When it comes to finding the right residential survey, it’s important to take in certain considerations and ensure that the property is receiving the best survey tailored to them. There are a number of factors that can affect this choice, including the size and age of the property.
What is a Residential Survey?
A property survey is a professional inspection of the state of a building. The professionals, or homebuyer surveyors, examine the property and let you know whether there are any difficulties with the condition of the building. This can range from minor defects that do not affect the property’s state, to serious structural issues that require immediate resolving.
Whether it’s repairing a damp patch or completely rebuilding a roof, they will identify what repairs or modifications are required. The surveyor’s report offers a professional analysis of the building, including information on the walls and glazing types. It is up to the home buyer to arrange these residential surveys, so it is important to understand what you are getting from each level of RICS home buyer reports.
RICS Condition Report – Level 1
The entry-level survey, and the most fundamental of the three types, is the Level 1 Condition Report. The customer can anticipate a basic evaluation of a property, including the identification of any urgent flaws, legal concerns, and potential hazards.
The Level 1 Condition Report, the least expensive survey, just identifies the problem areas without going into more detail. This kind of building survey is perfect for people who don’t want to spend a lot of money and only need a broad assessment of the property’s condition.
RICS Homebuyer Report – Level 2
Generally speaking, this kind of residential survey is appropriate for homes up to 60 years old that are not fully renovated. The Level 2 Homebuyer Report will assess each area’s status, much like a Level 1 Condition Report. Surveyors will then provide more information on any defects found, including roof spaces and cellars and suggestions for how to address them.
The report will also include suggestions on how much money should be allocated for any repairs and how much future maintenance would be needed. Offerings for RICS Home Survey Level 2 can include or exclude a valuation. If you choose a Home Survey Level 2 with Valuation, it will also include a market value, an insurance reinstatement amount, and a list of issues the property surveyor thinks might have an impact on the property’s value.
RICS Building Survey – Level 3
The most thorough residential survey currently available is the Level 3 Building Survey report. The scope of the Level 3 Building Survey, which goes beyond that of the Level 2 HomeBuyers Report, includes a thorough examination of the property. These building surveys cover more ground and offer detailed advice for the builders to resolve any immediate issues.
This should, if at all possible, also give precise repair suggestions and the criticality of any needed repairs. The survey also informs the client of potential dangers if the suggested repairs are not carried out promptly. Level 3 Building Surveys are typically undertaken for buildings that are more than 60 years old or in dire need of a complete renovation.
Once you have decided what residential survey you require, it is then important to ensure you are hiring competent homebuyer surveyors, who have industry experience and are all RICS-qualified.
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. Find out more about the different types of home buyer reports 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.