Frequently Asked Questions
Does a home buyers report cost more if there are more defects?
The condition of the property will be a factor because it will take longer to complete whilst the surveyor inspects the defects and follows any suspicions as to the cause of them. With this said, the homebuyers report cost is also based on the property's:
- Size - the larger the property the more time it will take the surveyor to complete their inspection.
- Market Value - the more expensive the property is the greater the cost of the surveyor's indemnity insurance that they pay each year. The more high value properties they undertake surveys on, the higher the cost of the surveyor's insurance premium.
- Type - the type of property can considerable increase the home buyers survey price. Types of property include thatched roof, steel frame, timber frame, pre-fab, older (Edwardian, Victorian, Georgian, Tudor)
When getting a quote, always make sure to explain in detail about the property otherwise the cost of home buyers report could increase once the surveyor attends the property. When we provide a Homebuyers Survey Cost, we do so after reviewing the property with you using Rightmove. We can then ensure you get the correct survey for the property you are buying and ensure our quotes are fixed - call us today if you need any help 0333 344 3234.
How can Rightmove help confirm the HomeBuyers Survey Cost?
- Photos - poor condition, defects or extensions will mean the survey costs more and may require a Building Survey.
- Floor Plan - larger sized properties and extension will mean the survey costs more and may require a Building Survey
- Price History - to check if the property is being sold above or under previously sold properties. The higher the property's value the greater the home buyers survey price.
What you can do to help is provide your own experience of the property such as:
- Were there any smells? musty, damp, rotting.
- Was the property warm or cold?
- Did the hot water turn on quickly?
- Was there a loft hatch and was it accessible?
Do RICS HomeBuyer Reports cost more?
RICS surveyors can be more expensive than differently qualified surveyors. They carry professional insurance, trained for in excess of 6 years before being qualified, regulated by The Royal Institution of Chartered Surveyors (RICS) and have a formal complaints mediator (CEDR). The additional protection and regulation comes at a higher survey cost.
The majority of surveys undertaken for home buyers are undertaken by qualified RICS surveyors and the Level 1-3 surveys described above can only be provided by a RICS surveyor. Non-RICS surveyors may offer a cheaper home buyers survey price however this won't be a RICS HomeBuyer Report; it'll be a similar version.
What is the average cost of home buyers survey?
The cost of a home buyers survey varies depending on the factors listed above, however for our clients the average cost of home buyers survey is £400 excluding VAT. The average cost for a Building Survey is higher.
The cost of home buyers survey in 2018 was lower than in 2019 and now in 2020 because the average price of property has increased - higher property vales mean a higher home buyers survey price. The average prices through England:
?
|
Location
|
Average Property Price 2018
|
Average Property Price 2019
|
Find out more
|
|
London
|
£473,252
|
£483,922
|
|
|
Birmingham
|
£188,896
|
£190,195
|
|
|
Manchester
|
£179,408
|
£185,809
|
|
|
Reading
|
£300,690
|
£289,146
|
|
FREE Online Conveyancing Process for Buyers
Includes online checklists, videos, downloads and tips - plus it is completely free to use from start to finish and saves your progress along the way.
Copyright 2014-20. All Rights Reserved. SAM Conveyancing is a trading name of Share a Mortgage Ltd registration No. 08798475. We are an Introducer Approved Representative with the Financial Conduct Authority registration No. 618350. SAM Conveyancing complies with the Solicitors' Code of Conduct 2011 published by the Solicitors Regulation Authority (SRA). Your home may be repossessed if you do not keep up repayments on your mortgage. |
