RICS Home Survey
When purchasing a property, it’s crucial to understand its condition to avoid unexpected issues and costs. The Royal Institution of Chartered Surveyors (RICS) offers a range of home surveys designed to suit various needs and property types.
We are a RICS qualified Building Surveying firm supplying comprehensive RICS Home Surveys across Derbyshire. Whether you are buying or selling, A RICS Home Survey will highlight any physical and legal issues affecting the property. We ensure a comprehensive survey no matter the circumstance, giving you the peace of mind that comes from a thorough property evaluation.
Here, we explain the different levels of RICS home surveys and their key differences.
Level 1 Home Survey
(Formerly known as a RICS Condition Report)
The RICS Level 1 Home Survey is the most basic level of inspection and is ideal for newer homes or conventional properties in good condition. This survey provides a snapshot of the property’s overall condition, highlighting any urgent defects or potential legal issues.
It uses a clear traffic light rating system to indicate the severity of problems:
- Green – No repair is needed.
- Amber – Defects that need repairing or replacing but are not urgent.
- Red – Defects that are serious and/or need urgent repair.
The Condition Report does not provide an optional valuation or extensive detail on the state of the property. However, it is an excellent option for buyers seeking a general overview without delving into extensive detail.
Level 2 Home Survey
(Formerly known as a RICS Home Buyers Report)
For a more comprehensive analysis, the RICS Level 2 Home Survey is a popular choice among buyers. This mid-level survey is suitable for conventional properties in a reasonable condition. Our surveyor will conduct a report offering more detailed insights compared to the level 1 Home Survey.
This Survey includes:
- An in-depth inspection of the property’s condition.
- Identifications of any defects, their implications, and the urgency of repairs.
- An assessment of the property’s market value and reinstatement cost (for insurance purposes).
- Advice on maintenance and remedial work required.
A Drone inspection of roof coverings, chimney stack/s, rainwater systems and external joinery
The HomeBuyer Report provides a balanced level of detail for those who want a thorough understanding of their potential property without the depth of a full structural survey.
Level 3 Home Survey
(Formerly known as a RICS Building Survey or Full Structural Survey)
The RICS Level 3 Home Survey, is the most detailed assessment available. This survey is ideal for older properties, listed buildings, or those with unique characteristics. Our qualified RICS surveyor will conduct a comprehensive inspection, covering every visible and accessible part of the property.
This Survey includes:
- A detailed analysis of the property’s structure and condition.
- Identification of defects, their severity, and potential consequences.
- Detailed advice on the necessary repairs, maintenance, and estimated costs. (Subject to agreed Terms of Engagement)
- Information on potential hidden defects.
- Recommendations for further specialist inspections if required.
Drone Survey inspection of roof coverings, chimney stack/s, rainwater systems and external joinery
This survey provides the most exhaustive examination, offering peace of mind for buyers who want to understand every aspect of their prospective property.
Choosing the right Survey
Selecting the appropriate survey depends on several factors, including the property’s age, condition, and type. Our surveyor will guide you through the process, ensuring you choose the survey that best meets your needs.
The Level 1 Survey might suffice for newer homes in good condition. For more detailed insight and valuation, the RICS Level 2 is suitable. For older or uniquely constructed properties, the comprehensive Level 3 is the best choice.
Investing in the right RICS home survey can save you from unexpected issues and unanticipated costs in the future. To whomever you choose to conduct your survey, we advise you to ensure they are a member of the R.I.C.S and adequately experienced.
By understanding the differences between these survey levels, you can more easily decide which level will help you determine whether a property is a secure investment.
