While stepping onto the property ladder for the first time marks a major milestone for buyers, many are choosing to purchase their new home without having a professional home survey in a bid to reduce costs. According to the Royal Institution of Chartered Surveyors (RICS) however, buyers who skip this crucial part of the homebuying process face an average of £5,750 worth of repairs after moving in, and 17% end up paying over £12,000 to make their homes liveable.

As a central source of advice and guidance in the homebuying journey, advisers are well-placed to emphasise the importance of hiring a surveyor and highlighting to buyers why having a home buyer (Level 2 Survey) or building survey (Level 3 Survey) is always a good idea.

Why a professional survey?
Buying a property is probably the biggest investment that an individual will make in their lifetime. The last thing that any buyer wants is to be blindsided by unexpected costs after the keys are handed over. Subsidence, damp, damage to timber or hazardous materials, like asbestos, are just some of the issues that a qualified surveyor will look for and which could otherwise be missed.

With buyers facing cost-of-living pressures, it can be tempting for them to forgo the cost of getting in a professional surveyor. However, while a survey might cost, depending on the property, somewhere between £400 and £900, the value and peace of mind a survey offers far exceed the one-time expense.

In some cases, your clients may not understand the need to pay for a survey, particularly when the mortgage lender has already undertaken their own evaluation. However, compared to the more thorough checks of a home buyer or building survey, mortgage valuations are based on a limited inspection of the property. Sometimes only a ‘desktop’ report is carried out with no physical inspection, leaving potential issues like damp and problems with electrics undiscovered until the buyer completes.

The role of an adviser
Advisers are often the face of the homebuying journey for borrowers, so they are well-placed to tell their clients why it’s important to have a survey on their dream home. By championing professional surveys, they are arming their clients with leverage at the negotiating table too. With the knowledge of underlying problems that will require repair works, buyers can confidently push for a more favourable asking price that fairly reflects the costs they will take on – on average, problems uncovered through a survey can knock down asking prices by £5,744.

Additionally, both buyers and advisers now have greater tools at their disposal to ensure they are making informed decisions throughout the buying process. With Legal & General’s Digital Home Survey for example, digital technology is utilised from start to finish, with a surveyor returning a thorough and understandable report within 48 hours. Advisers need to make it crystal clear – a professional survey is the only way to guarantee that buyers have all the information to steer clear of unwelcome surprises and make smart decisions in the property market.

Ultimately, for advisers to provide a comprehensive service that aligns with good customer outcomes, they should be encouraging their clients to secure a professional survey.

Malcolm Webb is technical director at Legal & General Surveying Services