An Expert Guide To The Different Types Of Surveys When Buying A Property In London. What Are Home Surveys? What Are Building Surveys? What Are HomeBuyer Reports? What Are Mortgage Surveys? Must I Arrange A Survey For My Chosen Property?

An Expert Guide To The Different Types Of Surveys When Buying A Property

Sometimes The Various Home Survey Options Can Be Confusing

If you’re purchasing a property, you’ll almost certainly have received a recommendation to carry out a survey on your desired new home. However, if you’re a first-time buyer, (or even if you haven’t purchased a home for some time), you may find the various survey options confusing. That’s why our knowledgeable team at Castor Bay Property have put together this expert guide to the most commonly performed home survey types.

What Are Home Surveys?

Residential surveys are detailed inspections that determine the condition of a property. Carried out by a professional surveyor, the survey reports any structural issues like subsidence or unstable walls, while also highlighting any significant alterations or repairs that are needed, like fixing the chimney or roof. The two residential survey types that are most frequently requested are the Building Survey and HomeBuyer Report.

What Are Building Surveys?

Building Surveys are a comprehensive form of survey. More costly than the HomeBuyer report, it’s mostly recommended for listed properties, older homes, or if you plan to carry out major refurbishment or rebuild projects. These reports include all the information supplied in the HomeBuyer Report, except a market valuation, however, it also includes an in-depth analysis of the condition of the property, including an evaluation of the loft and basement (where applicable), and checks behind the walls, ceilings, and floors.

These survey reports include advice about maintenance options, repairs, and defects, including estimated costs and timings, and the possible consequences if the recommended works aren’t completed.

What Are HomeBuyer Reports?

HomeBuyer Reports are detailed surveys which are performed by a surveyor with RICS qualifications. The surveyor attends the property and carries out a visual inspection in detail before showing you their report which uses a “traffic-light” key as well as comments so it’s easy to identify any worrying issues quickly.

Not only does the report include comments about the property’s overall condition, it also highlights any significant obvious problems like subsidence or rot. The surveyor also gives their market valuation of the property as well as the insurance rebuild cost and advice about any defects that could impact the property’s value.

What Are Mortgage Surveys?

If you’re buying your new home with a mortgage, your lender will require a mortgage survey, or valuation, to be carried out. Despite its name, it isn’t actually a survey. Rather, it’s a property overview that assesses its value to determine whether the property represents sufficient loan security.

Must I Arrange A Survey For My Chosen Property?

Property surveys are optional, but they help you to avoid unwanted and costly surprises while giving you complete peace of mind in your purchase. Since you’re spending a huge amount on your new home, spending a little more on getting a survey carried out is a good investment.

The team at Castor Bay Property especially recommend surveys to be performed if:

  • You’ve got specific concerns about any element of your desired property.
  • You’re unsure about the condition of the property.
  • You’re keen to purchase a property that is unusual, old or a listed building.
  • Your chosen property is timber-framed or has a thatched roof.

Our experienced team can help you determine the right kind of survey for you, so if you’re buying a home and need some expert advice, email us today at sales@castorbay.property or give us a call on 02088925656.


Posted on Monday, March 6, 2023

Independent Customer Reviews

★ ★ ★ ★ ★

Sandra M

"I have lived in a property managed by Castor Bay and their services have been outstanding. Tina was our point of contact and from the very beginning she was always super responsive, very helpful, fair and professional with us. We had a few issues in the property that have been immediately picked..."

★ ★ ★ ★ ★

Paul Fogg

"I recommend Castor Bay 100%. They took me through the selling process and gave brilliant help and advice all the way through the process. I had heard about their selling process and totally bought into this before using them. The idea of just working for the seller and not the buyer is so..."

★ ★ ★ ★ ★

Debbie Davis

"It was so refreshing to deal with Sandra at Castor Bay when buying my new home! A totally hands on company, nothing was too much trouble, straight talking and all my questions answered at speed and helpful advice along the way from start to finish! A complete personal service - thank you to..."

★ ★ ★ ★ ★

G Bhandal

"Extremely professional and super friendly service. Sandra in particular was always easy to reach by phone or email and happy to answer any questions or concerns. They made first time buying straightforward and stress free, especially in this financial climate. Would recommend!"

★ ★ ★ ★ ★

Elaine Colley

"Through the whole process of selling my property Sandra was on hand to make sure that everything went smoothly. Communication was excellent, responding to any questions promptly. Thank you Sandra."

★ ★ ★ ★ ★

Miguel Mendez

"I lived in a property managed by Castor Bay for 3 years, In summary an amazing from the letting process, the management of the property and the closure of the contract. I highly recommend them. Very special thanks to Tina Hadzhieva !"

★ ★ ★ ★ ★

christopher jones

"Castor Bay are by far the best agents I’ve dealt with. Highly efficient, prompt and timely and very fair. I would recommend them highly."

★ ★ ★ ★ ★

Esra Turker

"I have received an excellent service from Tina who has proactively managed my rentel prosess. Tina was kind,helpful and professional at all times . She was helpful throughout each stage of the process. She always communicated very promptly . I would definitely recommend Tina and Castorbay..."

★ ★ ★ ★ ★

Sarah Thomas

"If you are looking for someone as dedicated to selling your home for the best price as you, Castor Bay are the team. We had a few complicated property and buyer issues along the way, which they handled expertly, keeping us on track and in our chain. They managed the process from marketing..."

★ ★ ★ ★ ★

Chrissy Randall

"I stayed with one of their properties for a little over a year and all I can say is that I loved this place. This company always tried to get every issue I had solved in a timely manner with pristine results and I never had to fight them on anything. They are always courteous and friendly and..."

★ ★ ★ ★ ★

Kim Vermaak

"We rented a property through Castor Bay, and were absolutely happy with their service from the start until the end. Sandra showed us the property and from the first meeting she was friendly and approachable. Tina was always professional and would help with any query or problem we had. I would..."