Buying a home is an exciting journey, but it's also one filled with important decisions and considerations. Understanding the condition of the property you're interested in is crucial, which is why RICS (Royal Institution of Chartered Surveyors) Home Surveys play a vital role in the purchasing process.
RICS offers different levels of surveys to suit varying needs and property types, with Level Two and Level Three being among the most popular. Let's delve deeper into these two types of surveys and explore their differences.
1. RICS Home Survey Level Two (RHS2)
The RICS Home Survey Level Two, also known as the RICS HomeBuyer Report, is designed to provide a concise overview of the property's condition. It is suitable for conventional properties that are in reasonable condition. Here's what you can expect from an RHS2:
- Visual Inspection: A surveyor conducts a non-intrusive visual inspection of the property, examining both the interior and exterior.
- Condition Ratings: The surveyor assigns condition ratings to different elements of the property, indicating the urgency of repairs or further investigation.
- Summary of Findings: The report includes a summary of key findings, highlighting any defects, potential risks, and issues that may affect the property's value or safety.
- Valuation: An estimated market value and rebuild cost are provided, offering insights into the property's financial aspects. If you do not require a valuation, you can opt for the cheaper RHS2 (survey only) option.
- Advice: The surveyor offers recommendations for necessary repairs, maintenance, and further investigations, helping buyers make informed decisions.
The RICS Home Survey Level Two is ideal for relatively new or well-maintained properties and provides buyers with essential information to proceed confidently with their purchase.
2. RICS Home Survey Level Three (RHS3)
The RICS Home Survey Level Three, also known as the RICS Building Survey, offers a more detailed and comprehensive assessment of the property. It is suitable for older, larger, or non-traditional properties. Here are the key features of an RHS3:
- In-depth Assessment: The RHS3 involves a thorough inspection of all accessible parts of the property, including hidden areas such as underfloor spaces and within roof voids.
- Detailed Report: The survey report provides a comprehensive analysis of the property's condition, including its structural integrity, defects, and potential problems.
- Remedial Works Advice: The surveyor offers detailed advice on necessary repairs, maintenance, and potential future issues, providing buyers with a clear understanding of the property's condition and potential risks.
- No Valuation (but optional): Unlike the RHS2, the RHS3 does not include a valuation of the property. Instead, it focuses solely on assessing the property's condition and structural integrity. However, we do offer a valuation as an optional extra service.
The RICS Home Survey Level Three is particularly beneficial for older properties, listed buildings, or properties with complex structural features, offering buyers peace of mind and a deeper understanding of the property's condition.
In summary, both the RICS Home Survey Level Two and Level Three serve essential roles in the property purchasing process. The RHS2 provides a concise overview suitable for conventional properties in reasonable condition, while the RHS3 offers a more detailed assessment ideal for older or non-traditional properties. Choosing the right survey depends on factors such as the property's age, size, and complexity, as well as the buyer's budget and preferences. Consulting with a qualified RICS surveyor can help buyers make an informed decision and navigate the home buying process with confidence.
To learn more about RICS Home Surveys and how they can benefit you, contact us for expert guidance and assistance tailored to your needs.
