Buying a house in South West Cornwall is such an exciting time. Looking at the different areas, the different styles of property, the different gardens, locations, schools, transport links… and of course, the towns & beaches! I share that same excitement when my clients find the home of their dreams and love assisting with their move as they get ready to start a new chapter.
Of course, there’s more to buying a house in Cornwall than simply falling in love with it. You must make sure it’s a sound property and isn’t going to cause you headaches and turn that dream into a nightmare.
Now that’s where surveys come in. A home survey will help you decide whether it’s a green light or a bright red STOP right now.
Here, I explain the surveys you’ll need to consider when buying a home in Cornwall - One of the questions I get asked most often is:
'Do I really need a home survey?'
The answer is probably, yes. Why? Well, you may love the house you’ve found, but think about this...
Is it structurally safe?
Is it going to need rewiring or things fixing?
Are lots of works required to bring it up to a current standard?
If it’s going to cost you a lot of money and lots of time to correct, is it really the right house for you?
Conversely, if a survey suggests you need to make repairs worth thousands and you still want the place, you could potentially ask the seller to reduce the asking price.
Ultimately a survey uncovers the secrets behind the brick & mortar, a much deeper scratch under the surface. Remember a survey can give you the security that the property is right for you.
Is a home survey a legal requirement?
No, it’s not a legal requirement to have a home survey done on a house that you are buying. You may look at the costs of having a survey done and think the cash is better off in your own pocket. But I would always respectfully suggest that you seriously think about organising a survey.
If it’s a new house, then the survey you need won’t be as expensive as a full survey on an older property that may have issues. If you have a survey that flags up issues, it could save you money in the long run.
I would advise that you take a step back from the emotional thinking and think of your money and your investment, after all a home will likely be the most expensive asset you ever invest in.
Is a home survey the same as a mortgage survey?
No! As a condition of getting your mortgage approval, you may have to get a survey done on the property you want. This is a survey the lender will do, this will be organised by an independent surveyor – to make sure that they can be confident the property is worth what it is on the market for. A survey of this type isn’t anywhere near as in depth as a proper, structural survey and sometimes is done from a distance.
Your lender survey and home survey are two different elements of the home buying process.
If you need help clarifying what type of survey you require, just ask me and I’ll explain. We like to talk in plain English and love to help.
What’s in a survey?
The type and level of survey very much depends on what sort of property you are looking to purchase.
Condition Report
If you are looking at buying a new-build, which will most likely come with a warranty and certain guarantees, you should be looking at a low-level survey. This is known as a 'Condition Report'. These typically cost a few hundred pounds and take a couple of hours to be completed.
Homebuyers Report
A 'Homebuyers Report' costs a little more but is also a little more in depth, usually containing advice on what needs to be done. Perfect for recognising what might be needed for an older property.
Full Building Survey
A full Building Survey cost a fair amount more but is very thorough. It’s ideal for an older property or one that is perhaps unusual. You need to make sure that the house you are buying is structurally safe and this will tell you everything – warts and all.
Your surveyor should be a “a member of a recognised governing body. Remember to always choose your survey based on what you need, not on the cost.
What Happens Next?
Your survey may well point out some defects and highlight what works needs to be done. You need to properly assess whether this is something you either want to do or can afford to do.
Weigh it all up, don’t scrimp on costs, and make sure you know exactly what needs doing and whether you are prepared to take it on.
Should you need further advice on surveys, please get in touch. I am always more than happy to advise you. Email me on daniel.moore@thepropertyexperts.co.uk or call me on 01736 322453.