If you’re thinking about purchasing property in the United States or are just curious about what the process looks like compared to the UK, you’re in the right place. Home surveys are an important piece of the puzzle when purchasing a property anywhere but can be overlooked as an unnecessary added expense.
This article will give you the knowledge to understand why this isn’t a step you should pass over and the tools to make the process of finding a qualified surveyor easy.
There are a lot of similarities to the purpose and process of a home survey in the UK, with some key differences. The terminology is slightly different – in the US, essentially, the word ‘survey’ is swapped out for ‘inspection.’ You can expect to see references to home inspectors, inspection reports, etc.
Similar to the UK, inspections are not mandatory but are strongly encouraged. Despite the prevalent refrain of “Buying property is already so expensive! Why would I pay even more if I don’t have to?”—the answer is the same. Home inspectors are trained and certified to spot things that even the most well-informed and knowledgeable potential buyers could miss.
Skipping this step in the purchasing process will save you money in the short term but can be extremely costly if there are undetected issues in your new property. This is particularly important for properties that are to be leased or rented. You can live in a primary residence while work is being done to address electrical, plumbing, or other critical components. Still, issues like this can prevent you from legally renting your new property.
Losing out on rental income while also having to sink money into repairs that could have been fixed as a condition of sale if they had been spotted by a home inspector is more common than you might think and a worthwhile reason alone to cough up the extra fees for a survey.
In the UK, surveyors belong to two leading certifying associations – the Royal Institution of Chartered Surveyors or the Residential Property Surveyors Association. The quality or content of the inspection does not change by association. In the United States (and Canada), home inspectors are certified by their state or provincial governing associations as opposed to a national system like in the UK. Finding a qualified surveyor is the same, however.
If you’re looking for an inspector, go online and find the state association, and they’ll provide a list of inspectors close to the area your potential home is. This is the same for commercial buildings; the title of the inspector may be Commercial Home Inspector if that individual specializes in commercial buildings, but the process they follow for an inspection is the same. Home inspectors specializing in commercial buildings can also inspect residential buildings and vice versa.
There are additional certifications that inspectors can pursue for specialized buildings, but the primary certification allows them to inspect both commercial and residential properties.
You might wonder why a commercial home inspector isn’t called a Building Inspector – there is a reason for this! A building inspector does a similar job to a home inspector, but they do not do pre-purchase inspections. Rather, a building inspector approves renovations or changes to a building instead of providing an assessment meant to inform a potential buyer.
For example, if you bought a commercial space that was once a retail store and were approved to change that space to become a restaurant, a building inspector would come once you had put in your seating, kitchen, etc. to ensure that all of the new elements met the building and safety codes of that area.
Let’s talk about the cost of home inspections in the UK versus the US. First, it’s important to note that home surveys in the UK are more comprehensive than those offered in the US and have several tiers that the potential buyer can choose from based on the property’s age, history, etc.
In the US, average home inspections are $200-$600 plus (that’s £150- £300). In the UK, prices vary from £500- £1,500. That seems like a big jump, but keep in mind the level of detail of UK surveys is much greater than their US equivalents.
There you have it – those are the key differences and similarities between UK home surveys and US home inspections. Now you can feel confident that you know the lay of the land should an investment opportunity present itself across the pond!
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source https://www.jbklutse.com/home-surveys-in-the-uk-v-the-us/
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