Benefits of a RICS homebuyer survey and report?


We’re living in a cost of living crisis, so it comes as no surprise that many people and homeowners in particular, are trying their best to cut costs in whichever way they can.

Whilst this seems sensible - and it is in many aspects of day-to-day living - it isn’t so sensible when it comes to property.

Purchasing a property, whether for residential or commercial purposes, is a huge investment and of course, every penny counts. However, while it may seem tempting to skip the non-mandatory surveys - this could end up costing you a lot more in the future.

At BTB Surveyors, we understand that all the extra costs that come with moving house and purchasing a property, can be incredibly frustrating - so we’re upfront about all of our costing so there are no surprises or hidden fees.

Here are a few key benefits of a RICS homebuyer survey and report for you to consider. The cost of a RICS survey and report can vary, depending on the property type and the level of surveyor chosen by the purchaser - but whatever the cost, it will be more than worth it.

Here are a few key benefits of a RICS homebuyer survey and report for you to consider.

1. Money saving

Now, this may sound contradictory initially as it is another financial outgoing. But a RICS homebuyer survey and report - regardless of the level, can and will potentially save homebuyers and property purchases thousands of pounds in the long run.

A RICS survey and report can detect any major defects and issues with a property - something of significant importance, particularly for older properties.

From safety, structural and environmental issues to mould and damp, a RICS homebuyers survey and report will identify any various issues, highlighting any works that may need to be carried out in the future.

Any of these issues can come at great cost, and may not be something a buyer is in the position to afford, or perhaps even willing to pay.

Money

Knowing such crucial information, can allow the buyer to decide whether they would like to continue with the purchase. If the report highlights lengthy and costly works, this could end up costing the buyer thousands of pounds to repair.

So, for the price of a RICS homebuyers survey and report, buyers may just be saving themselves a lot more.

2. Reduce the sale price and allow for negotiations
Perhaps most importantly, the results of the report provide evidence and can therefore enable purchasers to negotiate on the price of the property, allowing for the extra costs they wouldn’t have otherwise known about.

The cost of a house is the biggest expense for most of us, however what if there was extra room for negotiating on the price? Well, with a RICS survey - there can be!

If the findings of the report show that there are going to be considerable costs to the property, from a structural, environmental or safety perspective (or anything else!), then this can allow the buyer to lower their offer.

Many buyers may be happy to undergo the future works that come with the property, if they are able to get the initial sale of the house at a slightly lower price.

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3. A professional, unbiased and impartial report
Buyers can rest assured that their RICS survey and report is carried out by first-class regulated experts who remain completely professional and unbiased with their findings.

It is important to know that the report and therefore advice received is impartial, as opposed to simply taking the seller’s word for the condition of the property.

From minor issues to much larger, structural defects, a RICS homebuyers survey covers it all and everything in between. And, no matter how big or small, knowledge is power, and it is important for purchasers to understand every element of such a huge investment.

And, because of the information provided in the BTB Surveyors’ RICS survey and report, our clients can have confidence that everything has been looked at - and in great detail, too.

A RICS homebuyers survey and report provides information that buyers will not be able to find or gain access to elsewhere, making it a really vital part of the property purchasing process.

4. Future proofing

Because of the detail and data uncovered through a RICS survey and report, it enables buyers to future proof and plan appropriately.

Some buyers may not wish to continue with the purchase depending on the survey’s findings, however others may be happy to proceed.

What’s daunting to some, is exciting to others - and as previously mentioned, knowledge is power and that is the key. If people know what to expect, or when potential issues and defects may arise and need resolving, then they can plan time, budgets and building works accordingly.

A RICS homebuyers survey and report is the ultimate tool to allow buyers to future-proof their property.

Keys and door
Those are just a few benefits of a RICS survey and why you should get one on your next purchase.

You never know just how much money you could save - both now, and in the future.

For more information on RICS surveys or to speak to a member of our team, please get in touch by emailing hello@btbsurveyors.com.

BTB Surveyors
Providing the highest quality RICS homebuyer surveys and valuation reports across England.