Why Do I Need a Home Survey?

Buying a home is an exciting process, whether it be a first-time purchase, the next step up the ladder, a downsizing exercise or an investment. However, before you finalise the purchase, it’s important to establish the true condition of the property and potential home before committing to purchase.

Home movers both new and experienced will hopefully recognise the importance of commissioning a home survey by a RICS-accredited Surveyor. Sometimes, however, there are confusing or grey areas that some prospective home buyers – particularly those buying their first property – need help to understand. 

This article looks to break those down, and will delve into what home surveys entail, why they’re important, and specifically explore the RICS Level 2 and Level 3 Home Surveys.

What is a House Survey?

A survey is a detailed inspection of a property’s condition, conducted by a RICS-accredited Surveyor. 

The survey aims to identify any issues or defects, whilst also providing context regarding the urgency of repair, allowing a buyer to make further investigations, where necessary, before commitment to purchase.

The most common types of surveys are the Level 2 Home Survey and the Level 3 Building Survey. Residential surveyors also carry out valuation and expert witness reports, as part of the residential sector.

What Does a Home Survey Include?

The type of survey is typically dictated by the age and type of property, with the Level 2 Home Survey suited for conventional residential property, commonly built within the past 100 years.

The Level 3 Building Survey is more suitable for older properties or those that are individual in nature or have been significantly extended or altered.

Here’s a brief overview of what you can expect from the RICS Level 2 and Level 3 surveys, as these are most requested during the home-buying process.

RICS Home Survey Level 2 Report (Home Buyers Report)

• Visual inspection: The surveyor conducts a non-invasive, visual assessment of the property’s internal and external areas, such as chimneys, roof coverings, walls, roof structures, windows, pipes, roofing, etc., detailing their general condition.
• Report: You receive a detailed report outlining any significant issues affecting the property’s value or safety. The Level 2 report’s condition ratings range from 1 (no repair needed), 2 (defects that need repairing/replacing but are not urgent) and 3 (serious defects that require urgent repair, investigation, or replacement).

This impartial report helps prospective buyers make informed decisions regarding the purchase and obtain peace of mind.

There is also a reference to legal issues identified onsite including the need for legal advisors to check building regulations, planning consents and Listed Building consents, as necessary.

RICS Level 3 Survey (Residential Building Survey)

• Comprehensive inspection: In addition to the elements covered in a Level 2 Home Buyer survey, a RICS Level 3 survey involves more in-depth scrutiny.
• Detailed analysis: The surveyor provides a thorough analysis of the property’s condition, highlighting any problems that require immediate attention, are serious or hazardous, or could affect the market valuation. Advice, repair options and photographic evidence will be given to you which you can then provide to legal advisors before committing to a purchase. This allows a buyer to progress in confidence with a thorough understanding of the property’s condition.

Differentiating Between RICS Home Buyer Surveys

While both surveys share the same purpose, the key difference lies in the level of detail and thoroughness. 

A Level 3 survey provides a more comprehensive examination, making it ideal for larger, older, unusual, or listed properties or those in need of extensive renovation. On the other hand, a Level 2 survey is suitable for more conventionally built and well-maintained homes where a more straightforward assessment suffices.

Inevitably, there is a cost difference between the Level 2 and Level 3 surveys, reflective of the additional time spent both inspecting and reviewing the findings to provide advice on both current condition and future maintenance.  

Why Are Home Buyer Surveys Essential?

Peace of Mind

A house purchase is one of the most significant investments that any person will make, and a thorough survey helps ensure you are making an informed decision. By identifying potential issues early on, you can avoid unpleasant surprises after moving in, and progress in confidence and full knowledge. If there are issues that you were unaware of, now is the time to find out about them.

Negotiating Power

The findings within the survey may allow for negotiation with the seller to address any issues discovered or adjust the sale price accordingly, ensuring you secure the best possible deal.

Protecting Your Investment

A home buyer survey serves as a proactive measure to protect your investment. By addressing minor issues promptly, you can prevent them from escalating into costly repairs down the line, whilst also putting you on notice of future repairs.

RICS Surveys for Home Buyers

Whether opting for a RICS Level 2 or Level 3 survey, a detailed survey forms a crucial part of due diligence and safeguards your investment.

The quality of surveys can vary across different providers and there is a temptation to choose a surveyor based solely on pricing, however, it doesn’t take a huge number of defects to be flagged up to outweigh any additional costs in opting for an experienced company. You need to be comfortable with the surveyor that you instruct as your future house move is potentially in their hands.  

A typical house built in good condition will typically require a Level 2 survey, while older homes or listed buildings with unconventional features may need a Level 3 survey. 

If you require bespoke property survey reports or valuations across the East and West Midlands, South Yorkshire, Norfolk, and Cambridgeshire, trust CWH Surveyors LLP. We have a strong reputation for providing cost-effective, quality reports, with excellent feedback from satisfied clients.

Whatever building survey you require, we’ll be sure to give you the best possible advice and complete transparency. Contact us today for an initial conversation, advice and to arrange a RICS survey today.