A Home survey could save you thousands on repair bills

More than two thirds of Britons say they don’t know enough about what property surveys are available when buying a house, leaving many buyers almost £3,000 out of pocket on repairs, according to research.

Home interiors company www.hillarys.co.uk conducted the study as part of ongoing research into UK residents’ experiences of purchasing property. 2,056 Britons aged 18 or over, who had bought their first home within the last year, were quizzed on their experiences.

Initially, respondents were asked how they found the experience of buying a home, with the majority (78 per cent) revealing they found the experience ‘stressful’. A further 19 per cent said it was a ‘negative experience’ and the remaining three per cent revealed that they ‘enjoyed’ it. Over half of those taking part in the survey (54 per cent admitted they did not understand what they had to do to buy a home prior to doing so.

When asked if they knew what surveys were available to them when they purchased their home, three fifths (62 per cent) said they did not. Of these respondents, 79 per cent said they believed that one survey covered everything and that they ‘didn’t need any additional surveys done’.

Following on from this, respondents were asked what survey/s they had purchased prior to completing on their home. Figures showed the five top home surveys were:

Condition Report - 61 per centBuilding Survey - 5 per centHomebuyer Report - 31 per centElectrical Installation Condition report - 25 per centNew-Build Snagging Survey - 19 per cent

When asked if they felt they had enough/the correct surveys done on their property prior to their purchase, 71 per cent felt they didn’t. A further 58 per cent found their home needed additional work doing after they completed their purchase, with the average cost found to be £2,790.

Of the 29 per cent who felt happy they had all the relevant surveys done, 90 per cent of those had outside help, such as a mortgage advisor or a friend who knew the process.