How RICS Home Surveys Can Save Homeowners Thousands in Unexpected Repairs

Did you know that 23% of homebuyers successfully negotiated a lower purchase price (Source: RICS Consumer Survey 2024) after receiving a survey report? Yet, many buyers still rely solely on mortgage valuations, which do not assess the condition of the property. A professional RICS Home Survey (whether a Level 2 or Level 3 survey) can help buyers make informed decisions, prevent financial surprises, and even negotiate a better deal.

According to the 2024 RICS Consumer Survey, 51% of homebuyers said they would find advice on potential problems and repairs useful. However, without a professional survey, buyers may unknowingly take on a home with hidden defects that could cost thousands to repair.

Structural issues are among the most expensive problems homeowners face. Roof defects, damp, and structural concerns rank among the most common issues flagged by surveyors, according to RICS Regulation Data.

🔹 Typical roof repairs can cost upwards of £10,000 (Source: Checkatrade, 2024), yet many buyers don’t check for issues before purchasing.
🔹 Damp repairs can range from £3,000 to £15,000 (Source: Property Care Association, 2024), depending on severity.
🔹 Foundation repairs for subsidence can exceed £25,000 (Source: NHBC, 2024).

With an RICS Level 3 Home Survey, buyers receive a comprehensive assessment of these risks, enabling them to negotiate repairs or budget accordingly.

Consumer Insight:
✅ 28% of buyers followed up on survey recommendations by hiring a qualified professional to inspect electrics or heating.
✅ 23% negotiated a price reduction due to survey findings.

Renovations often expose unexpected issues, from outdated wiring to plumbing failures. An RICS Home Survey can highlight these risks before purchase, preventing unbudgeted expenses.

🔹 Old wiring may need a full rewire, costing £5,000+.
🔹 Boiler replacements can cost between £2,500 – £5,000.
🔹 Plumbing issues could lead to costly leaks and water damage repairs.

💡 RICS research found that 37% of buyers would find cost estimates for repairs useful, yet many proceed without this knowledge. A Level 3 survey provides a more detailed assessment, identifying potential problems and their implications, ensuring buyers don’t face hidden repair costs after move-in.

Energy efficiency is increasingly important for homebuyers. The latest RICS survey shows that 30% of buyers now consider energy efficiency improvements.

🔹 Surveys assess insulation, heating systems, and renewable energy potential.
🔹 Upgrading energy efficiency can reduce household bills by up to 20% annually (Source: Energy Saving Trust, 2024).
🔹 Older homes often require insulation, double glazing, or heating upgrades, which can be factored into negotiations or long-term budgeting.

An RICS Home Survey does more than just identify immediate issues, it helps homeowners plan for future maintenance. The RICS Home Survey Standard (2019) emphasises proactive planning, ensuring reports include:

✔ Maintenance advice for key property components.
✔ Guidance on service installations such as electrics, gas, and drainage.
✔ Early warnings about issues that could become costly over time.

Consumer Insight:
✅ 33% of homebuyers want advice on property maintenance.
✅ 36% value information on service installations such as electrics, gas, and drainage.

By addressing minor issues early, homeowners can extend the lifespan of key property elements and avoid expensive emergency repairs.

While some buyers may see a Level 2 or Level 3 Home Survey as an additional cost, it actually provides substantial financial protection.

📌 Identifies costly defects before purchase.
📌 Recommends budgeting and obtaining quotes.
📌 Helps negotiate a better deal.
📌 Offers long-term maintenance insights.

For those looking to protect their investment, a professional RICS Home Survey from a qualified surveyor is an essential step.

👉 Don’t let hidden defects drain your finances. Get peace of mind before purchasing your property.
Schedule your RICS Home Survey with Nuven Surveyors today!

Q: How long does an RICS survey take?
A: The duration depends on the type of survey. A Level 2 Survey typically takes 2-3 hours, while a Level 3 Survey can take 4-6 hours, depending on the property size.

Q: Can I use a survey to negotiate the price?
A: Yes. 23% of buyers negotiated a lower price after receiving their RICS survey report. If significant defects are identified, you can use the findings to renegotiate.

Q: Do I need a survey if I already have a mortgage valuation?
A: Absolutely. A mortgage valuation is not a survey—it only assesses the value of the property for the lender. An RICS Home Survey provides a detailed inspection of the property's condition.

Q: What’s the difference between a Level 2 and Level 3 survey?

Q: How soon can I get my survey report?
A: Reports are typically provided within 3–5 working days after the survey is conducted.

Have more questions? Contact us at Nuven Surveyors for expert advice.

References & Sources

1. RICS Home Survey Standard (1st Edition, Nov 2019) – RICS.org
2. RICS Consumer Survey 2024 – Statistics on homebuyer insights.
3. Industry Cost Estimates – Based on typical repair costs for common defects.