Buying a property can be a complex process – and an important part is the survey. Your home is probably the largest purchase you’ll ever make, so having a survey makes good sense – and could save you thousands of pounds is costly repair bills. Using the service of RICS members offers real peace of mind because:

• They give you clear, impartial and expert advice
• They act in your interest
• They are tightly regulated and have strict codes of conduct to protect you – including proper insurance
• RICS members have to update their skills and knowledge throughout their careers, so you can rely on their expertise
• You are further protected by our complaints services

Finding an RICS member

To find an RICS member in your area, call the RICS Contact Centre 0870 333 1600 or alternatively email contactrics@rics.org or visit their website www.rics.org

It’s always worth asking your surveyor if they are an RICS member – they’ll have the initials Tech RICS, MRICS or FRICS after their name, look out for the RICS logo.

Unless you’re a cash buyer, you’ll need to arrange a mortgage to buy a home. A mortgage is a loan against the property, and there’s a huge range of different ones available from banks, building societies and other lenders. Mortgage rates vary too, so it’s worth shopping around to get the best deal you can.

What can you afford?

Based on your income, your mortgage lender can help you work out how much you can afford to spend on a property. Most lenders will give you what’s known as an ‘offer in principle’, or the amount they’d be prepared to lend – and it’s useful to get this before you start looking for a home.

Also, bear in mind there are always additional expenses like legal fees and moving costs.

Moving costs

• Deposit – normally 5-10% of the property value. If you take out a substantial mortgage, you may be asked to pay a mortgage guarantee premium
• Mortgage repayments and lender charges
• Building survey or Homebuyer valuation and survey
• Solicitor’s fees, including searches, Land Registry (registry of deeds sometimes in Northern Ireland and stamp duty)
• Removal costs
• Possible connection costs for phone, gas, electricity and water
• Redirecting post

Monthly Costs

• Mortgage
• Buildings and contents insurance
• Council tax
• Water rates
• Electricity and gas
• Phone and internet
• Ongoing repairs and decoration

Decide on the kind of property you want, such as semi detached, terrace or flat – then ask yourself a few questions each time you view somewhere:

• Can you really afford it?
• Is it near the transport links, or schools, or facilities you need?
• Do you like the area?
• Is it big enough?
• How old is it?
• Does it have enough outdoor space, such as gardens and garages?
• Is it freehold or leasehold?
• How easy will it be to sell?

To find suitable properties, we can provide a list of local RICS members who can help with your search. You can also try looking through local papers or search on the internet. It’s probably a good idea to look round several properties and get a feel for the market before you buy.

New properties are very popular and offer lots of advantages:

• They need less upkeep early on
• Fitted kitchens, bathrooms and flooring are often included in the asking price – and you can usually choose the style and colour of fittings
• Some builders also offer a range of home exchange schemes and deals on moving costs
• Building regulations for new properties set high standards of insulation, which means your home should be more energy efficient and less expensive to run.

Most new homes are covered by a National House Building Council (NHBC) Buildmark or equivalent certificate. This provides a 10 year guarantee, but it’s not comprehensive, so don’t assume it covers everything.

Things to keep in mind

New houses often sell at a premium to reflect the included extras. After a few years, the price of new property moves into line with local property market.

Before you buy a new property make sure you have a solicitor on board to check the property:

• Has proper planning permission and is correctly built on it’s allocated plot
• Hasn’t been built on contaminated or filled land – or if it has, you have valid certificates ensuring the land has been properly treated first. This is crucial for building insurance.

You should also get the builder to give you:

• Proper guarantees, such as NHBC Buildmark or similar certificate
• Test certificates and user guides for any electrical, gas or built in appliances
• The final certificate from the local authority building inspector
• Confirmation the property’s energy efficiency matches the SAP (Standard Assessment Procedure) rating provided to the local authority

If you’d like to know more about what to look for when buying a new home, visit the National House Building Council at www.nhbc.co.uk

Non-traditional housing

If you’re looking for something different, you could check out the possibilities of pre-fabricated buildings, constructed in a factory to your specifications and delivered on-site. Off-site construction can include anything from simple extensions built ready to plug into mains services, right through to entire pre-fabricated houses.

