Should I skip a house buying survey?

Frankleebrian

I could soon be in a position to buy my mother's property which I have lived in on and off for the 
last forty years, continuously for the last three. Looking at the cost of house surveys, about £600,
I am tempted to skip paying for one as I think I know the house very well, would I be foolish to
do this? Thanks.

Richiem1987

No, as it can highlight potential issues. For example, mine highlighted a lead water feed pipe from the mains, which needs checking by a specialist for condition and to get a rought idea of replacements costs. 

The survey could also highlight bigger issues, such as evidence of ground movement, home improvements done on the cheap etc that effect structural integrity. 

They will highlight issues that you haven't thought about that could cost you a tidy sum of money later on down the line. It is definately worth getting done. 

Section62

Frankleebrian said:

I could soon be in a position to buy my mother's property which I have lived in on and off for the 
last forty years, continuously for the last three. Looking at the cost of house surveys, about £600,
I am tempted to skip paying for one as I think I know the house very well, would I be foolish to
do this? Thanks.

If the survey comes back really bad, would you not buy the property or ask your mother for a substantial discount?

Otherwise if you are buying with a mortgage then the mortgage co will have their own requirements, but beyond that it is entirely your call.

The other issue is what would happen if you don't buy?  Will the property still need to be sold, and if the buyer's survey identifies issues would your mother be willing to take the hit on the valuation?  Also, are there other family members involved in the decision-making process?

babyblade41

I never have a survey as I know what I'm looking for , so really it depends how experienced you are at knowing where things could go wrong but you probably know most of it anyway 

If you have a lender then this maybe different 

canaldumidi

Frankleebrian said:

..... I think I know the house very well, would I be foolish to
do this?

Depends entirely how confidant you about this statement.No one can advise you as only you know

* how much faith you have in your own ability/knowledge

* how well you know the house

* what risk level the house is (eg age, condition etc

* what risk level you are happy to take

Frankleebrian

Thanks for the input.

No mortgage involved and the only botched DIY projects were my late father's.
Solidly built 1950s house with no damp problems, although it needs rewiring.

davemorton

If you want to buy it anyway, and you know the house and its history, why waste £600.  

Noneforit999

Personally no, I wouldn't bother but ultimately its a risk for you to decide on. 

We are buying my Wife's late Granparents house and I won't be getting a survey. 

As said by a poster above, if the survey comes back with a list of things that need doing, would you not buy it or offer less? 

Does it need rewiring or is recommended to rewire it?

It only needs rewiring if the cables are pre PVC or there are issues with it somehow such as broken ring circuits or undersized cables for cookers etc. If the cables are PVC and have earth cores present in them, it doesn't need a rewire but might require some remedial works to ensure all circuits are earthed, and the consumer unit might need upgrading.

A rewire is not a small job, you are talking chasing cables into walls and ceilings, ripping up floorboards, replacing skirting to get access to cables etc etc.

movilogo

If you know the house well and there is no requirement from lender to do one, there is no need. Home buyer survey is essential when lenders demand it and you really have no clue about the house you are buying. Neither applies in your case.

user1977

If you know everything about what's happened to the house in the past 40 years then I don't really see the point. If you want to check out things like the wiring or lead pipes, those don't need a surveyor involved (who is likely just to refer you to specialists anyway).

canaldumidi

Just to add, though, if the house needs re-wiring I'm guessing it needs updating generally.

You may not need a survey to identify major issues which could make you think twice, but a survey might give you a good idea of what needs doing and when.

My survey gave me 3 useful lists

* jobs to do straight off (improve ventilation, re-wiring etc)

* jobs to do in 1st year

* jobs to get round to when money available

Each list had 10-15 items, many of which I'd not have thought of myself, so the survey was very useful.