Homebuyer survey on new properties
The Differences Between a Homebuyer Survey and a Snagging Survey
If you’re thinking about buying a new home, you’ve probably heard a lot about home surveys and why they are important to get before you finalise your purchase. A home survey carried out by a chartered surveyor will ensure that you are able to get as much information as possible regarding the condition of your potential new property before you decide whether or not to buy it. It can be one of the best investments to make when purchasing a property since the information that you receive will inform you about any defects and necessary repairs, helping you to save money by negotiating a lower asking price for the property to cover the cost of repairs, and making sure that the repairs are made as a priority to avoid the issues worsening and becoming more expensive to conduct over time. Choosing the right type of survey will depend on the type, age, and condition of the property that you are planning to buy.
Do You Need a Homebuyer Survey on New Properties?
There are four main types of home surveys available, which are snagging surveys for new build properties, condition reports, homebuyer’s surveys, and building surveys. The homebuyer’s survey is the most popular type of survey for buyers to have carried out on their potential new homes, but is it essential for a new property? In general, it is often up to you to decide if you want to have the more thorough homebuyer’s survey carried out on a newer home but in general, a condition report is recommended. The only exception to this is when you are purchasing a new build home, in which case a snagging survey is designed specifically for this type of property and looks for any problems that you can bring up with the developer under the warranty. If the home is fairly new but is no longer under the warranty, a condition report or homebuyer’s survey is the best choice.
Reasons to Get a New House Survey or New Building Survey:
Never assume that simply because a home is new that there won’t be any issues with it. A snagging survey will bring up any issues with the property that can be repaired by the developer, covering everything from serious structural issues to minor cosmetic problems like chipped tiles or doors that don’t close properly. Getting a survey carried out on a new building is often just as important as having an older house surveyed since it allows you to enter into the process of making the purchase as informed as possible regarding any work that needs to be carried out.
Do You Need a Survey on a New Build?
If you’re going to be purchasing a new build property from a recent development, a snagging survey is the recommended option. This is because new build properties are usually covered for several years by the developer’s warranty. This means that any issues that are found during the snagging survey can be taken to the developer who will be obliged to make the necessary repairs. You can have a snagging survey done any time between deciding to purchase the property and the point at which the warranty expires. However, it’s often advisable to have it done as early as possible in order to catch any potentially serious issues quickly.
Why Does a New Build Need a Survey?
While it’s unlikely that a new build home will be suffering from the issues that are commonly found in older homes such as damp and mould, the fact that a property is newly built does not make it immune to issues that could potentially become serious over time. Structural issues and other potentially costly problems might be more common than you think in new build properties, and a snagging survey gives you the chance to find any issues as early as possible and present them to the developer, who will be obliged to make the necessary repairs under your home’s warranty.
When Do You Need Survey on New Build?
Since new build properties are covered under a warranty, the process of having a snagging survey carried out will usually differ from having a homebuyer’s survey conducted on an older property. Since the developer will be required to make any necessary repairs to issues that have been found in the snagging survey, you are able to have the survey carried out once you have purchased the property if this is easier for you. However, it’s worth bearing in mind that your mortgage lender might require you to have the survey carried out before they are willing to lend to you. But in the majority of cases, you can have the snagging survey carried out either before or after purchasing the property as long as the home is still under the developer’s warranty. Having a survey carried out after the warranty has expired will mean that you are liable for covering the cost of any repairs to the property yourself.
Why Should I Have a Survey on a New Build House?
New build homes are not immune to problems. Although they are unlikely to suffer from many of the common issues that are found in older buildings, they do tend to have different issues that you will want to be aware of before you dedicate yourself to purchasing a new build property. In addition, a new build home still covered by the developer’s warranty means that you will be able to take advantage of this warranty to have any necessary repairs made. The snagging survey looks at everything from serious structural problems to minor cosmetic issues, so having it carried out as soon as possible while the home is still covered by the warranty could save you a serious amount of money compared to waiting until the home is older.
Of course, not all new build homes are still covered by the warranty, which will only last for a certain number of years after the purchase date. If you are looking at buying a new build home that is just a few years old and is no longer under the developer’s warranty, it’s worth considering getting a condition report or homebuyer’s survey carried out. The condition report is ideal for newer homes that are unlikely to have serious defects. During this survey, the surveyor will inspect the different areas of the property using a traffic light system to indicate their condition and point out any more serious faults. A homebuyer’s survey is also an ideal choice, especially if you want a report that goes into further detail. It will look at all the major exterior and exterior features and systems in the property and you will be provided with a detailed report that assesses the extent of any damage, necessary repairs, and the average cost of the repairs.
When to Get a Homebuyer’s Survey on a New Build Property:
If you are thinking of buying a property that has recently been constructed and you will be the first owner, it’s unlikely that a homebuyer’s survey will be necessary. In this case, the snagging survey will be the best choice for you since you can use the findings to have any necessary repairs carried out by the developer under the warranty that they provide. A homebuyer’s survey might be a better option for you in the following cases:
No Longer Under Warranty:
Since the snagging survey checks for minor cosmetic issues and other small problems, you might only be interested in finding out about serious issues if your potential property is no longer under warranty. This is because the developer will no longer be liable for making any minor or major repairs to the property once the warranty has expired. There is also no guarantee that the first owners of the property had a snagging survey and any necessary repairs carried out.
If you are purchasing a new property that you want to carry out significant renovation or building work on in the future, it may be a better idea to have a more thorough survey carried out, such as a homebuyer’s survey or even a building survey. These surveys go into more detail about the condition of the structure of the property, which will provide you with important information for planning renovation work in the future.
New build properties are not always in perfect condition, and if you have noticed issues during the viewing that you are concerned about, or other homeowners on the development have complained about certain issues recently, a homebuyer’s survey can provide you with peace of mind by going into further detail about the condition of the property, including any potential problems that could worsen over time.
Home surveys are often thought of as being important for older properties that are likely to have defects. However, new build homes are not immune from problems. If you want to buy a newer home, choosing the right survey for you is an important part of the process.