Would you go ahead with a homebuyers report

[hopefully2021]

Just looking for some opinions, FTB buying a 1930s terraced house - already know the house needs a full rewire & new boiler - roof has also been done 5 years ago
Would you go ahead with a homebuyers report still? DH said money spent on the survey (approx £550) could be better spent towards doing some of the repairs we need doing and if we uncover any other problems, we will fix them
What other big problems could the survey pick up which are not visible to the eye?

It would pick up any damp issues for one. I wouldn't risk it. Better to spend £550 and find out it's all ok than try to save and end up spending thousands on something you weren't prepared for so didn't ask for a price reduction to deal with.

When we bought our current house we didn't bother as it was a new build and only 5 years old so mostly still under warranty. We're now buying a house that was built in the 80s and paid £500 for a home buyer's report. I've seen from others here that for some people they've felt like it's a waste of money and "not worth the paper it's written on". We lucked out as our surveyor did a really thorough job, was there for hours and produced a 54 page report. Lots was unveiled that we would never have noticed, nothing that would put us off proceeding, but it's been helpful for us to plan the order of work. We also then used the report to negotiate the price down slightly in light of what was uncovered so we've technically made back the money we spent on the report. My sister had a similar experience with her 1930s semi that she bought a few months ago- turns out it will need a new roof within the next few years which again she used to renegotiate price.

So I think if you can find a surveyor that comes well-recommended it may be worth it just to put your mind at ease or to give you a realistic picture of what you're taking on!

Oh sorry, and to answer your qs of what ours found it was things like re-wiring, new boiler needed (both of which we knew about), but other things like checking for signs of damp, uncovering previous leaks, lack of safety glass in doors, small leak in double glazing, drainage in the garden, condition of exterior brickwork, internal fittings and fixtures, ceilings, walls etc. Felt really comprehensive to us.

I wouldn't buy a homebuyers report, I've seen one done on my property, it was a complete waste of time.
I didn't get any type of survey done on the flat that I currently own (as there's not a great deal that can be assessed in a flat and I was going to do a full refurb regardless).
I have however paid for a full building survey on my next place.
I get the impression that surveys are only useful for the things that they do find. Anything they don't see, they'll have used such wishy washy language in their report they'll ensure that you won't be able to sue them afterwards!
But as I have zero expertise in this area, I'm happy to pay for someone who does, to look over the largest purchase I'll ever make and give me an idea as to whether it's worth it.

Apart from when you buy a new build, it's usually worth getting a homebuyer's report in my experience. They spend longer in the place than you probably will have done on either of your own viewings of the place. You won't have looked in the attic or tested for damp or spotted the use of asbestos and you maybe won't have noticed other things they come up with. If it is all okay, then it probably does feel like a waste of money as there isn't anything for them to say, but I think professional eyes on the place are very useful. I always make sure I can ring the surveyor as well to get an 'off the record' summing up of their opinion. I don't like the idea of doing it to get money knocked off, but if there are major things wrong then it's worth considering renegotiating and the report is evidence for you.

We were given one by our mortgage provider for free and it was complete rubbish. Our independent surveyor was vastly more detailed, helpful, and accurate, whilst also considerably cheaper than the homebuyers report would have been if we had paid for it.

Yes, get one, but don’t go with the mortgage valuation homebuyers report as you’re more likely to get the generic “report writing software” type of report where it’s just pre typed paragraphs with delete as appropriate sections to best match the condition of your house.

If you find an independent surveyor to instruct from the RICS website you should get a better quality report that isn’t made up of generic text. As a PP said, a lot of them offer a phone call afterwards to discuss any queries we’ve got about the report.

Yes! As we had artex ceilings in a Victorian house
Turned out to be asbestos we had to remove 5 ceilings and a few plastered walls

We got 6k off

Also was ex estate agent and I know for a fact that most mortgage valuations are drive by's
Meaning they've phoned 4 estate agents and asked

I'd probably get a full structural survey on a 1930s house, or not bother at all.

Homebuyers surveys seem like lip service, and not worth the cash if you are buying something older/extended/etc.

We didn't bother surveying a 1920s house when we bought it 13 years ago. The utter terror we faced when our current buyers wanted a structural engineer round wasn't fun. It was fine, but that was due to luck more than anything, I can't imagine the pain of being stuck with a house that has major issues invisible to the naked eye!

My buyers had one done this week. He was here 40 minutes.

I think the main points which need checking are the roof, damp and cracks. You have allowed for a new boiler and rewire, not sure what else needs checking. Do you know a decent builder who would go and have a look with you? Might be money better spent.

I was quoted £1,000 for a home buyers report 😲

Our report unearthed

Rear wall - needed removing and replacing, the new kitchen would’ve been ruined
All laths in the plaster were rotten and needed replacing

Plus damp

Didn’t go ahead as the whole thing needed gutting

Thanks all, a bit of a mixed bag - I think I'm going to wait for our searches to come back and then make a decision. Did make me realise that we haven't actually looked in the loft, I wonder if it would be worth doing a third viewing at some point and asking if we can get up there? I'm swaying towards getting one done but my DH and other family members think it will be a waste of money as we already know it needs work doing & we don't want to slow down the process of moving by trying to negotiate a lower price (our sellers have been lovely the whole way through so far & are eager to hit the June deadline)

What's a few hundred quid over a few years living there? You're obviously nervous about there being problems, so get one done.

Just be prepared for the survey to pick up absolutely everything (well if they are any good!)...that makes you just a s worried, lol.

Definitely worth it. First house we tried to buy the survey showed up that it needed a new roof. We backed out and bought this one instead which is basically fine but the survey highlighted a few things that we'll need to get sorted at some point. That firsts survey probably saved us tens if thousands. The second one was still worth it for peace of mind and will help us keep the house maintained so it doesn't develope expensive issues down the line.

I think it’s a case of how savvy you are already regarding renovations v the risk you inevitably undertake when buying any property. Tbh, any homebuyer survey we have had done has been relatively useless (and in one case where it was ordered via the bank, ended up reducing the mortgage offered)

It also depends on the property. Post war to modern - get one. It’s a total misnomer that people think the more modern the property is, the better. Modern houses are built so quickly and with very little skill that you cannot be sure they are built even to the spec you expect.

Period properties have generally been built well, and to last. Your main issue with them is damp, and extensions/development that hadn’t been properly regulated over the years. They tend to be drafty too, and watch for cracks that are beyond the plaster as that can indicate foundation work or subsidence.

We are buying a 1930s renovation and it’s solid construction with no visible issues. We have budgeted 20% contingency for arising issues that will come but, a surveyor wouldn’t pick up on - and if they did, we’d be sorting regardless.

Take proper note of your searches, btw. You can tell a lot about the ground work from them but typically people dismiss searches as a process and not a sign for further enquiry.

Oh of your prospective property is listed, get a listed survey. It’s a completely different kettle of fish and you need a very specific survey conducted by a listed surveyor who understand that period as the obligations can be enormous.