You’ll find more information on this type of build from the Housing Forum at www.thehousingforum.org.uk/hf

Older properties and those needing work

If you want to buy and older property, we’d strongly advise having a building survey first. An RICS member will find out if there are any hidden structural problems, and could help you avoid spending a small fortune to fix things at a later date.

When you buy an older property for renovation, you need to check building regulations carefully – your RICS member can help to ensure this is done accurately and professionally. Some major building repairs may also need permission from your local authority building regulations department. Before you buy a property to renovate, work out the total cost of repairs on top of the initial outlay – and decide whether the property is still worth renovating.

First impressions count for a lot – but you should view a property at least twice, preferably at different times of the day, to give you a better idea of what’s on offer. Location is a big priority, so check the surrounding area and local amenities. Here are a few things to think about to make sure it meets your requirements:

• Nearby main roads or pubs, clubs or restaurants – they can be handy, but also noisy
• Nearby railway lines – or overhead flight paths
• The feel of the community – does it seem friendly?
• The aspect of the house – does it get enough light?
• Is the property well maintained?
• The age of the property
• Garden size
• The condition of nearby properties

On the inside, check to see whether:

• The property needs updating – and if so, how much?
• Everything works, like the lights, taps, plugs and windows
• The rooms are big enough
• The fixtures and fittings are going to be included in the sale – especially if you like them
• You like the views
• It feels like home

Your home is likely to be the biggest purchase you’ll ever make, so having a survey is worth it. A survey not only offers peace of mind, but could potentially save you thousands of pounds in costly repair bills in the future.

The Consumers’ Association, the Council of Mortgage Lenders and any solicitor will advise you to get a survey before you buy a property, and not just to rely on a mortgage valuation. Here’s why:

Mortgage Valuation

Your mortgage lender will send a specialist valuer to work out how much the property’s worth so they can decide whether to give you a mortgage or not. The valuer is only concerned with problems that might affect the security of the loan, not whether you have nay structural problems that need fixing.

Surveys

An RICS member carries out a survey to see if there are any structural problems. It’s like ‘health check’ for buildings, which could save you thousands in the future. There are three main types:

• Homebuyers survey and valuation (HSV)
  This is most suitable for conventional properties built within the last 150 years which are in reasonable condition. It provides a concise report detailing any significant problems that could make a difference to the value of the property.
• Building Survey
  This is suitable for all residential properties, providing a detailed report on their construction and condition. It’s particularly useful if the property is dilapidated, has been extensively altered or you’re planning a major conversion or renovation.
• Pre-sale survey
  This is when both seller and potential buyer agree to rely on the information provided in the pre-sale survey. It’s the seller, who without obligation, commissions a pre-sale survey. At the moment pre-sale surveys are unusual but under new legislation they will become more common.

1. Find a home
   The time between your offer being accepted and completion on the property sale varies enormously. Depending on whether there’s a chain involved, it can be anything from four weeks to several months.
2. Your offer is accepted
   Before you sign anything, make sure you know what’s included in the asking price. Check you’re keeping all the fixtures and fittings as listed in the property details If you like the carpets, see if they’re included too. You’ll find furniture isn’t usually included, unless it’s specifically listed.
3. Subject to contract
   Your accepted offer is still subject to contract – which means the sale is agreed but isn’t binding until you exchange. For the time being, either side can back out without facing legal charges.
4. Arrange your mortgage
   If you haven’t already got a mortgage in place, your next step is finding one – or making sure you have the money ready.
5. Arrange a survey
   Ask an RICS member to conduct a survey of the property.
6. Instruct your solicitor
   Ask your solicitor or conveyancer to start local authority searches, and environmental searches if necessary. Once they’re happy with the legal aspects of the property, and you have the finance in place, you can exchange contracts.
7. Exchange contracts
   When you exchange, you usually have to pay a deposit of 10% of the agreed sale price. You complete when the money is transferred to the seller – then you can move in.
8. Move in
   Collect keys from seller’s estate agent and instruct your removal firm.

