In Scotland, you’ve probably heard of something called a “Home Report“. But what is it, and how much could you lose if you tried to sell your house with it? When you enter a seller’s market, it’s important to consider all costs, therefore the purpose of this blog is to assist you to estimate how much a Home Report might cost you.
A Home Report is required before a property in Scotland is put on the market. There are 3 components to a home report:
- Property Assessment – a surveyor’s evaluation of the property’s condition, accessibility, and value.
- Energy Performance Certificate (EPC) – a surveyor’s evaluation of the building’s energy efficiency and environmental impact.
- Property Questionnaire – a document issued by the property’s seller that contains further information on the property, such as Council Tax charges and other fees of use to the new buyer
The Home Report may be made available to prospective buyers upon request.
How to obtain a Home Report Quote
Although it is unlikely that surveyors will charge significantly more or less for a Home Report, there are a few things you should look at before getting one:
- Does the surveying firm regulated by the Royal Institution of Chartered Surveyors or RICS?
- Are the surveyors have knowledge of the local area where the property is situated?
- Does the surveyor’s office be found within the area or close by?
If the answers to these three questions are affirmative, then you have at least selected a surveyor to carry out your Home Report who has the necessary training and experience.
Why Home Report Costs Differ
A typical Home Report Cost might vary from area to area and town to town, like most goods and services. Why is that so? In most cases, a surveyor will base their quote on the amount of time needed to do a certain task or, in the case of Home Reports, the amount of time needed to go to, inspect, appraise, and report on a property.
Therefore, a surveyor will consider a property’s location, age, size and value when estimating the cost of a Home Report. A Home Report can vary depending if the surveyor needs to go further and takes longer to evaluate, the value of the property, and report on the property. If the property is huge, old, solitary, and high value, you can anticipate it to be more expensive. It will cost less to purchase a Home Report if it is tiny, relatively new, and of lower value.
How much should you expect to pay for a Home Report?
The lowest price that a surveyor is likely to charge is £350–450 plus VAT, assuming there are no special conditions affecting a property. Typically, this applies to properties in urban areas that are under £100,000 in value.
You may expect to pay between £350 and £400 for your report if the value of your home is between £100,000 and £200,000 (the average value of a home in Scotland).
*Prices are subject to change without notice.
What is covered in the Home Report Cost?
The surveyor is not just appraising the property; they are also drafting a report on its overall condition and, in particular, any places where a buyer might need to make repairs and incur costs. A mortgage valuation report, which will only contain information of interest to the buyer’s mortgage provider, and an energy report called Energy Performance Certificate will also be included in the cost of the Home Report by the surveyor.
Contact us to get a Home Report quote
To discuss your needs and get a Home Report Quote, contact us at 0141 881 8795 or visit our website for more information.