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Some clients call them “structural surveys,” although we prefer the term Building Surveys. Many of the surveyors who do Building Surveys are members of the Royal Institution of Chartered Surveyors (RICS), Chartered Institute of Building (CIOB) or Residential Property Surveyors Association (RPSA) and they’ve been trained to a high standard to offer a full range of property advice to their clients. The Building Survey is actually much better suited to doing homes that are over 100 years old or homes that have been heavily rebuilt or altered. That’s because the survey investigates all visible and accessible parts of the property, inside and out. So what you’re getting is more detail, and that means the survey costs a little more than the Homebuyer’s Report.
Are you beginning your journey onto the property ladder in Notting Hill? If so, you will need to know about the RICS Level 3 Building Survey, which is the most comprehensive and detailed survey available. It is what we recommend when you are buying a property, whether you are a first-time buyer or not, since the cost of the property will not just be an up-front figure but will also include any essential repairs and maintenance work that will be required during the lifetime of your mortgage.
No matter if it is your first or 100th time purchasing a house, getting a property survey is absolutely essential! Simply typing your postcode into an online search tool will be insufficient. You need to have in-depth knowledge about the dwelling’s condition and any immediate repair issues. How much will it set you back to remedy a leaky basement? Is that crack in the foundation cosmetic or a sign of something more serious, like potential subsidence? If the property you are interested in has been refurbished, how can you be sure it was done to standard? Those are the kinds of questions a property survey will answer for you. After obtaining one, you can be pretty sure about the condition of your next home.
The finest CIOB, RPSA and RICS-chartered building surveyors in Notting Hill and the neighbouring regions comprise the team of chartered surveyors. If you are interested in having a building survey performed in Notting Hill, we would be very pleased to assist you! We must, however, emphasize that it is crucial to determine which type of survey is appropriate for the property you are purchasing in Notting Hill. For example, a thatched roof survey would be pointless for a flat in Notting Hill. Conversely, a damp and timber survey would be equally inappropriate for a new build flat in central Notting Hill.
Several things determine the type of survey you will need. A few key variables are the age, condition, and location of the property in Notting Hill. Nevertheless, an independent chartered surveyor who works in Notting Hill and knows the local property market can help you make the right choice. The surveyor can also help you understand what the choice means for you and your potential new home. Having the right survey will give you peace of mind; if you don’t have a survey, you’ll have no basis for a negotiation.
The Royal Institution of Chartered Surveyors (RICS) provides guidance on the matter of building surveys. This guidance is structured in a way so that it can be presented in a series of levels. They are:
The Level 1 Condition Report is an entry-level survey that offers a quick, general overview of a property’s condition. It is undertaken most often with modern, more conventional types of property and can be carried out by RICS chartered surveyors. The survey is good value for money, costs around £500, and makes use of common language and easy-to-follow diagrams to communicate its findings, but is not suitable for clients purchasing a property as it lacks detail. A condition report is more relevant to a lease or party wall matter.
The Homebuyer Report Level 2 is a more detailed survey. It is suitable for any standard property and is typically carried out by an RICS-registered surveyor. The report covers visible defects and whether the design, construction, and existing condition of the property are acceptable or if they might pose a significant risk. The survey uses the “traffic-light” system to rate conditions of elements of the structure.
This is the most comprehensive property report available. It can and should be used on all properties, whether the occupant wishes to know about any non-existent structural issues and how to maintain the property. It should also be used when there are known issues, when the client plans major renovations, and on properties that are very old, very large, or complex to construct. Many of the most senior surveyors in the RICS (Royal Institution of Chartered Surveyors) do the work and provide the report. The report offers a look at the property’s condition, from top to bottom, inside and out. The inspectors use their judgment and take all the necessary steps to see if the structural system is intact and performing as it was designed to (or, in the case of older buildings, as it was originally designed to do).
