Buying a property can be an expensive process and it seems there is an endless things to pay for: legal fees, surveyors, mortgage fees, removals etc. Many homebuyers will want to keep costs as low as possible and avoid paying for unnecessary services. So, is an RICS home survey worth paying for?
A surveyor can advise you on your future plans but owning a home is not without risk. Getting a survey from an RICS member will help highlight any problems that could lead to expensive surprises later.
The support of a surveyor during the home buying process is invaluable, but it can also be extremely useful after completion. Depending on the type of survey you commission, it will give detailed information about parts of the property which may need repairing or maintaining in the future. Your surveyor can also advise you on any plans you have to extend or alter in the property in the future. Some homebuyer’s reports include a property valuation, so you may be able to revise your offer if the survey reveals a lower price than the mortgage lender’s valuation.
If there’s no valuation included, you could use the report’s suggestions for repairs to renegotiate the price. For example, if it’s going to cost you £5,000 to carry out work on the property’s damp walls, it’s reasonable to offer £5,000 less than the asking price.