What Is a Level Two RICS Home Survey?

What is a Level 2 RICS Home Survey (and valuation)?

Otherwise known as the HomeBuyer Report, a level two RICS home survey is the most common type of survey used with homebuyers. This survey is a lot more detailed than that of the level one RICS Survey, and provides people with a paper-based report outlining the condition of the main elements of the property in question.

For properties that are between five and seven years old, a level one RICS survey would be sufficient, however for properties that are older than this, and are in reasonable condition, then we'd recommend a level two RICS home survey. Most conventionally built houses, flats and bungalows in reasonable condition are best suited to the level two survey.

What does a Level 2 RICS Home Survey include?

The HomeBuyer Report will provide investors and homeowners with a plethora of information, including advice on construction, repairs and condition. The level two RICS home survey includes:

• A valuation of the property (if requested)
• A physical inspection of the property
• A report based on the findings and results of the inspection

The survey will look at and consider:

• The condition of a property
• Background information of a property and its surroundings, including the location
• Damp testing and an assessment of damp proofing
• Details of urgent problems and major faults that require immediate attention
• Timber and woodworm assessments

The inspection will look at both the inside and outside of a property and will search for any potential defects — walls, pipes, insulation, roofing, timber and everything in between.

Understanding the report

The level two RICS home survey report will outline all of the surveyor's findings in a clear and concise manner, that is detailed yet easy to understand. The report uses a traffic light system, made up of three ratings — green, amber and red — that best describe the condition of the property, any works required and the urgency of such.

What next? And what are the benefits?

Based on the surveyor's report and findings, this enables the purchaser to make a decision on whether the works required are worth it, or not. The main benefit of this survey is peace of mind, or highlighting issues that demonstrate the property might not be right for you after all. Knowing the full condition of the property could save you thousands of pounds and helps during negotiations of the price.

How much does a level two RICS home survey cost?

Whilst a little more costly than that of a level one RICS survey, the price of the level two RICS home survey can vary. This depends on the size and age of a property, and if there are already any known defects. Our expert team of RICS surveyors will be able to advise you of the starting costs for a survey of your property.