1/3 experience buyer's regret over failing to instruct RICS Level 3 Survey

More than half of us fail to get an independent RICS Level 3 Survey done when we buy a new house, but a third of us are then unhappy about issues with the property that only becomes apparent once we move in.

The results of a survey carried out by retailer Terry's Fabric Warehouse revealed that more than 50 percent of Brits resist commissioning a RICS Level 3 Survey.

Figures from the Royal Institution of Chartered Surveyors (RICS) show that one in five of us will opt for the mortgage valuation report before sealing the deal on buying a home.

Those who didn't get an independent survey said they felt the mortgage valuation report had enough information while others felt a survey wasn't worth the money.

But Terry's survey showed there's a great deal of buyer's regret for those who think they're saving money by sticking to the basic mortgage valuation - 35 percent of respondents said they encountered more issues than they expected when they moved into a new home.

The survey showed that more than a third of us aren't happy with our homes, and more than a quarter of us (26 percent) put a £20,000 price tag on turning their property into their ideal home.

Most homeowners said they'd rather remodel their current place than move, but more than a quarter preferred to move to a new place rather than try and improve their surroundings.

Surveyor Local works only with chartered surveyors who are members of RICS, offering a range of RICS Level 3 Surveys that will suit both your budget and your intended purchase.

Make sure you don't experience buyer's regret when instructing a RICS surveyor could reveal any potential issues with your property. Talk to our team now on or get an immediate, no-obligation quote here.