The Homebuyers report is changing. I’m not sure whether for the better or not. If you are not familiar with the Homebuyers report, it is a mid range inspection aimed at modern property. It’s goal is to identify serious or significant defects only and to provide valuation advice. For more information go to www.martinandmortimer.co.uk/In-depth_survey_information
The aim of the new Homebuyers report is the same as the old one but it will now include ‘condition ratings’ (1-3) to help clarify the severity of the problem. I must admit, I like the idea of condition ratings (although I suspect there will be some inconsistency between surveyors). The only snag I see is that the ratings may become the focus of the report rather than the conclusion of it.
Personally, I rather liked the simplicity of the old style Homebuyers. The new format, to my mind, is overly long and repetitive. I suspect that the new Homebuyers has been born out of the condition report devised by the RICS when it appeared that one would need to be included in the Home Information Pack (HIP) (see www.martinandmortimer.co.uk/Home_information_packs). When this idea was scrapped, the RICS was left with a product with no take up and so decided to replace the existing Homebuyers report with the Condition report (albeit in a slightly altered format).
I am not adverse to change but I do think this is wholesale change for the sake of it. For example, I am sure that the old Homebuyers could have been ammended to include condition ratings.
Having spoken to a number of surveyors on the subject the overall concensus is the same. I suspect (indeed have been told) that surveyors will be increasing their fees for Homebuyers to reflect the additional paperwork required. I am sure that this was not the aim of the RICS and it is certainly not in the interests of the consumer.
My view; commission a Building survey. It won’t cost much more if you use a local independent firm and you will get much better value for your money.