The new RICS Home Survey Standards explained, OA Surveyors

The Royal Institution of Chartered Surveyors (RICS) has implemented new standards in relation to Home Surveys, which came into effect on 1st March 2021. The aim of the new standards is to “increase consistency, transparency and competency across residential surveying”.

There are four different types of Home Survey:

Home Survey Level 1 - This level of survey provides the client with a description of the condition of the property.
Home Survey Level 2 (survey only) - Previously referred to as a HomeBuyer’s Report, this level of survey offers the client a slightly more in-depth survey than the Level 1 Survey. Defects are described and the risk level identified. A valuation of the property is not included.
Home Survey Level 2 (survey and valuation) - Also previously referred to as a HomeBuyer’s Report, this level of survey provides a slightly more in-depth survey than the Level 1 Survey. Defects are described and the risk level identified but the survey also includes a valuation of the property by a Registered Valuation Surveyor.
Home Survey Level 3 - Previously referred to as a full structural or full building survey, this level of survey is the most detailed and thorough survey available. It includes information on the form of construction, the causes of any defects, guidance on how to rectify the defects and much more.

Home Survey Level 1

This is the least in-depth survey, providing the client with a description of the property and associated elements. It doesn’t generally include comments on maintenance requirements associated with the property, or advice on what repairs are needed.

A Level 1 Survey isn't normally recommended for complex properties, older properties or buildings in poor condition. It’s typically used for a recently built property or a relatively simple build in good condition.

Home Survey Level 2

This level of survey comes with the option of having the property valued by an RICS Registered Valuation Surveyor. At OA Building Surveyors, we’re able to offer Level 2 Home Surveys with or without a valuation. The aim of this survey is to provide the client with a professional opinion at a lower cost, but this means the survey isn’t as thorough as a Level 3 Survey.

A Level 2 Home Survey goes into more detail than a Level 1 Home Survey, which is often referred to as a Condition Survey. A Level 2 Survey includes comments on the condition of the property but also advises what remedial works should be carried out, when they should be carried out and who should carry them out. The survey also includes comments on what the likely outcome would be if the remedial works are not carried out, together with comments on any on-going maintenance requirements. However, if the Building Surveyor is unable to define what works are required, they may suggest that further investigations are carried out.

A Level 2 Survey is recommended for a wide range of properties of generic structure and basic construction. However, we wouldn't normally recommend a Level 2 Survey for a property that's in poor condition, that has complex aspects, or a property that's Listed, for example.

Home Survey Level 3

A Level 3 Home Survey is the most in-depth and thorough survey available. This type of survey includes comments on the construction of the building, the materials, the expected life span of the materials, whether any repairs are required, and if so, when and by whom. If there are defects, then these are noted and recommendations on how to rectify the defects are provided, or the client is advised of the investigations required if the repair isn't obvious to the surveyor.

The survey lists future maintenance requirements and advises of the potential risks should the homeowner not carry out the necessary maintenance. Services within the property are often turned on and off to establish if they’re working or not, although this wouldn't be deemed a thorough test and contractors may still be required to carry out further investigations and testing. For example, taps are turned on and off to establish the flow of water and how quickly the water dispenses.

A Level 3 Home Survey is recommended for a building that is in poor condition, that’s Listed or located within a Conservation Area, isn't a standard built property or has complex features. We also recommend this type of survey for a client who wants a thorough report on a property that’s likely to be one of the largest investments of their life!

When to obtain a Home Survey?

A Home Survey should be obtained after you’ve had an offer accepted on a property and before you agree to exchange. It’s better carried out sooner rather than later so that you're made aware of any potential issues or defects at the earliest opportunity, as opposed to finding out just before you want to exchange.

You can find out more by reading the RICS Home Survey Standards document.

Want a free no-obligation quotation for a Home Survey? Call us on 01273 227500 or email us.