A First Time Buyer’s Guide to RICS Property Surveys

AMS SURVEYS
4 days ago
3 min read

Buying your first home is exciting, but it can also be overwhelming. One of the most important steps in the process is getting a property survey. This guide will explain everything a first-time buyer needs to know about RICS property surveys, helping you make informed decisions and avoid costly mistakes.

What Is a Property Survey?

A property survey is an inspection of a home’s condition. It covers everything from structural issues to internal systems, comparing the property’s condition with the lease requirements. For first-time buyers, understanding the survey results can help you avoid purchasing a home with hidden issues that could become costly later.

Why Do You Need a Property Survey?

Even if a property looks perfect during a viewing, there may be hidden problems. Surveys are designed to assess the property and identify any potential issues that may require expensive repairs or unforeseen costs, giving you peace of mind before making a purchase.

Types of Property Surveys

As a first-time buyer, it’s important to understand that surveys are not a one-size-fits all solution, there are various types of property surveys available.

1. RICS Level 1 Survey (Condition Report)

This basic survey is suitable for newer properties or homes in good condition. It provides a general overview of the property’s condition, highlighting any major issues like structural defects or safety concerns. While it doesn't go into great detail, it offers a snapshot of the property, helping first-time buyers identify obvious problems. It’s a cost-effective option for buyers looking for a quick assessment, and is ideal for properties that appear to be in good shape with no significant concerns.

2. RICS Level 2 Survey (Homebuyers Report)

The RICS Level 2 survey, or homebuyers report, is ideal for most first-time buyers. It covers a wide range of issues, including the property’s structure, roofing, plumbing, and electrical systems. It offers more detailed information than a Level 1 survey, identifying issues like damp, leaks, or subsidence.

The homebuyers survey can also include a property valuation, ensuring you understand the market value, and an insurance reinstatement value, helping you assess potential rebuilding costs.

3. RICS Level 3 Survey (Building Survey)

The RICS Level 3 survey is the most detailed option, ideal for older homes or properties in poor condition. It provides a thorough inspection of all aspects of the property, including the structure, roof, walls, and foundations.

The survey identifies both visible and hidden issues, such as subsidence or damp, that could affect the property’s long-term value. It’s especially useful for properties that are aged, have been poorly maintained, or are undergoing significant renovations.

How to Choose the Right Survey

Choosing the right survey depends on the condition and age of the property. If the property is relatively new or in good condition, a homebuyers report (RICS Level 2 survey) will usually suffice. For older properties or those with visible issues, a RICS Level 3 survey might be necessary for a more comprehensive assessment.

How AMS Surveys Can Help

At AMS Surveys, our team of experienced RICS surveyors provides all levels of property surveys, from condition reports and homebuyers surveys to comprehensive Level 3 surveys. We help first-time buyers like you make informed decisions, ensuring your investment is safe and sound.