When property buyers engage surveyors to evaluate their potential new homes, the RICS Home Survey (Level 3) tends to be the survey requested most often. While this is the most expensive type of survey and certainly not the simplest or quickest to read, it contains such detailed information that the buy-side can virtually guarantee not being hit with any unexpected major bills after purchase.
These reports are really the overview of any problems in a house and save a person a lot of money if you get what’s called the Building Survey. Every Property Survey will reveal if there are serious issues and problems that could lead to a lot more expensive damage if not resolved.
The expense of a building survey can depend on your requirements and the size of your property. As of now, for guidance, a level 3 survey (full structural building survey) usually starts at about £700, while a level 2 survey (homebuyer report) usually begins at around £600.
Most people seek a mortgage valuation because they think it will yield some beneficial information about the property’s condition—something like a basic, abbreviated building survey. However, a mortgage valuation is not that. It is merely a safety net for the lender.
A lender’s appraiser determines whether the property is worth the purchase price to ensure the lender’s risk is minimized. What happens if the home cannot serve as collateral for the loan?
The Full Building Survey involves a report that is written by our panel of surveyors, and it is their best work. Their equipment is state of the art may even use pole cams (camera poles) for the roofs. Because of this, your surveyor is able to see the accessible areas in an almost microscopic way to produce the most detailed report. This report might cover:
The factors that influence how long a building survey takes are the nature of the property, its size, and the difficulty of its problems. A site inspection usually requires 2-3 hours; this is, of course, a function of the property’s size. If the property is large or if you want specific trouble spots examined, allow for more inspection time.
The answer is: as soon as possible. We recommend that you get the follow-up call on the calendar within one week of receiving the survey report. The purpose of the call is three-fold. First, it allows you to discuss the report with the surveyor in a bit more detail than what may have been covered in the initial debrief. Second, it gives you the opportunity to raise any specific issues that showed up in the report that you’re concerned about or don’t fully understand. Third, it’s a good time to ask the surveyor for recommendations on next steps.
RICS’s industry guidelines suggest building surveys for properties that are large, very old, in some disrepair, or have unusual features. Building surveys are also recommended if you plan to do any significant renovations or extensions.
If you’re purchasing a relatively modern home that’s in decent shape and built to ordinary standards, then a Home Buyer Survey is an acceptable choice. If you want the assurance of an inspection and report that are pretty much guaranteed to turn up any issues that might be hidden or just hard to see, then you should go for a Full Building Survey instead.
The Full Building Survey is more detailed; it is more specifically tailored to the property your surveyor would be inspecting. It also comes with more advice on the visible defects found and on the potential hidden defects that they suspect may be present. Your surveyor will illustrate reports with photographs so that you can clearly see what has been discovered. Both the Home Buyer and Full Building Surveys describe the repairs needed, the order in which the repairs should be done, and the kind of “maintenance measures” that will be required to keep the property in good condition.
A HomeBuyer Report does include a market valuation as well as reinstatement costs. However, a Full Building Survey does not. The main reason for the differences in what is and isn’t included in the two types of reports is how focused the reports are on the condition of the property. The Full Building Survey is the most in-depth and comprehensive survey of a property that you can have done.
The survey can return one of two general results. It can say that all is well or it can return a list of defects, allowing you an opportunity to still walk away from the purchase, negotiate a lower figure, or have the seller carry out the necessary repairs.
If any major issues turn out to be part of the defects list (and major issues can mean something as serious as no basement waterproofing), then the surveyor should advise on what to do. Major issues can also mean a serious impact on the structural integrity of the building, and the conversation with the surveyor can help the potential buyer gauge how much it’s going to hit them in the pocketbook to fix it.
Looking for a Chartered Surveyor? If you are buying a property, contact us for a building survey. Our panel of CIOB, RPSA and RICS surveyors will help you with the Level 2 or Level 3 property survey you need in Notting Hill. We can also assist you in Red Book Valuations, Party Wall Awards and other services. Reach out to us today for building surveyors, valuers and party wall surveyors in London!
