Choosing the Level of survey
Choosing the right RICS Home Survey depends on the type and condition of the property. At Jay
Surveying Limited, we offer all three levels to suit your individual needs, ensuring you have the information you need to make a confident and informed decision.
Level 1
An RICS Level 1 Survey, previously known as a Condition Report, is a basic survey designed to provide an overview of a property’s condition. It is most suitable for modern properties in good state of repair and highlights any urgent issues that may need attention. This survey uses a simple traffic light system to rate different elements of the property, making it easy to understand. While it does not include detailed analysis or advice on repairs, it provides a clear summary of the building’s overall state, helping you make an informed decision before purchasing. For more details, please see our RICS Level 1 guide here.
Level 2
An RICS Level 2 Survey, previously known as a Homebuyer Report, provides a more detailed
assessment of a property’s condition than a Level 1 survey. It is ideal for conventional homes in
reasonable state of repair and highlights any visible indications of defects or potential issues that could require attention or maintenance. This survey includes a traffic light rating system for key elements of the property, helping you understand their condition at a glance. While it does not include an in-depth structural investigation, it provides expert advice on identified issues and potential risks. For more details, please see our RICS Level 2 guide here.
Level 3
An RICS Level 3 Survey, previously known as a Building Survey, is the most comprehensive type of
residential survey we provide. It is ideal for older, larger, or non-standard properties, as well as homes in poor condition or those that have had major renovations/alterations. This more in-depth inspection provides a detailed visual analysis of the property’s structure and condition, identifying defects, potential risks, and necessary repairs. Unlike Level 1 and Level 2 surveys, a Level 3 survey includes expert advice on maintenance, potential costs, and the urgency of repairs. For more details, please see our RICS Level 3 guide here.
Valuation
A valuation can help you decide if you are paying a fair price for the property. In some circumstances, previous clients have used our valuations to re-negotiate the initial agreed price.
We give an opinion on both the market value of the property and the reinstatement cost at the time of the inspection (see below). Market value is defined by RICS as the estimated amount for which an asset or liability should exchange on the valuation date between a willing buyer and a willing seller in an arm’s length transaction, after proper marketing where in the parties had each acted knowledgeably, prudently and without compulsion. Don’t worry if this seems complex, market value is the normal valuation figure obtained using RICS’s approach.
Reinstatement cost is the cost of rebuilding an average home of the type and style inspected to its existing standard, using modern materials and techniques, and by acting in line with current Building Regulations and other legal requirements. This includes the cost of rebuilding any garage, boundary or retaining walls and permanent outbuildings, and clearing the site. It also includes professional fees, but does not include VAT (except on fees). The reinstatement cost helps you decide on the amount of buildings insurance cover you will need for the property.
While a valuation involves an inspection of the property, it is important to note that this is significantly less detailed than a Level 1, 2 or 3 RICS Home Survey, and makes more assumptions. As such, it will not reveal all of the defects, maintenance issues and necessary repairs that would help you make a fully informed decision about whether to proceed with your purchase. To be in the best position, combining a RICS Home Survey with a valuation offers the most peace of mind AND value for money.
For more details, please see our RICS Level 2 guide that contains information regarding valuations here.
