Buying a home is one of the biggest emotional and financial commitments you will make in your life. So, it’s important that every step runs smoothly and that you are completely satisfied with your final purchase. Many homeowners, in these situations, may want to consider an RICS Home Condition Survey (Level 1).
But, what exactly does this cover and when should homebuyers consider this type of report? Find out here.
What is a Condition Survey?
The Level 1 Survey, created by the Royal Institution of Chartered Surveyors (RICS), is an expertly conducted, quick surface-level inspection of a property to highlight any evident problems. It is intended to alert the buyer to any significant difficulties before finalising the acquisition.
It makes use of a “traffic light system,” like other property inspections, to draw attention to any construction flaws or damage that needs fixing or maintenance in the future. The Level 1 Condition Survey excludes counsel, suggestions, and the price of the anticipated repairs. Additionally, it excludes a property value, which many buyers find useful.
If you are requiring more information about your property, we recommend that you obtain a more detailed survey. At Surveying People, we also offer both the Level 2 HomeBuyers and the Level 3 Full Building Surveys. Find out more here.
What’s Covered in Level 1?
RICS Level 1 Home Condition Surveys include overall details of the property’s condition; a combination of both interiors and exteriors. However, this is just a brief overview of the building and is the least comprehensive survey available. It is devoid of a valuation and offers no guidance on how to proceed with the necessary repairs. It only emphasises and summarises the flaws in the property and any concerns present.
It will address some of the typical problems that are present in all properties as well as any glaring surface problems. Any serious problems will be identified and highlighted so that this report can be passed on to the seller or appropriate contractor.
When Do You Need a Home Condition Survey?
Though the condition report does not go into excessive detail, it is the most cost-effective survey available. If you are wanting simply just peace of mind that you’re getting your money’s worth with your property, Level 1 is the most suitable.
Also, for conventional properties that are new builds or less than 5 years old, the Level 1 survey is advised. But, this should be in situations where the property is in a respectable condition already and the survey is only applied to ensure there are no serious structural issues.
With over 30 years of experience in the construction and surveying industry, our team at Surveying People consists of RICS-qualified surveyors and EPC inspectors. Our London surveyors cover areas including the North, North West, Harrow and Central boroughs. Our surveying services range from the RICS Condition Survey (Level 1), to the most comprehensive Building Survey (Level 3). Whatever your specifications, we are here to help. Find out more here.
For more information, or to receive a quote on our residential surveys, fill in our form here. Or, speak to one of our homebuyer surveyors today and call us on 020 8203 1281.
1 thought on “When Do You Need a Level 1 Condition Survey?”
Pingback: FAQs on Homebuyer Reports | Surveying People