Recent data suggests that a significant number of UK homebuyers not getting a survey when buying a house, potentially exposing themselves to unforeseen repair costs and complications.
In the first quarter of 2024, only 9.7% of homebuyers commissioned a RICS Home Survey Level 2 or higher, according to Countrywide Surveying Services. Buying a home is one of the biggest financial commitments most people will ever make. With so much at stake, it’s surprising how many buyers skip one simple step that could save them thousands of pounds: getting a homebuyer report or building survey.
At first glance, a survey might seem like just another expense. But the truth is, it’s one of the smartest investments you can make during the home-buying process.
Hidden Issues, Costly Repairs
According to Allcott Associates, a whopping 92% of properties surveyed revealed issues that would cost more than £1,000 to fix. Over half had problems that would cost more than £5,000 and one in three properties had repair costs exceeding £10,000.
These aren’t just rare worst-case scenarios. Common issues like damp, structural movement, roof defects, and timber decay often go unnoticed during viewings or even basic valuations. For instance, fixing damp alone can cost around £5,000 depending on how widespread the damage is.
Real Savings Through Renegotiation
A professional survey doesn’t just tell you what’s wrong with the property it gives you leverage. Once issues are flagged, buyers often renegotiate the purchase price or request that sellers carry out repairs before contracts are exchanged.
A survey commissioned by the HomeOwners Alliance found that 1 in 3 buyers who got a survey ended up saving money—either through price reductions or by avoiding costly surprises after moving in.
Peace of Mind (and Budget Protection)
Imagine moving into your dream home, only to find the roof needs replacing or the electrics aren’t safe. Suddenly that dream turns into a financial nightmare.
Getting a survey helps you plan properly. Whether you decide to walk away from a problematic property, budget for future repairs, or renegotiate the deal, you’ll be making informed choices, not expensive mistakes.
Surveys: A Small Price for Big Protection
Surveys typically cost between £400 and £2,000 depending on the property and the level of detail. That’s a relatively small investment considering the potential repair costs you could avoid.
Here’s the bottom line: skipping a survey might save a few hundred pounds in the short term, but it could cost you thousands in the long run.
If you’d like to find out more about getting when buying a house or flat in London, please contact our team of Chartered Surveyors on 0207 737 7243.
