The Royal Institution of Chartered Surveyors, of which Home-Approved is a regulated member, introduced its Home Survey Standard on 1 March which all chartered surveyors must comply with by 31 August 2021. Originally intended to be launched last year, it was delayed due to the Coronavirus pandemic and the impact of lockdowns on how surveyors were able to work.
Why the Home Survey Standard is much needed
The new standard is intended to protect buyers and sellers, providing better understanding of the importance of commissioning a home survey and what that survey will cover. This follows research conducted by RICS, which showed confusion about the different types of surveys available. The research showed that:
• 40% of respondents who didn’t get a survey believed that they did not require one.
• 28% of those who were dissatisfied with their surveys believed the information failed to meet expectation.
• 23% felt the language used within the survey report was unclear/complicated.
• 11% felt that the condition of the property was not accurately conveyed within the report.
This feedback led RICS to consult further with professional chartered surveyors and the public alike to bring more clarity to home surveys, introducing minimum requirements and removing the use of jargon, which can be so difficult for non-professionals to understand.
Reports will now be set out over three levels, so that owners and buyers can easily identify which type of survey will fit their requirements, be it a top-line survey of a new-build property or an in-depth inspection of an older property that is more likely to have defects and/or require repairs.
Home surveys by home-approved
A home survey report is fundamental to a buyer’s decision-making process. It can make all the difference to whether a property is a dream home or a money pit to be avoided at all cost, and we are very aware of the important role we have to play.
We have always believed in providing survey reports that are clear and easy to understand and, with the introduction of the new Home Survey Standard, we’ve carried out a review to ensure we will fully comply with the standard.
When you ask Home-Approved to carry out a home survey, you will be buying the expertise of a surveyor experienced in all types of residential property, from period cottages and town houses to new-build homes. We know the areas in which we work and use our local knowledge for the benefit of our clients.
Whilst we can only survey visible defects, if we suspect something needs further investigation we will include that recommendation in our report. Our findings are supported by photographic evidence and we’ll make clear the urgency of any identified issues using a traffic light system, along with indicative costs.
Buying a home is one of the biggest decisions you can make. It’s only right that you have all the necessary information on which to make a considered decision, so if you think you’ve just found your dream home why not give us a call to find out more about our property surveys.