The estate agent sells your house for you – and they try to make sure they get the best possible deal in the specified time. You pay them a fee for acting on your behalf, so you need to make sure you employ a reputable firm. Ask the estate agent if they are an RICS member and look out for the RICS log.

It’s a good idea to choose a local RICS member with experience of selling homes like yours. Here are some points to follow before you make a decision:

• When getting valuations from different agents – bear in mind the highest valuation may not be the most realistic.
• Check their terms and conditions – charges may vary.
• Find out exactly what you’re paying for – how the agent will advertise your property, and where.
• You may be able to negotiate fees, although most agents charge a standard fee based on a percentage of the selling price. We’d advise against very low fees as the agent will have less motivation to sell your property quickly and for the best price – which means you could actually lose money.
• Agree a minimum selling time. If you’re happy with the service, you can always extend it – and if you’re not, you can change agents when the time’s up.
• Last but not least, try and choose an agent you like – selling a house can be long process, so it’s important you get on.

• Sole agency
  This is where one estate agent takes full responsibility for selling your home, and you pay them the agreed commission on completion.
• Joint agency
  This is an arrangement where two or more agents sell your property and share the commission when the sale goes through – regardless of which agency make the sale.
• Multiple agency
  This is an arrangement where you sell through more than one agent, but instruct them independently – so whoever sells the house gets the commission.

When you’ve decided which agent (or agents) to go with, ask them to come round to discuss the sale with your. An RICS member will offer good advice on the best way to sell your particular property – whether by negotiated contract, auction or sealed bid.

They’ll also tell you how much you can realistically expect to get after you’ve paid all the fees and taxes, and whether smartening up your home will increase the selling price.

Let the agent know how quickly you want to sell, as this could affect their advice. An RICS member can also help you look for a new home if you haven’t already found somewhere and can arrange for it to be surveyed for you.

Once you enter into a contract with an agent, they have to give you details in writing of their charges and the length of contract. Make sure you understand the contract fully before you sign – you don’t want to sign into a lengthy tie-in.

Your RICS member can advise on ways to get the best price for your property. Here are some tips for showing round potential buyers:

• First impressions count, so make sure your house is always clean and tidy.
• Buyers like light airy rooms, so open windows and put lights on if the weather’s dull.
• If it’s winter, put the heating on so it feels warm and inviting.
• If possible don’t have your pets in the house when potential buyers come round – and try to get rid of any pet smells.
• When you show people round, don’t talk too much. Let them ask questions.
• Make viewing easy, so they feel comfortable about coming back.

Here’s a brief summary of the various costs you have to consider when you sell your home:

• Estate agent’s fees
  These are likely to be between 1 – 3 % of the sale price plus VAT. Charges vary from one agent to another, so it’s worth checking on fees in your area.
• Solicitor’s fees
  These vary from place to place. Expect to pay the solicitor about 1% of the total agreed price – but check the range of services they’ll provide for the fee, and ask if they offer a no sale, no charge deal. It’s often worth choosing a solicitor on the recommendation of a friend or colleague – otherwise contact the Law Society on 0870 606 2555 or visit www.solicitors-online.com to find firms in your area.
• Surveyor’s fees
  If you’re moving to a new home, it’s worth paying for a survey on the new property from a qualified RICS member – especially on older properties, or buildings you want to extend or renovate. Again, surveyor’s fees vary, so compare prices before choosing, and negotiate the fee to match the size and type of property. Ask the surveyor exactly what’s covered in the survey, so you know what you’re paying for.
• Moving costs
  The cost of moving varies according to how many belongings you have, how difficult they are to pack, how far you’re moving and the time of year. Shop around for the best deal – and remember it’s worth checking to see if the quote includes insurance.
• Storage
  If you’re not moving straight into a new home, you may have to consider storage. The costs for this vary according to how much you need to store. As a rough guide, a two bedroom house will probably fill up to four containers, and a three-bed house can fill six.