“Advice in 2024″ clinical home buyers A home survey”

Reading time 6 Minutes/ Home buyers Survey

In 2024, a UK home survey costs between £290-£1,390, depending on the survey you need and the value of the property. 

One type of survey is called a Level 1 Home Survey or Condition Report. This one costs around £380 for an average house in the UK. But remember, the price can change depending on how much your house costs and how big it is. So, for this survey, you might pay between £290 and £560.

The Level 1 Home Survey, also known as the Condition Report, costs £380 for an average UK home. The price of this report depends on how much your house costs and how big it is. So, it could be anywhere between £290 to £560.https://newhomesinspectionsuk.com/

The Condition Report tells you if there are any big problems with your house that need fixing right away or need more checking. Your surveyor will give ratings from 1 to 3 for different parts of your house. A rating of 1 means no fixes needed, while a rating of 3 means there’s something really urgent that needs fixing.

Here’s a quick look at the Level 1 Survey:

– Best for new homes.

– It’s the simplest and not very detailed.

– Good if you just want to know the condition of your house.

– But it won’t tell you how much your house is worth.

Let’s say Sarah is thinking about buying a house. She wants to make sure everything is okay with it before she buys it, so she decides to get a survey done.

Sarah looks into different types of surveys and finds out about the Level 2 Home Survey, also known as a HomeBuyers Survey. This survey costs £500 on average, but she sees that the price can vary between £325 and £900 depending on factors like the value of the property and the surveyor’s rates.

She learns that this survey uses something called a Traffic Light System to rate any risks or repair work from 1 to 3. That means problems are labeled with either green, amber, or red, depending on how serious they are.

Sarah also finds out that she can ask for a property valuation to be done alongside the survey report, but it might cost her around £50 extra. Since she needs a valuation for her mortgage, she decides to check with her lender first to make sure they’ll accept this type of valuation.https://www.zoopla.co.uk/discover/buying/what-survey-do-i-need/

Let’s imagine Tom is searching for a new home. He wants to make sure he knows everything about the house before he makes a big decision. So, he looks into different types of surveys and learns about the Level 3 Home Survey, also called a Building Survey.

This survey is the most detailed one you can get. It costs around £800 on average, but it could range from £630 to £1,200. Tom finds out that this survey gives a thorough check of the structure and condition of the house. It’s like a deep dive into every nook and cranny of the property.

Even though it seems a bit pricey, Tom learns that this survey can reveal hidden problems that might end up costing him a lot if they’re not caught early. Plus, it comes with recommendations on what to do next, which helps him decide if the house is worth buying.

Let’s follow Emma on her house-hunting adventure! Emma is super excited to find her dream home, but she knows there’s a lot to consider before making such a big move.

As she dives into the world of property buying, Emma learns about something called a Mortgage Valuation or RICS Valuation. This is like a check-up for the house to make sure it’s worth the money she’s planning to borrow.

Emma discovers that the cost of this valuation can vary quite a bit. On average, it’s around £320, but it could be as low as £160 or as high as £600! She finds this fascinating—why such a big range? Well, it turns out it depends on how much the house is worth and which lender she decides to go with.

One thing Emma learns is that this valuation won’t hunt for hidden defects in the house. Nope, it’s just there to reassure her mortgage lender that the property is really worth the amount they’re lending her. Some lenders even throw in the valuation for free, while others might charge around £75.

So, armed with this newfound knowledge, Emma feels more confident navigating the twists and turns of the home-buying journey.

Property ValueRICS ValuationLevel 1 SurveyLevel 2 SurveyLevel 3 Survey
Up to £100,000£220£290£380£630
£100,001 to £200,000£280£290£420£700
£200,001 to £300,000£320£380£500£800
£300,001 to £400,000£370£400£570£900
£400,001 to £500,000£420£420£640£990
£500,001 to £600,000£490£470£740£1,120
£600,001 to £700,000£520£500£790£1,180
£700,001 to £800,000£570£520£860£1,270
£800,001 to £900,000£610£540£920£1,340