky pipes fixed.

None of this was brought up in the survey because the buildings surveyor is surveying the building. All they can tell you is about the building, not the gas, electric, drains, pipes etc. Hopefully they'll tell you about damp.

You have to take responsibility yourself - look at the plugs, are they old fashioned? Same with the fuse board. Do you know what a new RCD consumer unit looks like compared to an old one? If not it's a 10 minute google. If the one you're looking at is old, budget to get the electrics inspected before offering. Same with the boiler. Take a picture of it with model number and investigate how old it is. Are there service records? You can find all this out yourself. Look at the roof from outside and the loft with a torch, and ask how old it is. If it's 70 years old then get in a roofer to inspect before exchanging.

wanabeFTB

I’m paying for electric tests on the property. This is because the property was advertised as having a recent rewire however the survey flagged that the fuse box has been isolated and there’s not documents for the rewire or checks on electrics. I want to go in eyes wide open and for this reason I’m paying a bit extra to understand what needs doing and how much it will cost to repair. If negligible then I won’t be asking for reduction. As a buyer you should do reasonable due diligence and if not, you must be prepared for the unknown (if that’s possible)! Even then you can’t prepare for everything.

£12k sounds as though it may have been something noticeable? But I’ve heard of people getting £30k/£40k bills when buying. 

MovingForwards

It's personal preference about having a survey.

Regardless of what you decide, make sure you start saving money for repairs and maintenance, don't put them off when becoming a homeowner.

My home is 111 years old this year, all I've had to deal with is a broken shower head holder so far in over 8 months of ownership. 

macman

Give us some context: if it's a 5 year old new build property, then a homebuyers report may be perfectly adequate. If it's a 200 year old cottage with mud walls and a floor of beaten ash, then yes, you do need a full survey. Most buyer will of course fall between these 2 extremes.
Your mortgage lender's valuation simply seeks to confirm that the value covers the amount of the loan, nothing more, It could still have major defects. Even a full building survey does not cover the utilities: gas, water, drainage, as these are specialist areas. And even if you commissioned a specialist electrical survey, it wouldn't necessarily reveal faults that were concealed under a floor void, since the inspection is purely visual-they won't be lifting any floorboards.
You have fewer consumer rights when buying a house than you do when buying a bar of chocolate, so there is always some risk, and your budget should allow for normal repair and maintenance.

AlexMac

robatwork said:

Several houses I've moved into have required rewiring and a new boiler, not to mention leaky pipes fixed.

None of this was brought up in the survey... take responsibility yourself - look at the plugs, are they old fashioned? Same with the fuse board. Do you know what a new RCD consumer unit looks like compared to an old one? If not it's a 10 minute google. If the one you're looking at is old, budget to get the electrics inspected before offering. Same with the boiler. Take a picture of it with model number and investigate how old it is. Are there service records? You can find all this out yourself. Look at the roof from outside and the loft with a torch, and ask how old it is. If it's 70 years old then get in a roofer to inspect before exchanging.

Excellent advice; I've tended not to bother with surveys, expecially not in leasehold flats, and have got away with it, even with the three Victorian properties I've owned over the years.  Especially as I've picked up a lot of knowledge after taking the first one (bought as a wreck) apart and putting it back together ; a mix of specialist contracters (roof, rewire, boiler, C/H..)  and heavy duty DIT (lifting / relaying floorboards, kitchen fitting, ceiling rplacement and decor...).  But on our last purchase - built around 1987 - we did get the Brother in Law - a retired builder - to take a look around; and were reassured.  And we dismissed our previous preferrred choice of house after his roofer mate inspected and ruled that it would be tricky to replace the flat Georgian roof with a pitched one (lenders and insurers don't like flat).  So I prefer builders to surveyors and having looked online at what a Homebuilders' covers, think that's a waste of time and money.

And inevitably there will be things go wrong. I've had to replace the boiler in almost every one of the  9-10 properties we've ever owned; sometimes within a few months of purchase at a cost between £1.4k and £3k.  So I just assume that expense will crop us and factor it in.  I also now tend to take up home emergency or boiler cover for the first couple of years at least  for anything except a brand new boiler.

WoozieSioux_tse

The buildings survey can be quite useful for older houses if you've no idea of costs as they give you estimated costs. You can even ask them to give guidance on improvements for things like loft conversions. People do need to realise though that it's also an exercise in bum-covering for the surveyor. They are always going to err on the side of caution to avoid litigation. You're unlikely to have to action every suggestion they make. It's more a list of what to start budgeting for and what to keep an eye on in the future. Don't forget, particularly with older properties, you should expect to pay about £2,000 per year general maintenance anyway. Obviously if you have a friendly and competent builder to hand, they are invaluable, maybe take them along to a second viewing?