Home Buyers Survey - I already live there!

monkeybarry

Hey lovely people! 
Long time lurker, rare poster here.
I am going down the route of buying the flat I live in from my landlord.
I know the question of how much value a Home Buyer Survey holds has been done to death - but i'm curious, I have lived here for three years and seen no signs of any issues that would need addressing. Not even minor ones. The block of flats is only about 30 years old.

Is there really much value in a survey for me? It's surface level. I've seen all of the surface level in detail for years.

Any thoughts?

NameUnavailable

Firstly, you're buying a lease not the flat. The lease is bascially a long term rental agreement but you become responsible for the maintenance of the building and insurance (although you don't own the building or land).

A home buyer survey on a flat is of limited value IMHO assuming you know a little bit about buildings and key things to look for check in terms of condition.

The things to consider are the overall condition of the building, the roof, windows etc., likely maintenance costs in the coming years, annual service charge, any reserve funds?, ground rent, length of lease etc.

eddddy

As you probably realise, in simple terms, your lease will probably say...

• You'll be solely responsible for all repairs in the flat (often including, windows, walls, ceiling, floors, bathroom, kitchen, plumbing, electrics, heating)

• You'll have to contribute to all maintenance and repairs of the building structure and common areas (often including the roof, external walls, foundations, communal areas, garden.)

So, for example, if the roof is sagging or needs replacing soon; or the brickwork needs repointing; or the windows are rotten; or the communal areas need redecorating - you could end up with a sizable bill.

A survey might highlight these things - but maybe you can spot them yourself anyway.

monkeybarry

Fabulous - thank you both, it is really appreciated.
My understanding of the position is pretty much in line with what you have said. I am aware it's the purchase of the lease, and not the actual bricks and mortar; such is the hideous state of leasehold as a concept.
I've been living here for 3 years - there are no clearly visible signs of any structural issues. I also have access to the loft and there are no internal signs of any roof issues.
Two properties have been sold here in the past 6 months, so its a fair assumption that nothing significant came up that would put a buyer off. The managing agents here are actually very pro active with maintenance etc. 
I will be insisting on getting details re; service charge, ground rent, lease length, sinking/reserve fund details, before making an offer - try to avoid any unpleasant surprises and not waste any money.

A homebuyer survey doesn't sound like a good use of money here.

Really appreciate the replies!