What type of survey do you need?
The RICS promotes three levels of survey, from the basic (Level 1) to a fully comprehensive building survey (Level 3). However, the type of survey required will depend on the age, condition and construction of the property you are buying.
Home Survey – Level 1
Formerly known as a Condition Report, this is the most basic survey format. The report focuses purely on the condition of the property, highlighting problems that may require attention, and does not include advice on repairs or ongoing maintenance.
It is better suited to conventionally built, modern houses in good condition.
It will not suit older or complex properties, those in a poor condition or properties which have been subject to extension or alteration.
Home Survey – Level 2
Formerly called the Homebuyer Survey, a Level 2 survey is an intermediate level report with a more extensive visual inspection of the building, its services and grounds.
The report describes the form of construction, condition of building elements and provides an assessment of any defects identified, together with advice on any potential remedial works necessary for repairs and on-going maintenance.
A level two survey is not suitable for complex buildings or those that have been extended or extensively altered
Home Survey – Level 3
More commonly known as a building survey, this is a more comprehensive survey and consists of a detailed visual inspection of the building, its services and the grounds. The report describes the form of construction, condition of building elements and provides an assessment of any defects identified, as well as describing the most probable cause of the defect and the remedial work necessary for repairs and on-going maintenance of the property.
A survey level three report should suit any residential property in any condition, age, of unusual design or construction or one which has been substantially altered or extended.
Most of the residential building surveys we undertake are Level 3, as this provides our clients with a greater understanding of the property and issues that may arise in the future and potentially could impact on their home and its value.
Costs
The cost of our survey will depend on several factors, size of the property, its age, type of construction and value, but as a general guide our Level 3 surveys start from £750 including vat.
With the average price of a home now exceeding £250,000 our report would be less than 0.3% of the value of the property and certainly money well worth spending to protect your future home and its value.
