To survey or not to survey?

ftbuk05

Hi, 

In the process of buying a flat in a 1970s purpose built block. I've already had my mortgage offer come through and I'm waiting for my solicitors to start searches. 

The flat needs a complete renovation. New central heating, new bathroom, kitchen, floors etc. Aside from this, it's got "good bones" no damp on external walls, no damp in bathroom or kitchen, no cracks or obvious structural concerns. Windows are double glazed and look to be in good condition (the whole block has the same windows). The property is empty currently, most of the flooring has been removed and the only thing on the walls is wallpaper (which is in good nick considering it is 50 years old). The block itself is very well maintained, as are the grounds. 

With that said, I wasn't planning on doing a Homebuyers Report as I thought it'd be a waste of money but I'm now rethinking. Is it better to just do one, better be safe than sorry type situation? 

I don't plan to use the survey to renegotiate the offer price as I'm happy with what I'm paying and have anticipated renovation cost so nothing is really going to be a surprise as such. 

So, should I get a survey or not?

Thanks in advance.

Kaysee24

We're in the same quandary at the moment. Buying an 80's build, in seemingly good condition and well maintained throughout (accepting this is to our untrained eye), extension around 10 years ago.
 
Everything I read seems to be 50:50 whether to have one or not. Our feeling is they don't really give you much, we don't understand half of it to start with, and everything raised seems to be "we didn't actually check but this may happen in the future and you may need a specialist report".

That said we then twitch a bit at the "what ifs" if we don't get one, so I'm thinking if we are concerned about this we probably ought to go ahead with one.

Irishpearce26

Everything you tell me says no. Depends what survey you would carry out. A homebuyer survey will tell you no more than you already know and as you say its got good bones. Im guessing you have budgeted for all this work or will you use the survey to try and renegotiate?

ftbuk05

Thank you for your comments. 

Kaysee24 said:

 
Everything I read seems to be 50:50 whether to have one or not. Our feeling is they don't really give you much

Agree, everything is 5050 on whether you need one hence why I'm so confused and uhming and ahing. And as you say they don't seem to give much, and apparently don't look beyond what is visible to the naked eye so I'm not sure it's worth it. 

Irishpearce26 said:

Everything you tell me says no. Depends what survey you would carry out. A homebuyer survey will tell you no more than you already know and as you say its got good bones. Im guessing you have budgeted for all this work or will you use the survey to try and renegotiate?

No I won't try to renegotiate, I have budgeted for the works based on the price I'm paying and I'm confident with the price I have got the property for. 

Think I'll stick to my plan of not going with one! 

861117

We were in the same situation recently and in the end paid £500 for a survey to tell us what we already knew , we did not want to renegotiate the price either  but just felt foolish not having the survey. Now our buyer has pulled out so may not even get to buy the property if we don’t find another buyer soon. 
House buying / selling is no fun 😕

Studio150

Hello

I wondered if someone could explain the difference between a Level 3 building survey and a "Full roof and building structural condition defect analysis survey", please?  The latter is a quote taken from a quotation we have received following a comparison search for a Level 3 building survey.  They have quoted us a price considerably cheaper than most others, i.e. £395 inc VAT compared to £510-750 we have received elsewhere.  The firm have very good reviews but the price makes me wonder whether this is exactly what we require.  Their website states that their prices are competitive because their fees are based on bedroom number as opposed to property value/location.  Im sure sure whether this is standard or not?

Any advice would be much appreciated.
With thanks 

Studio150

I should probably add that the property is a large, 2 bedroom semi detached house

seradane

Studio150 said:

Hello

I wondered if someone could explain the difference between a Level 3 building survey and a "Full roof and building structural condition defect analysis survey", please?  The latter is a quote taken from a quotation we have received following a comparison search for a Level 3 building survey.  They have quoted us a price considerably cheaper than most others, i.e. £395 inc VAT compared to £510-750 we have received elsewhere.  The firm have very good reviews but the price makes me wonder whether this is exactly what we require.  Their website states that their prices are competitive because their fees are based on bedroom number as opposed to property value/location.  Im sure sure whether this is standard or not?

Any advice would be much appreciated.
With thanks 

Defect survey makes me wonder whether it's aimed at new builds?