Do I need a surveyor report for 3 year old house?

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suzyann

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I plan on buying a 3 year old house - I need to get a Valuation report done for AIB - In addition should I get a surveyor report done given the fact that the house is 3 years old . I believe the surveyors report is just an indepth version of the Valuation report but is significantly more expensive and to have both done is working out at close to 500 euro ... I'd appreciate other people's views on this
Thanks
 
The valuation report is just a basic survey to reassure the lender that the house is suitable as collateral for the loan. If it was me then I would definitely get a detailed structural survey done of a second hand and maybe even a new house. The few hundred € it should cost might is relatively minor in the greater scheme of things (i.e. compared to a mortgage of probably hundreds of thousands) be well spent to make sure that there are no structural issues lurking. It might be possible to get the same surveyor to do the valuation and detailed structural surveys done and save a few bob that way.
 
Yes the house is covered by home bond so I have that to fall back on if there were any problems...
 
Don't depend on HomeBond. They supposedly only cover serious structural issues that the developer can't/won't put right. In my personal experience in dealing with them they cover nothing at all. This is my third post in the same vein in the last few days. Put in place suitable home/buildings insurance (covering the reinstatement cost and not the market value) and ideally get a good snagging or structural survey done up front. Sorry for repeating myself but I cannot stress the importance of doing this enough!
 
I agree with you - I think it is money well spent for peace of mind - Thanks for the response ...I will try to get a deal by getting the same person to do both the valuation and surveyor reports..
 
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