08 Oct House Survey for Buyers: Are They Necessary and How Do You Interpret Them?

When buying a property, understanding its condition before committing to the purchase is important. A house survey for buyers can highlight potential defects, repairs and maintenance issues, but the right level of survey depends on the property itself.

Most buyers will have a mortgage valuation, which provides an opinion of the property’s value for the lender, along with a cursory assessment looking for obvious defects. If the house is modern, built within the last 30 years and in good condition, this may be sufficient and a more expensive full survey may not be necessary.

However, if you want a more detailed inspection, there are several RICS Home Survey options.

RICS Home Survey Level 1

Level 1 is the basic and least expensive option. It provides an overview of the property, identifies obvious defects and highlights anything requiring urgent attention.

It does not normally provide advice on repairs or maintenance and does not include a valuation. It is generally suited to conventional, modern properties in satisfactory condition.

RICS Home Survey Level 2

Level 2 was formerly commonly known as a Homebuyers Report. It involves a more extensive visual inspection, including areas such as the roof space and drainage chambers where accessible.

It provides information about defects, repairs and ongoing maintenance. There are two versions:

Level 2, Survey Only: Provides the survey and report without a valuation.

Level 2, Survey and Valuation: Also provides an opinion on the property’s market value and an insurance reinstatement figure.

For a typical house purchase, Level 2 is often the sensible middle ground.

RICS Home Survey Level 3

Level 3 is the most thorough RICS Home Survey and was formerly known as a Building Survey. It is particularly appropriate for an older property, a large property that has been substantially altered or extended, a property in poor condition or where you are considering major works.

It goes considerably further into the construction of the building, defects, potential problems, repair options and the likely consequences of not undertaking repairs.

Despite sometimes being called a Full Structural Survey, a Level 3 remains primarily a visual inspection. It is not automatically a structural engineer’s investigation and cannot guarantee that hidden defects do not exist.

If you are considering buying an older property, a more detailed survey may therefore be worth considering.

When Is a Structural Survey Needed?

A structural survey is normally undertaken after an RICS Level 3 survey identifies issues such as settlement or major cracks to the main walls that require further investigation.

A house survey and a structural investigation are not the same thing. If significant structural concerns are identified, further specialist advice may be recommended to establish the cause and extent of the problem.

Which House Survey Should Buyers Choose?

The appropriate house survey for buyers depends on the property’s age, condition, size and construction.

If you are considering a high-priced property, particularly an older or substantially extended house, you would generally lean towards Level 3 rather than Level 2. The additional cost can be relatively small compared with the potential cost of discovering a major defect after completion.

For a modern, conventional property in good condition, Level 1 or Level 2 may be more appropriate. If the property is unusual, has been substantially altered or requires major work, Level 3 provides a more detailed assessment.

As estate agents in Cardiff, Kelvin Francis has experience dealing with properties of different ages, types and conditions across the local market.

How Should You Interpret a House Survey?

A survey report can sometimes be concerning, particularly when it contains a long list of defects. However, it is important to be pragmatic when interpreting the findings.

A more detailed Level 2 or Level 3 survey may identify minor defects on a modern or well-maintained property that would normally be overlooked. These can be similar to small blemishes on a second-hand car: worth being aware of, but not necessarily a reason to abandon the purchase.

Consider the age, condition and type of property alongside the survey findings. Some issues may require immediate attention, while others may simply form part of normal property maintenance.

Where a potentially serious problem is identified, further specialist advice may be appropriate. At the same time, buyers should avoid allowing relatively minor issues to unnecessarily jeopardise a purchase.

Making an Informed Decision When Buying a Property

A survey is an additional cost when buying a property, but it can provide valuable information about what you are purchasing and highlight issues that may need further investigation.

The buying process can involve valuations, mortgages, solicitors and surveys, so having experienced professionals involved can help you understand each stage.

Kelvin Francis is an independent Cardiff estate agency with extensive experience helping buyers and sellers across the local property market. If you are considering a purchase, you can contact the team for further information about the buying process.

If you are also thinking about selling, Kelvin Francis can provide a property valuation with no obligation or charge.