Is a Homebuyers Report worthwhile?

aspley

I am buying a house for circa £400k built around 1930 that appears to be in good condition. The report cost is around £720.

Have people found reports are worthwhile if the property seems to be in good condition? As I say, it appears / seems to be in good condition.

Swash

0.18% of your purchase price is a small price to pay for peace of mind. I'm currently buying a 12 year old house, and still got a survey done. I considered not getting one, but our survey flagged up drainage issues in the garden (we viewed on a dry summers day).

MaryNB

I definitely would. 

The house I bought seemed in good condition during the viewing but I noticed many few cosmetic issues since I moved in and their furniture is gone, god knows what conditional issues could be hidden by a seller carefully arranging furniture.

My surveyor picked up issues with the guttering I didn't spot and the loft which I wasn't able to access during the viewing. Minor stuff (well a lot of reds but the house isn't going to fall down tomorrow and they were expected for an old property) but it was good to get a checklist I can work through in the next few months. 

davidmcn

aspley said:

I am buying a house for circa £400k built around 1930 that appears to be in good condition. The report cost is around £720.

Have people found reports are worthwhile if the property seems to be in good condition? As I say, it appears / seems to be in good condition.

How highly would your rate your skills in assessing whether a house is in good condition or not? I reckon I've got a fairly good idea of what to look for, and I'd still want a second pair of professional eyes to inspect something from the 1930s.

AdrianC

davidmcn said:

aspley said:

I am buying a house for circa £400k built around 1930 that appears to be in good condition. The report cost is around £720.

Have people found reports are worthwhile if the property seems to be in good condition? As I say, it appears / seems to be in good condition.

How highly would your rate your skills in assessing whether a house is in good condition or not? I reckon I've got a fairly good idea of what to look for, and I'd still want a second pair of professional eyes to inspect something from the 1930s.

This, except I'd probably go a step further.

I'd be torn between "I know what I'm looking at", and "Spend the bit extra and get a full structural". 1930s houses are different in construction to modern ones, and they've had a long while to be bodged about by muppets who didn't appreciate that. An HBR does not go into a lot of depth. A full structural won't lift carpets or make holes in things, but you know that the surveyor will be spending a lot more time giving things a Paddington Stare. They aren't different enough that I'd worry about finding a heritage-friendly surveyor (that'd be mid-Victorian or earlier), but I'd certainly want a sensible one-man-band, rather than a big national tick-box chain.

As Mary said - it's a very small percentage of your purchase cost, and a wonky house can swallow money like few other things this side of an ocean-going yacht or a Class A drug habit.

aspley

The main point for me is whether or not the report is good at flagging issues that (may) need attention or, at least, being aware of. Good to know you all feel, in your own ways, it is worthwhile. Thank you.

AdrianC

aspley said:

The main point for me is whether or not the report is good at flagging issues that (may) need attention or, at least, being aware of. Good to know you all feel, in your own ways, it is worthwhile. Thank you.

It's as good as the surveyor - and the access he can get.

If the vendor knows there's a problem in one area, and leaves a large item of furniture in front of that area, the surveyor can't move it.

aspley

AdrianC said:

aspley said:

The main point for me is whether or not the report is good at flagging issues that (may) need attention or, at least, being aware of. Good to know you all feel, in your own ways, it is worthwhile. Thank you.

It's as good as the surveyor - and the access he can get.

If the vendor knows there's a problem in one area, and leaves a large item of furniture in front of that area, the surveyor can't move it.

Fortunately, they have moved out. The house looks immaculate but there may be issues neither they nor I are aware of. I wondered if the report is quite thorough or only skims the surface. Would they go into the loft and check the roof etc?

Reading some companies description, they use words like 'providing a snapshot' and little more to say how comprehensive it is. There is a local firm with a very good reputation so perhaps I would be wise to use them.

p00hsticks

aspley said:

AdrianC said:

aspley said:

The main point for me is whether or not the report is good at flagging issues that (may) need attention or, at least, being aware of. Good to know you all feel, in your own ways, it is worthwhile. Thank you.

It's as good as the surveyor - and the access he can get.

If the vendor knows there's a problem in one area, and leaves a large item of furniture in front of that area, the surveyor can't move it.

Fortunately, they have moved out. The house looks immaculate but there may be issues neither they nor I are aware of. I wondered if the report is quite thorough or only skims the surface. Would they go into the loft and check the roof etc?

Reading some companies description, they use words like 'providing a snapshot' and little more to say how comprehensive it is. There is a local firm with a very good reputation so perhaps I would be wise to use them.

And as Adrian C says, consider whether it's worth paying a bit more for a full structural survey. If you've already found a firm, ask them to expain what each type will cover.  

aspley

Homebuyers Report: £720
Structural Survey: £850

badger09

We’re on our 2nd purchase as cash buyers. 

1st was only 4 years old but they’d done a huge single story extension. Vendors changed their minds after 3 months. 

2nd is 1970s bungalow with a couple of extensions & alterations. Ours sold 8th Jan. 

For both, we’ve had Homebuyers survey & market valuation by same surveyor - largely for peace of mind. Neither indicated anything seriously wrong. 

On viewing bungalow in November, it felt cold & surveyor in December said CH wasn’t on. That might be personal choice     but we’ve asked specific questions. 

Honestly can’t see the point is scrimping when spending that sort of money on what is going to be your home.