The terms “HomeBuyer Report” and “Building Survey” are still widely used, but under the current RICS Home Survey Standard they are now called Home Survey Level 2 and Home Survey Level 3.
If you are comparing a RICS Home Survey Level 2 vs Home Survey Level 3, the main difference is depth: Level 2 is generally suited to conventional properties in reasonable condition, while Level 3 is intended for older, larger, altered, unusual or run-down properties, or where major works are planned.
If you have searched for an “RICS home buyers report”, you are usually looking for what is now called an RICS Home Survey Level 2. The right option depends on the property and the information you need, rather than simply which survey costs less.
Choosing The Right Building Survey
The cost of a survey is naturally an important consideration, but it should not be the only factor determining which option you choose.
The appropriate level of survey will usually depend on factors including:
- The age of the property.
- Its size and construction.
- Its current condition.
- Whether it has been significantly altered or extended.
- Whether you are planning major renovation or structural work.
- Any particular defects or areas of concern.
- The level of information and advice you want before purchasing.
- Whether you also require a market valuation.
Cost is one factor, but choosing a survey on price alone can leave you with the wrong level of detail. Consider the property’s age, size, construction and visible condition, whether it has been significantly altered or extended, any particular concerns you already have, whether major works are planned and whether you also require a market valuation.
What is an RICS Home Survey Report?
A RICS Home Survey Level 2 is generally suited to conventional houses, flats and bungalows that are built using common materials, are relatively straight forward in construction and appear to be in reasonable condition.
The survey provides information about the property’s condition and identifies significant visible defects. It can also highlight repairs or maintenance that may need attention and indicate where further investigation or specialist advice could be appropriate.
Importantly, a valuation is not automatically included in every Level 2 survey. RICS provides both a Level 2 survey-only option and a Level 2 survey with valuation. The latter includes the surveyor’s professional opinion of the property’s market value and a reinstatement valuation for insurance purposes.
What Is A Building Survey?
What has traditionally been called a building survey is now generally referred to by RICS as a Home Survey Level 3.
This is the most comprehensive level of RICS Home Survey and involves a more detailed visual inspection and analysis of the property’s construction and condition. It describes visible defects, considers the potential for hidden defects and provides more extensive information about repairs, maintenance and the consequences of leaving problems unresolved.
A Level 3 survey is particularly appropriate for properties that are:
- Older or larger.
- In poor or deteriorating condition.
- Unusual in their design or construction.
- Significantly altered or extended.
- Built using less conventional materials or methods.
- Being purchased with major renovation work planned.
Where agreed in advance, the surveyor may also be able to provide estimates for the cost of identified repairs.
RICS Home Survey Level 2 vs Home Survey Level 3: What Is the Difference?
When considering a RICS home survey report L2 vs Home survey L3 report, the easiest way to distinguish between them is the depth of information provided.
A Level 2 survey offers an intermediate assessment and is designed to provide buyers with professional, objective information about the main elements of a conventional property. It can identify defects and advise on maintenance or repairs without providing the same degree of detail as a Level 3 inspection.
A Level 3 survey goes considerably further. It examines the property’s construction and materials in greater detail, considers potential hidden defects and provides more comprehensive advice about remedial work, priorities and likely timescales.
Neither option is automatically right for every buyer. A modern property in reasonable condition may not require the depth of a Level 3 survey, whereas choosing a less detailed survey for an older, altered or unusual property may leave you without the level of information you need.
Can a Property Survey Help Before You Buy?
Yes. A property survey can give you a clearer understanding of the building’s condition before you become legally committed to the purchase.
If significant defects are identified, the report may help you decide whether to obtain specialist quotations, investigate an issue further or reconsider the financial implications of the purchase. The purpose is not simply to identify problems, but to give you better information on which to base your decision.
Which Survey Should I Choose?
For a conventional property in reasonable condition, a RICS Home Survey Level 2 report may provide the level of information required. If the property is older, extensively altered, unusual, in poor condition or you are planning substantial works, a Level 3 survey is likely to provide a more detailed assessment.
If you are uncertain, speaking to a Chartered Surveyor about the property before commissioning the survey can help determine the appropriate level of inspection.
Need Help Choosing the Right Residential Survey?
Vospers Friend & Falcke provide RICS Level 2 Surveys, RICS Level 3 Surveys and Residential Valuations, helping prospective purchasers understand the condition of a property and make informed decisions.
Explore Vospers Friend & Falcke’s residential property services and request a quote
Ultimately, deciding between a RICS Home Survey Level 2 and a more detailed Level 3 survey depends on the property and the information you need. When researching a RICS Home Survey Level 2 vs Level 3 Survey, consider the building’s age, condition, construction and your future plans so that the survey provides the right level of detail before you proceed.
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