A home survey (formerly known as Home Buyers Report or Building Survey) is simply a report on the condition of a property. It will highlight any defects or problems you may want or need to be aware of on your prospective purchase. A surveyor will carry out an in-depth inspection of the property and provide a report outlining the findings and provide you with important information needed before completing on your purchase.

Purchasing a property will be the most expensive thing you ever do. Before completing on a purchase a Home Survey can give you a detailed picture of the property and the purchase you are about to make. It can highlight any known defects or elements of a property that are in need of repair or will need rectifying in future. This means you can further assess if the purchase is right for you and highlight if there are any upcoming costs and expenses you may need to factor in.

Finding expensive problems early on a Home Survey can be a tool to renegotiate a price or have issues rectified prior to completion or even cancel the purchase and walk away. In short the Home Survey should prevent you from receiving any nasty surprises that will cost you a lot of money.

A survey gives you knowledge and peace of mind.

There is no right answer for everyone. This will depend on the size, type, age and condition of the property, but also your personal circumstances what you intend to do with the property whether any works have been done or will be done by you for instance extending and renovating. At Manx Surveyors we will work with you to figure out the right survey for you and your circumstances. However, in general terms Level 2 Surveys are most suited to properties in reasonable condition without extensions and of a more modern build; Level 3 Surveys are more in depth and are generally more suited to older properties or properties that have been extended or had major works on them as well as larger properties.

No, it is not a legal requirement but still highly recommended. Note, if you are buying a property with a mortgage the lenders may have their own requirements in regards to surveys.

No, a mortgage lenders valuation (sometimes called a survey) is an assessment of a property’s value and assesses whether it is worth them lending you the money and if they can reclaim the debt if you default on the property. The bottom line for them is whether the property is suitable security for their investment in providing a loan and is generally less detailed with less investigation than a level 2 or level 3 survey.

Think of it this way, their report is for their benefit, not yours.

A home survey can be fantastic value for money, particularly if any defects are found. Compared to the cost of a property purchase a survey can be a small expense that can save you large sums of money. For instance, finding out a roof needs replacing could potentially save you thousands of pounds, if not tens of thousands.

Equally, if no defects are found you can have peace of mind and confidence with the purchase which is still a small cost to pay.