When buying a property in the UK, it is important to have the property surveyed. While mortgage applications and legal paperwork take up a large portion of time for first-time buyers, a property survey is vital in helping you understand the condition of the property before purchasing it.
A professional survey doesn’t just highlight issues; it helps buyers negotiate fairly with sellers and empowers buyers to make a more informed, confident decision.
In this article, we break down what property surveys involve, the different types available, and how to choose the right one for your property.
Why First-Time Buyers Should Consider a Property Survey
A property survey is a detailed inspection carried out by a qualified surveyor to assess the condition of a home. It helps identify defects, structural problems, maintenance issues, and any risks that could affect your safety and your finances. A RICS (Royal Institution of Chartered Surveyors) qualified surveyor will inspect the property and provide a detailed written report.
It is important to know as much as possible about the property before you purchase it. Without a professional assessment, you may unknowingly purchase a property that has major structural issues that require thousands of pounds to repair.
A property survey can help you avoid overpaying, especially if significant defects are identified. Knowing what you are buying helps you reduce the risk of investment and assess whether the property is worth the purchase price.
Moreover, some mortgage lenders require a survey or valuation to proceed with financing, making this an essential step for many first-time buyers.
Even if the property survey reveals hidden issues, this can alert you to the specific problems, enabling you to plan maintenance around these faults.
The Three Main Types of RICS Property Surveys
Depending on the type of property, different surveys will be required. RICS provides a tiered approach to residential surveys, offering varying levels of detail depending on the property’s age, condition, and size.
Level 1 – RICS Condition Report
This type of survey provides a general overview of the property’s condition, identifies any risks and potential legal issues, and highlights urgent defects. The Level 1 Survey offers a quick condition check, basic damp and structural checks, and is summarised with a traffic light rating.
As the most basic survey available, this survey does not include advice or cost estimates for repairs, nor does it provide a valuation.
These are also not suitable surveys for older or modified homes.
A Level 1 Survey is more suitable for modern or new-build properties to confirm basic structural soundness.
The RICS Level 2 Survey provides a detailed but non-intrusive inspection of a home’s condition. This survey provides a visual inspection of the property’s interior and exterior elements, an assessment of its plumbing, electrics, and heating systems, and identifies any significant issues.
Additionally, this survey provides guidance on necessary repairs and ongoing maintenance needs, offering clear and easy-to-follow recommendations. It must be noted that this survey does not include an in-depth structural assessment.
The RICS Level 2 Survey is typically used for conventionally built properties in reasonable condition. Cost-effective and comprehensive enough, this survey offers excellent value to first-time buyers and is accepted by most lenders.
A RICS Level 3 Survey is the most comprehensive property survey. It provides a detailed analysis of the building’s structure, assesses the visible and hidden defects, and identifies potential legal issues (e.g. potential boundary concerns). Furthermore, the estimated costs for repairs and maintenance are also detailed, along with recommendations for future work and upkeep.
This survey is perfect for properties that are older, in poor condition, or have unique modifications.
Choosing the Right Survey Based on Property Type
It is important to determine which survey type is most suitable for the type of property you are considering.
New Builds
Level 1 Surveys are ideal for new builds. New builds are constructed to modern standards and are covered by warranties, such as those from NHBC, meaning they are unlikely to have major defects. A basic condition report can provide peace of mind for first-time buyers, though.
A snagging survey can be requested, and this can check for unfinished work or minor defects, such as poorly installed fittings or cosmetic damage.
Older Properties (Pre-1980s)
Older buildings are more likely to have outdated wiring, structural wear, or alterations that can pose risks.
If the property appears well-maintained, a Level 2 Survey would be ideal. This would identify any ongoing maintenance issues and provide actionable recommendations to address these problems.
If the property is visibly aged, has been extended, or lacks documentation, a Level 3 Survey would be best suited. This would provide in-depth detail on any structural defects or hidden issues and provide an estimate of the repair costs required.
Flats and Apartments
For flats and apartments, a Level 2 Survey is typically the most suitable option.
However, there are several important considerations specific to this type of property. It’s essential to review the condition of common areas such as the roof, hallways, and lifts, as these shared spaces can significantly impact your living experience and potential repair costs.
You should also understand who is responsible for maintaining these areas and what service charges apply. Additionally, be aware of potential issues like cladding, fire safety compliance, and leasehold complexities, particularly in high-rise or converted buildings.
Renovation Projects
For renovation projects, a Level 3 Building Survey is essential. It provides a thorough assessment of the property’s structure and highlights any issues that could affect the property, helping you avoid costly repairs and ensuring the renovation is both safe and feasible.
The Best Survey for First-Time Buyers
In most cases, the Level 2 HomeBuyer Survey offers the best balance of value, coverage, and peace of mind. It’s a cost-effective option that provides enough detail to identify common issues in standard homes.
However, a Level 3 Building Survey is strongly recommended if you’re planning a renovation, buying a listed or period property, or considering a home that has been converted for residential use, as these situations often require a more in-depth structural assessment.
The Importance of Property Surveys for First-Time Buyers
Trust in ASL - Chartered Surveyors & Valuers
For first-time buyers, a RICS property survey is a smart and proactive way to safeguard your investment. A RICS-accredited thorough study provides a clear picture of a property’s true condition and value, helping you avoid overpaying or facing unexpected repair costs. It’s one of the most effective ways to protect your finances and give you the confidence to make a well-informed decision during the buying process.
Contact ASL for a RICS-accredited property survey today. A survey details a building’s condition, helping buyers make informed decisions regarding purchase, maintenance, and investment.
Here at ASL we are a team of RICS Chartered Surveyors and Valuers, and are always available to guide you through the commercial property transaction process and recommend the best survey for you.
