House survey or home inspection is important to carry out while buying a house. House surveys may be conducted by engineers, chartered surveyors or anyone who knows about buildings. It is important to choose a qualified professional for house survey. A well trained person can complete the survey in an accurate and efficient manner. Look for a reliable survey company with well-trained surveyors to complete the home survey. What matters is the discipline in which a professional specializes. He must hold necessary insurance and should have undertaken RICS assessment or Royal Institution of Chartered Surveyors. Let us check out the types of home surveys.

What is a basic home survey? 

This is the first and foremost kind of home survey where there is mortgage valuation. While the lender applies for a mortgage, he needs to instruct someone to survey the house to determine its mortgage value. For this, the surveyor charges a fee and this is just the basic home survey. Again, the fee you pay is dependent on how large the house is and the home’s asking price. It is important to carry out a basic home survey that determines the value of the property and also allows a lender to know if he can get the same amount while selling the property. It may happen that a borrower proves defaulter and the lender has to sell the property.

This sort of home valuation is quite superficial and doesn’t provide an accurate value of the house. You cannot get a clear picture of home valuation with basic home surveys.

Homebuyer survey and the benefits 

Homebuyer survey is done according to the format laid by RICS or Royal Institution of Chartered Surveyors. Here you get a report on the condition of the house and it covers the various areas of the house. With a homebuyer survey, you get a detailed report on the actual condition of the house. It also pinpoints the areas that need re-surveying. But then, the home buyer survey has its limitations. It only surveys those areas that are clearly visible and the surveyor also doesn’t look beyond it. This sort of survey assesses the general condition of the home, checks for damp, insect infestation and wood rot. It also checks the condition of the drainage system.

Building survey or structural survey 

Structural survey is among the most expensive house surveys. Here each and every corner of the house is surveyed minutely. The report is detailed and gives a true picture of the house. The survey includes damp testing, takes into account minor and major faults, and also gives technical information on the making of the house and the materials used. 

Depending on your needs, you may take house surveys. Choose a chartered building surveyor for best results.