Level 2 survey required?

sazandy25

Hi, posting on behalf of my mum.
She currently lives in a 3 bed semi, no remaining mortgage. 
She has put an offer in on a bungalow & has had an offer on hers.
The buyers of her semi are first time buyers & the bank have organised a homebuyers survey.

She will be a cash buyer for the bungalow she is moving into. Should she get a survey done?

The bungalow was built in the 80's. Its in the same area as she lives currently (3 streets away).

Albermarle

It is her decision.
A survey will highlight various problems. Most will be relatively small, but will give some ideas where future maintenance might be needed.
However it might find something serious in a house that is 40 years old, that she would be better off knowing about.
If the bungalow has had any significant alterations or additions, then a Level 3 survey is better.

theartfullodger

If she doesn't mind gambling, say, £100,000 then no.

Might get lucky.

stuart45

The advantage of a survey, especially for people with little experience, is that apart from pointing out any defects, it can help to renegotiate the price if needed.

Tabieth

I would. A survey costs a few hundred pounds which, in the grand scheme of things, is nothing. A survey will identify issues that the buyer can’t necessarily spot and may help save money off the asking price, or identify a property to run a mile from. At the very least it provides some peace of mind. Unless the buyer is an expert in building / trades I think getting a survey is money very well spent. 

Bigphil1474

The general rule of thumb is a Level 3 survey for old houses or houses that have had significant alterations, and Level 2 otherwise. Couldn't find a definition of old, but at least 100 years old. I would suggest a L2 survey is worth the money, unless she knows a really good builder (and roofer, electrician, gas engineer etc.) who could look round with her and tell her what might need doing. 

Albermarle

 Couldn't find a definition of old, but at least 100 years old.

I read somewhere that any house built before the 1950's should have a Level 3. There was some implication that building standards/specifications become more strict around then, but I am not sure of the real reason, or whether that is really a sensible rule.

stuart45

A lot will depend on how well the property has been maintained. When most of the old Victorian terraced houses were owned by slumlords they were often badly maintained and after 100 years or less in really poor condition.
People have different views on surveys. Some will say that they were disappointed with them, as all they did was to give a list of experts required for further investigations.
Others will tell you it was money well spent. A friend of my wife has been moving house roughly every 2 years for the last 40 years and always gets a survey. She claims to always get a price reduction with it.