Failing to get the right house survey could leave you £3,000 out of pocket

Research from Hillarys reveals that over half of new homebuyers are losing out on thousands of pounds

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There's a huge checklist to work through when it comes to buying a new house, and with such a large number of tasks, there's always something that slips through the net.

But according to research by home interior specialist Hillarys, we could be throwing away thousands of pounds by skipping one big task – property surveys.

Hillarys interviewed over 2,000 Britons who'd bought their first home within the last year to quiz them about their experiences. Over 60 per cent of respondents revealed that they didn't know what surveys were available to them when they purchased their home. Of those, 79 per cent admitted that they thought one survey covered everything without the need for additional surveys.

According to the research, this was a pricey mistake for many homeowners, with 58 per cent of respondents finding that their home needed additional work after completing their purchase – which came in at an average cost of £2,790.

The top five surveys undertaken by homeowners were:

  • Condition Report: 61%
  • Building Survey: 58%
  • Homebuyer Report: 31%
  • Electrical Installation Condition report: 25%
  • New-Build Snagging Survey: 19%

Of the 29 per cent who felt happy they had all the relevant surveys done, 90 per cent of those had outside help, such as a mortgage advisor or a friend who knew the process.

Tara Hall, spokesperson for Hillarys, said: 'Buying a house can be a really complicated and stressful process, so it’s important to do your research. If necessary, get some advice from family, friends or professionals who can help you through it.'