Understanding Property Surveys: A Guide Based on RICS Standards
When buying a home or investing in property, a key step in the process is commissioning a property survey. It’s one of those behind-the-scenes tasks that can make or break a purchase—yet it’s often misunderstood or overlooked. To help demystify this essential step, let’s take a closer look at what property surveys are, the types available, and why following RICS (Royal Institution of Chartered Surveyors) guidance matters.
What Is a Property Survey?
A property survey is a detailed inspection of a property’s condition. It’s carried out by a qualified surveyor who assesses everything from the structure of the building to any potential defects, repairs, or maintenance issues. The goal is to give buyers a clear understanding of what they’re purchasing—and help avoid unexpected (and often costly) surprises down the line.
Why Use a RICS Surveyor?
RICS is the leading professional body for qualifications and standards in land, property, infrastructure, and construction. When you hire a RICS-accredited surveyor, you can trust that they adhere to globally recognized standards, have undergone rigorous training, and operate with integrity and professionalism.
Using a RICS surveyor ensures:
- Expertise: RICS surveyors are trained to assess a property’s condition with precision.
- Clarity: Their reports are easy to understand and structured for practical decision-making.
- Peace of mind: RICS provides redress schemes, offering consumers protection and a complaints process if needed.
The Different Types of RICS Property Surveys
RICS offers three main levels of surveys tailored to different needs and property types:
1. Level 1 – RICS Condition Report
This is the most basic survey. It’s best suited for newer homes or conventional properties in good condition. It outlines the property’s condition, highlights significant issues, and provides a summary of risks—but it doesn’t offer advice or a valuation.
Ideal for: Recently built or well-maintained homes.
Use the link here to see the scope of a level one inspection directly from RICS.
2. Level 2 – RICS Home Survey (Standard)
Previously known as the “HomeBuyer Report,” this mid-level survey is the most popular choice. It includes everything in a Level 1 survey, plus:
- A more thorough inspection
- Advice on repairs and maintenance
- A market valuation (if requested)
- An insurance rebuild cost estimate
Ideal for: Standard properties that appear to be in reasonable condition.
Use the link here to see the scope of a level one inspection directly from RICS.
3. Level 3 – RICS Building Survey
This is the most comprehensive option and includes an in-depth analysis of a property’s structure and condition. It identifies defects, their causes, potential consequences, and recommendations for repairs. It doesn’t include a valuation, but one can be added on request.
Ideal for: Older buildings, unusual structures, or properties needing renovation.
Use the link here to see the scope of a level one inspection directly from RICS.
When Should You Get a Survey?
Property surveys should be arranged once your offer has been accepted, but before you exchange contracts. This allows you to renegotiate or withdraw from the deal based on the survey findings, if necessary.
Remember: a mortgage valuation (often confused with a survey) is not the same thing. It’s for the lender’s benefit—not yours—and won’t reveal hidden defects.
Final Thoughts
Whether you’re a first-time buyer or a seasoned property investor, understanding the condition of a building is crucial. RICS-accredited surveys give you the information you need to make informed decisions, avoid risks, and protect your investment.
Thinking about buying? Don’t skip the survey. It’s a small cost now that can save you thousands in the future.
Looking for a qualified surveyor? You can search the RICS directory at www.ricsfirms.com to find a professional in your area or get in touch and we can point you in the right direction to our preferred partners.
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