All posts
Understanding the Different Levels of RICS Residential Surveys

Understanding the Different Levels of RICS Residential Surveys

When purchasing a property, understanding its condition is essential to making an informed investment. The Royal Institution of Chartered Surveyors (RICS) offers three distinct levels of residential surveys, tailored to the needs of different property types and buyers. Each level provides insights into the property's condition, from basic overviews to in-depth examinations. Here’s a breakdown of what each survey entails and when you might need it.

‍

Level 1: RICS Condition Report

The Condition Report is the most basic survey offered by RICS. It’s designed for newer or conventional properties that appear to be in good condition.

What it Covers:

  • A summary of the property’s overall condition.
  • Highlights any urgent defects or issues that require attention.
  • Uses a traffic light system to indicate the severity of any problems:
    • Green: No repairs necessary.
    • Amber: Repairs may be needed in the future.
    • Red: Urgent repairs required.

Who Should Use It:

  • Buyers purchasing a modern, standard construction property.
  • Those seeking reassurance about the general state of a property without requiring detailed advice.
Why Choose It: It’s cost-effective and provides a straightforward overview, making it ideal for properties with minimal risk of serious issues.

‍

Level 2: RICS HomeBuyer Report

The HomeBuyer Report is a more detailed survey that caters to most property types, especially those built within the last century and in reasonable condition.

What it Covers:

  • A more detailed assessment of the property’s condition compared to the Condition Report.
  • Identifies specific defects that could impact the property's value or require repairs.
  • Includes advice on necessary maintenance and ongoing repairs.
  • Provides a market valuation and reinstatement cost for insurance purposes.

Who Should Use It:

  • Buyers interested in properties that may have visible issues but are not significantly aged or unique in construction.
  • Investors seeking a professional valuation alongside condition insights.
Why Choose It: This mid-level survey balances detail and affordability, offering peace of mind about potential repairs and investment value.

‍

Level 3: RICS Building Survey

The Building Survey is the most comprehensive option, ideal for older, larger, or non-standard properties.

What it Covers:

  • An in-depth examination of the property’s structure and condition.
  • Analysis of visible and potential hidden defects.
  • Detailed advice on necessary repairs and maintenance, including cost estimates.
  • Insights into the causes of defects and how to address them.

Who Should Use It:

  • Buyers of older properties, especially those over 50 years old.
  • Properties with unusual designs or materials.
  • Buyers planning significant renovations or alterations.
Why Choose It: For properties with a higher risk of structural issues or unique features, this survey offers unparalleled detail, ensuring you’re fully informed before proceeding.

‍

Choosing the Right Survey for Your Needs

Selecting the appropriate survey depends on your property type, its condition, and your personal preferences. Here’s a quick comparison to help you decide:

  • Condition Report: Ideal for modern properties in good order. Provides a basic level of detail and does not include a valuation.
  • HomeBuyer Report: Suitable for standard properties less than 100 years old. Offers a moderate level of detail and includes a valuation.
  • Building Survey: Best for older or unique properties. Provides comprehensive detail but does not include a valuation.

‍

Why Work with Fisher Wrathall Surveyors?

At Fisher Wrathall Surveyors, our RICS-accredited experts bring decades of experience in assessing properties across Lancaster, North Lancashire, and South Cumbria. Whether you’re a first-time buyer or a seasoned investor, we provide clear, actionable insights to help you make informed decisions.

‍

Request Your Survey Today

Don't leave your property purchase to chance. Contact Fisher Wrathall Surveyors for a free consultation and discover which survey is best suited to your needs.

Call us today or request a quote through our website. Make the smart choice with professional property advice you can trust.

‍