Have you put an offer an a new house and need a Homebuyer’s report?
A Homebuyer Report (level 2) is similar to a Building Survey (level 3) but less in-depth. It follows a standard user-friendly format set out by the Royal Institute of Chartered Surveyors (RICS). With its straightforward ‘traffic-light’ system, you will get a quick understanding of the general condition of each element of the property.
Our team of experienced and qualified RICS Chartered Surveyors offer detailed Homebuyer Reports that will help you make informed decisions about your property purchase.
Why do you need a survey for new or recently built homes?
Unlike a full building survey, the RICS Homebuyer Report is more suitable for new builds or houses built within the last 100 years. These should be in better condition, however, don’t be tempted to skip it to save money!
Your survey will highlight any concerns or legal issues that you aren’t aware of upon starting the purchase process and save you money in the long run.
We will also focus on any urgent or significant defects that may affect the value of the property and, therefore, safeguard your investment.
Do I need a Building Survey or Homebuyers Report?
RICS Building Survey
● Is the house older than 100 years?
● Are there any major extensions or alterations to the house?
● Do you plan to alter the house in the future?
● Has it been built of non-traditional construction materials?
If you answered yes to the above, then you need a Building Survey.
RICS Homebuyers Report
● Was the house built within the last 100 years?
● Is it a new build or a more conventional design?
● Generally, is it in a reasonable condition?
● Has it been built from common building materials?
If you answered yes to the above, then you need a Homebuyers Report.
What is included in a RICS Homebuyer Report?
Your RICS Homebuyer report will include:
- The general condition of the Property
- Any future maintenance issues and repair advice
- Any serious defects or problems with the property
- Any legal issues such as Boundary Ownership or Rights of Way
- The Reinstatement Cost Calculation (optional extra).
Not only do we provide building surveys, but we can also support you with planning permissions and future building projects. From our experience, we’ve worked with a range of trust suppliers that we’d be happy to recommend or liaise with on your behalf.
What is a Rebuilding Cost Assessment (RCA)?
A reinstatement or rebuilding cost assessment is generally carried out for insurance purposes. As an optional extra, we will calculate the cost of rebuilding a property of a similar standard if your property were completely destroyed.
This ensures there is sufficient insurance to safeguard your investment and support you in recovering any potential losses.
For houses, your reinstatement cost figure is calculated according to the current BCIS Guide to House Rebuilding Costs.
A Rebuilding Cost Assessment can be carried out as part of your Building Survey or HomeBuyer Report for a supplementary fee or as a separate service.
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