5th March 2021
If you are buying a property, you may be wondering what the difference is between a RICS homebuyer report and a full detailed survey (also known as a structural report). Both have benefits, and the best one for you will depend on the type, age, and location of the property you are buying.
Here we look at the specifics of each report and when they are best used:
RICS Homebuyer Report
RICS stands for the Royal Institution of Chartered Surveyors. A RICS Homebuyer Report is the standard choice for new or renovated properties in reasonably good condition. It is a detailed inspection of the building that will bring to light urgent and significant issues.
It is advised to be cautious if you are buying a newer or renovated property with a basement, or one that is in an area with a history of subsidence. This is because these things may mean hidden defects that a full detailed building survey may only uncover.
A RICS homebuyer report is the most popular type of survey for those buying properties that are in reasonably good condition. While it is not perhaps as detailed as a full detailed building survey, it will list any clear problems that can potentially affect the property's value.
Full Detailed Building Survey
A full detailed building survey is an in-depth inspection of every aspect of the building. This is recommended for any property in an area known for issues, old, or requires renovation.
A full detailed building survey will highlight defects and potential issues and advise the repairs and work required. You will receive a thorough review of the maintenance needed on the property and its costs. This type of survey will also flag potential legal issues that you could face. If you are buying a property with a history, then a comprehensive survey is recommended.
Choosing which type of report best suits you should hopefully be a little easier now that we have looked at the differences between them. You can obtain advice from professional surveyors such as Taylor Freeman Kataria.
Contact Taylor Freeman Kataria for information on the services we offer on 0208 5999911.