When considering purchasing a home, buyers will often be aware of the need to have the condition of the property investigated. But what survey is suitable for the property involved and what are the options?
Here, we provide some insight into the Level 2 RICS Home Survey Report and the types of property it is suitable for.
Level 2 RICS Home Survey Report
The RICS (Royal Institution of Chartered Surveyors) is a professional body that sets industry standards for surveying and property-related matters. The Level 2 RICS Home Survey Report is one of its recognised survey types.
Conducted by a Chartered Surveyor, the Level 2 RICS Home Survey Report provides a detailed analysis of the property’s condition, highlighting any significant issues or potential areas of concern. It involves a thorough inspection of the interior and exterior of the property, including the structure, roof and grounds.
Benefits of the Level 2 RICS Home Survey Report
While the Level 2 RICS Home Survey Report is considered an ‘entry level’ survey, it offers several benefits:
1. Cost-Effective: Compared to a Building Survey Report, the Level 2 report is a more cost-effective option for potential home buyers.
2. Comprehensive: The survey covers key areas such as the structure of the property, electrical systems, plumbing, and heating systems. It provides valuable insights into the general condition of the property.
3. Negotiation Power: Armed with the findings of the Level 2 report, buyers can negotiate the price of the property, taking into account any identified issues.
4. Peace of Mind: The report offers reassurance to potential buyers, helping them make informed decisions and avoid potential surprises.
What are the alternatives?
The Level 2 RICS Home Survey Report is often recommended as an entry-level survey by Chartered Surveyors. It provides a general overview of the property’s condition, allowing buyers to gain a better understanding of any issues that require attention.
However, it is important to note that the Level 2 report is not the most comprehensive inspection available and it does not cover the same level of detail as a Building Survey Report. The latter provides a more detailed analysis of the property’s construction and advises on any necessary repairs or maintenance work.
The Building Survey Report includes a detailed inspection of the property’s structure, including the walls, roofs and foundations. It also provides a basic assessment of the plumbing, electrics, and heating systems, providing advice on any necessary repairs or replacements.
Building Survey Reports are often the better option for properties that are older, in poor condition, or have significant issues that require further investigation.
Contact us to discuss the best option for your property
By understanding the difference between the two surveys, potential home buyers can choose the survey that best suits their needs and budget. Our team are happy to advise on the different options available. Please get in touch and speak to a member of our team.
