When buying a property, understanding its condition is crucial to making an informed decision. A Level 2 Survey, also known as a RICS Home Survey Level 2 (formerly called a Homebuyer Report), provides valuable insights into a property’s condition before you commit to purchase. This comprehensive guide explains everything you need to know about Level 2 Surveys, helping you decide if it’s the right choice for your property purchase.
What Is a RICS Home Survey Level 2?
A Level 2 Survey is a mid-range property assessment conducted by a qualified RICS (Royal Institution of Chartered Surveyors) professional. It’s designed to identify any obvious major problems or defects that could affect the property’s value. This survey is more detailed than a basic mortgage valuation but less comprehensive than a full Building Survey (Level 3).
The Level 2 Survey uses a clear ‘traffic light’ rating system to highlight the condition of various elements of the property:
- Condition rating 3 (Red) – Defects that are serious and/or need urgent repair, replacement, or investigation
- Condition rating 2 (Amber) – Defects that need repairing or replacing but aren’t considered serious or urgent
- Condition rating 1 (Green) – No repair is currently needed
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Purpose and Benefits of a Level 2 Survey
The primary purpose of a Level 2 Survey is to help homebuyers make an informed decision about their property purchase. It identifies significant issues that could impact the property’s value or require costly repairs in the future.
Key Benefits
- Highlights defects that may affect the property’s value
- Provides professional advice on repairs and maintenance
- Includes a market valuation and insurance rebuild cost (if requested)
- Offers peace of mind before committing to purchase
- May provide leverage for price negotiation if issues are found
Key Components of a Level 2 Survey
A comprehensive Level 2 Survey includes several important components that provide valuable information about the property’s condition.
Visual Inspection
A thorough visual assessment of all accessible parts of the property, including the roof, walls, floors, windows, doors, and permanent outbuildings.
Condition Ratings
Each element of the property is assigned a traffic light rating (1-3) to indicate its condition and any necessary repairs or further investigation.
Professional Advice
Expert recommendations on repairs, maintenance, and further specialist investigations that may be required based on the findings.
Additional components often included in a Level 2 Survey report:
- Property valuation (if requested)
- Reinstatement cost for insurance purposes
- Information about the local area
- Energy efficiency assessment
- Legal issues that require attention from your conveyancer
Level 2 Survey vs. Other Survey Types
Understanding how a Level 2 Survey compares to other survey types will help you choose the most appropriate assessment for your property purchase.
| Feature | Level 1 Survey (Condition Report) | Level 2 Survey (Homebuyer Report) | Level 3 Survey (Building Survey) |
| Depth of inspection | Basic visual inspection | Standard visual inspection | Comprehensive inspection |
| Property suitability | Newer, conventional properties in good condition | Conventional properties in reasonable condition built after 1890 | Older, unusual, or extensively altered properties |
| Reporting format | Traffic light system, basic | Traffic light system, detailed | Comprehensive written report |
| Valuation included | No | Optional | No |
| Advice on repairs | Limited | Yes | Detailed with cost estimates |
| Approximate cost | £500-£500 | £600-£1,500 | £700-£2,500 |
Not sure which survey type is right for your property?
Our expert surveyors can help you determine the most appropriate survey based on your property’s age, condition, and your specific needs.
The Level 2 Survey Process: Step by Step
Understanding the process of obtaining and conducting a Level 2 Survey will help you prepare and know what to expect.
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Request a Quote
Contact a RICS-accredited surveyor or surveying company to get a quote based on your property’s location, size, and value.
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Book the Survey
Once you’ve accepted the quote, schedule a date for the survey. The surveyor will coordinate with the property seller or estate agent to arrange access.
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Property Inspection
The surveyor will visit the property and conduct a thorough visual inspection of all accessible areas, typically taking 2-4 hours depending on the property size.
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Report Preparation
The surveyor compiles their findings into a comprehensive report using the traffic light system to highlight issues by priority.
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Report Delivery
You’ll receive the completed report within 3-5 working days of the inspection, either in digital format, paper format, or both, depending on the service provider.
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Follow-Up Consultation
Many surveyors offer a follow-up call or meeting to discuss the findings and answer any questions you may have about the report.
When Is a Level 2 Survey Recommended?
A Level 2 Survey is particularly suitable in the following scenarios:
Ideal Property Types
- Conventional houses, flats, and bungalows
- Properties built after 1890
- Properties in reasonable condition
- Standard construction methods and materials
- Properties without significant alterations or extensions
Buyer Situations
- First-time buyers seeking peace of mind
- Buyers wanting more detail than a basic mortgage valuation
- Those needing a professional opinion on property condition
- Buyers looking for potential negotiation leverage
- Anyone wanting to avoid unexpected repair costs
Important: If you’re purchasing an older property (pre-1890), a non-standard construction, or a property requiring significant renovation, a more detailed Level 3 Building Survey would be more appropriate.
Real-World Examples of Level 2 Surveys
Understanding how Level 2 Surveys work in practice can help illustrate their value. Here are some real-world examples:
Victorian Terraced House in London
A Level 2 Survey identified issues with the roof requiring £3,000 in repairs. The buyers used this information to negotiate a £4,000 reduction in the asking price, saving money while gaining peace of mind about the property’s condition.
Modern Apartment in Manchester
The survey revealed minor damp issues in the bathroom that weren’t visible during viewings. The buyers arranged for a specialist assessment before proceeding, avoiding potential health issues and costly remediation in the future.
1930s Semi-Detached in Birmingham
A Level 2 Survey identified outdated electrical wiring that posed a safety risk. The buyers factored in the £2,500 rewiring cost when making their offer, ensuring they weren’t surprised by this significant expense after purchase.
Frequently Asked Questions About Level 2 Surveys
How long does a Level 2 Survey take to complete?
The on-site inspection typically takes 2-4 hours, depending on the property’s size and complexity. You can usually expect to receive the completed report within 3-5 working days after the inspection.
What qualifications do surveyors need to conduct a Level 2 Survey?
Surveyors conducting Level 2 Surveys should be accredited by the Royal Institution of Chartered Surveyors (RICS), Chartered Institute of Building (CIOB), or Residential Property Surveyors Association (RPSA). This ensures they have the necessary training, expertise, and professional standards to provide accurate and reliable assessments.
How much does a Level 2 Survey cost?
Prices typically range from £600 to £800, depending on the property’s value, size, location, and the surveying company. While this may seem like a significant expense during the home-buying process, it can save you thousands in unexpected repair costs.
Can I use a Level 2 Survey to negotiate the property price?
Yes, many buyers use the findings from a Level 2 Survey as leverage to negotiate the purchase price. If significant defects are identified, you can request a reduction equivalent to the repair costs or ask the seller to fix the issues before completion.
Is a Level 2 Survey the same as a mortgage valuation?
No, they are different. A mortgage valuation is conducted primarily for the lender’s benefit to ensure the property is worth the loan amount. It’s much less detailed than a Level 2 Survey and doesn’t provide comprehensive information about the property’s condition.
Making an Informed Decision with a Level 2 Survey
A Level 2 Survey provides valuable insights into a property’s condition, helping you make an informed decision about your purchase. By identifying potential issues before completion, you can avoid unexpected costs and negotiate a fair price that reflects the property’s true condition.
Remember that while a Level 2 Survey is suitable for most conventional properties in reasonable condition, older or non-standard properties may require a more comprehensive Level 3 Building Survey. Always consult with a RICS-qualified professional to determine the most appropriate survey for your specific circumstances.
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