Why a property survey could save you money when buying a home

When buying a property, there are a lot of additional expenses you might need to factor in, from conveyancing fees to Stamp Duty. So, you might be tempted to skip the survey, but it could save you money.

Research carried out by Aviva (15 June 2026) found that 1 in 5 homebuyers in England, Wales, and Northern Ireland did not commission a property survey when buying their most recent home.

Not only does skipping a property survey mean you’re potentially buying a home without being fully aware of its condition, but you could also be missing an opportunity to renegotiate the price of your new home.

There are 3 levels of property survey to choose from

The Royal Institution of Chartered Surveyors offers three levels of home survey. Which one is right for you will depend on the overall condition of the property and whether you have any concerns after viewing it.

The levels cover:

• Level 1: This is the most basic type of check and is used if you’re buying a new build or a newer property that’s in good condition. The report will use a simple traffic light system to highlight issues you might need to be aware of, but will not provide a deep analysis.
• Level 2: A Level 2 survey was previously known as a “HomeBuyer Report”, and it’s typically used for properties that are in reasonable condition and less than 50 years old. The survey will be more detailed than a Level 1 survey and investigate visible issues, such as damp and the condition of the roof.
• Level 3: Finally, a Level 3 survey is typically used for properties that are older than 50 years or homes that need renovation. The surveyor will provide an in-depth analysis and look beyond visible issues, such as structural integrity. They will also provide you with estimated repair costs.

When you’re applying for a mortgage, your lender will check the property’s valuation, and this is sometimes known as a “survey”. You should note the lender is checking the property is roughly worth what you’re paying, not whether it’s in good condition. So, even if your lender is carrying out its own survey, that doesn’t mean you should skip this step.

A property survey could help you avoid unexpected costs

Hiring a surveyor means you can proceed with a property purchase confident about its condition.

The Aviva research found that, on average, new homeowners spend £3,700 fixing problems after moving in. If you hadn’t been aware of the costs of immediate property maintenance, it could place pressure on your finances.

When you receive a property report, you may find it aligns with your expectations and move forward with buying the property.

If the report highlights a serious issue that you were unaware of, you might decide to pull out of the sale. In many cases, buyers still want to move ahead with the purchase after a survey, but might use it to renegotiate the sale.

Imagine you find out the roof of the property needs to be repaired. You might request that the current owner repair it as part of the conditions of the sale. Alternatively, you might negotiate a lower sale price to reflect the costs you’ll need to pay to repair it yourself.

Here are five tips if you plan to renegotiate when buying a property:

1. Get written quotes from tradespeople before approaching the seller. This shows your seller that your requests are based on real costs.
2. Be clear about your proposal – do you want the seller to fix the issue or adjust the sale price? Do you want the seller to cover all of the cost of repairs or a portion of them?
3. Usually, you’ll communicate with the seller through the estate agent, and you should focus on the facts. Set out the defects that have been discovered and your proposal.
4. Be sure your conveyancing solicitor is aware of any changes, such as a new sale price or conditions of the sale.
5. Remember, it’s a negotiation, so the seller might come back with their own proposal. Be prepared to compromise, but also to walk away if the sale is no longer suitable for you.

Get in touch if you’re buying a new home

If you’ll be taking out a mortgage to purchase your new home, we may be able to help. As mortgage advisers, we could work with you to understand your needs and identify mortgage deals that could be right for you. Please contact us to find out more.

Please note: This article is for general information only and does not constitute advice. The information is aimed at individuals only.

All information is correct at the time of writing and is subject to change in the future.

Your home may be repossessed if you do not keep up repayments on a mortgage or any other debt secured on it.

Approver Quilter Financial Services Limited. 10/07/2026