What should I budget for a survey and repairs before I buy a home in the United Kingdom?
The mortgage valuation checks whether the home is worth the price, or at least the amount you are borrowing. MoneyHelper says it is not a full structural survey, so it will not list the repairs you may need. Budget £150 to £800 for that valuation if the lender does not pay it. A homebuyer survey can cost £400 to £1,500. A level 1 survey is the basic report and costs around £380, and more as the price rises. A level 2 survey looks for problems such as subsidence or damp and costs around £400, and more as the price rises. A level 3 survey is the fullest report, with repair advice, and costs £600 or more. Choose the survey for the age and condition of the home. The page does not publish a national price per square foot. The survey is there to show work that needs doing. A contractor's quote sets the price of that work.
Money
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