It is challenging to estimate the RICS level 2 survey cost, as the cost can vary depending on several factors like:
- The size of the property.
- The location of the property.
- Client’s specific requirements (if any)
Additionally, the cost of a RICS level 2 survey may vary depending on the provider you choose, as different surveyors may have different rates for their services. Mortgage lenders generally require a RICS 2 survey on a property before a mortgage is granted.
The Importance of a detailed RICS level 2 survey
A RICS level 2 survey, also referred to as a HomeBuyer report, is a detailed assessment of a property’s condition. Potential buyers of property generally use it to identify any problems or defects in the property. It usually guides them in deciding whether or not to purchase the property.
The salient feature of RICS level 2 survey is that it provides a detailed and in-depth assessment of the property’s condition.
With a detailed RICS level 2 survey, property buyer can identify potential problems with the property, such as:
- Dampness.
- Electrical faults.
- Structural issues.
- External aspects of the property such as chimney, roof, walls, windows/doors.
- Internal aspects of the property such as roof space, ceilings, internal walls, floors etc.
This information can use to negotiate the property’s purchase price.
A RICS Level 2 Survey can also uncover important details regarding the property’s energy efficiency and environmental effect.
This can be particularly important for buyers who are looking to reduce their carbon footprint or who are interested in energy-efficient properties.
The benefits of investing in a RICS level 2 survey
There are several advantages to getting a RICS level 2 survey:
- It provides a detailed evaluation of the property’s condition: A RICS level 2 survey thoroughly evaluates the property’s condition. It covers the components of the property that are readily visible and reachable, and it points out any defects within the building and their severity.
- It can help to identify potential issues before they become more serious. Any issues with the property that would need to be repaired, such as structural defects. Level 2 survey can help you plan your budget for any required repairs or renovations and prevent unexpected future charges.
- Giving you a clear overview of the property’s condition and any possible problems that need to be addressed, an RICS Level 2 Survey can provide you with peace of mind. It can increase your trust in your decision to purchase the property.
It can help you to negotiate the purchase price. A RICS Level 2 Survey can also help negotiate the property’s purchase price. If the survey identifies any issues with the property, you can negotiate a lower purchase price to reflect the cost of any necessary repairs or renovations.
Overall, a RICS level 2 survey can be a helpful tool for anyone considering purchasing a property. It can provide valuable information about the property’s condition and help identify any potential issues that need to address.
What are the factors that influence the cost of a RICS level 2 survey?
There are a number of factors that can affect the RICS level 2 survey cost, including:
| Size and location of the property: | The size of the property being surveyed and its location can affect the cost of the survey, as more significant properties and those in more remote or difficult-to-access areas may take longer to survey and require more resources to complete. |
| Type of survey: | The type of survey being conducted can also affect the cost. For example, a building survey (also known as a RICS Level 3 Survey) may be more expensive than a RICS Level 2 Survey because it involves a more detailed inspection of the property. |
| Specific needs of the client: | The specific requirements of the client, such as the need for additional services or reports, can also affect the cost of the survey. |
| Rates of the surveyor: | Different surveyors may have different rates for their services, which can affect the overall cost of the survey. |
| The value of your Property: | This is an important factor to keep in mind because most surveyors base their fees on the value of the property. |
| Additional charges: | Surveys can be helpful but also have limitations. If your surveyor points out any defects that require further investigation then it is recommended that you hire a professional tradesmen to investigate which would cost extra. |
Conclusion
In conclusion, a RICS Level 2 survey is a type of property survey (conducted by qualified RICS surveyors). It designs for properties that are in reasonable condition and relatively modern. The cost of a RICS Level 2 survey can fluctuate for serval reasons. Depending on the property’s size and location, age and condition, and the complexity of the survey.
We recommend discussing your specific needs and requirements with the Smart Home Surveyors . To ensure you get a quote today that accurately reflects the scope of work involved.
Frequently Asked Questions
1. Is a RICS level 2 survey worth the cost?
Yes, It can give you peace of mind and help you make an informed decision about whether or not to continue with the purchase. While it can be a significant expense, it may be worth it if you consider buying a property with any potential issues or defects.
2. Can I get a mortgage without a RICS level 2 survey?
Yes but it is recommended to get a survey as a property purchase is one of the expensive purchase of your life and getting a survey gives you peace of mind.
3. What does a RICS level 2 survey include?
A visual inspection of the property and a written report explaining its condition and any significant defects or problems that need to be addressed.
4. What is the difference between RICS level 2 and RICS level 3 surveys?
RICS level 2 and RICS level 3 surveys are property surveys conducted by qualified RICS (Royal Institution of Chartered Surveyors) surveyors. The main difference between the two is the level of detail and the scope of the inspection. Since RICS level 3 survey is far more detailed and is often bespoke, the cost is usually higher than a RICS level 2 survey.
