If you are buying a property and someone has mentioned a HomeBuyer Survey, you might be wondering exactly what it is, what it covers, and whether you actually need one. It is one of the most searched questions among buyers, and the answer is more straightforward than you might expect.
Here is the short version before we go into detail.
- A HomeBuyer Survey is a RICS Level 2 inspection of a residential property
- It gives you a clear, honest picture of the condition of the property before you buy
- It is suitable for most standard modern homes in reasonable condition
- It uses a traffic light condition rating system so the findings are easy to understand
- It can be carried out with or without a market valuation
- It is not the same as a mortgage lender’s valuation, which does not protect you
What Is a HomeBuyer Survey?
A HomeBuyer Survey, sometimes referred to as a HomeBuyer Report or a Level 2 survey, is a professional inspection of a residential property carried out by a qualified RICS chartered surveyor. It is the most popular type of survey among buyers in the UK and sits in the middle of the three RICS survey levels.
The purpose of a HomeBuyer Survey is simple. It gives you an independent, professional assessment of the condition of the property you are buying, before you are legally committed to the purchase. It is not carried out to protect your lender. It is carried out to protect you.
If you are not yet sure which survey level is right for your situation, our guide on the different types of house survey explains all three RICS levels clearly and helps you work out which one fits your property.
What Does a HomeBuyer Survey Include?
A HomeBuyer Survey covers all of the main elements of the property that are visible and accessible at the time of inspection. The surveyor will work through the property methodically, inside and out, and assess each element against a clear condition rating.
The three ratings used are straightforward. Condition Rating 1 means no repair is currently needed. Condition Rating 2 means repairs or maintenance are needed but are not urgent. Condition Rating 3 means urgent repairs or further investigation is required, and this is likely to have an impact on the value or your decision to proceed.
In practice the survey covers the roof coverings and any visible roof structure, chimneys, gutters and rainwater goods, external walls and pointing, windows and doors, internal walls, ceilings and floors, the loft space where accessible, signs of damp or moisture throughout, and the general condition of the grounds and permanent outbuildings.
The report will also highlight anything where a specialist inspection is recommended, for example if there are concerns about the electrical installation, drainage or the presence of certain materials.
Our RICS Level 2 HomeBuyer Survey service covers all of the above and is carried out by an experienced chartered surveyor who will talk you through any significant findings.
What a HomeBuyer Survey Does Not Include
It is just as useful to be clear about what falls outside the scope of a HomeBuyer Survey, so you know exactly what you are getting.
The survey does not involve any opening up of the structure or invasive investigation. Everything assessed is based on what is visible and accessible on the day. If there is a concern about something concealed, the report will recommend further investigation by a specialist rather than attempting to expose it during the survey.
Services such as electrics, gas, heating and drainage are not tested as part of a standard HomeBuyer Survey, though the surveyor will note their visible condition and advise if testing is warranted.
A HomeBuyer Survey also does not automatically include a market valuation. However, it can be instructed with a valuation included if you want an independent view on whether the asking price is reasonable. Our Home Survey Fees page sets out the pricing for both options clearly.
Is a HomeBuyer Survey the Same as a Mortgage Valuation?
No, and this is one of the most important distinctions for any buyer to understand.
A mortgage valuation is instructed by your lender and carried out to confirm that the property is suitable security for the loan. It is done to protect the bank, not you. It is often a brief visit, and in some cases is carried out as a desk-based exercise without anyone visiting the property at all.
It will not tell you whether the roof needs replacing, whether there is damp in the ground floor walls, or whether the extension at the back has any structural concerns. It simply confirms a value figure for the lender’s purposes.
A HomeBuyer Survey is entirely separate. It is instructed by you, paid for by you, and carried out entirely in your interest. The two should never be confused, and a mortgage valuation should never be treated as a substitute for an independent survey.
According to the Money and Pensions Service in their guidance on home surveys for buyers, relying on a mortgage valuation alone is one of the most common and costly mistakes buyers make.
Is a HomeBuyer Survey Worth It?
In most cases, yes. The fee for a HomeBuyer Survey is modest relative to the overall cost of buying a property, and the information it provides can be genuinely valuable in a number of ways.
If significant issues are identified, you may be able to renegotiate the purchase price to reflect the cost of necessary repairs. In some cases buyers use the survey findings to request that work is carried out before completion. In others, the findings confirm that the property is in good order and the buyer can proceed with confidence.
The survey is also useful for planning ahead. Even where nothing urgent is flagged, the condition ratings help you understand what maintenance is likely to be needed over the coming years, which is valuable information for any new homeowner.
From our experience working with buyers across the Wirral, Chester and Cheshire, the buyers who later regret their decision rarely wish they had skipped the survey. It is usually the other way around.
HomeBuyer Survey or Building Survey: Which Do You Need?
A HomeBuyer Survey is the right choice for most buyers purchasing a standard modern property that appears to be in reasonable condition. If the property is relatively new, built from conventional materials, and has not been significantly extended or altered, a Level 2 survey will usually give you everything you need.
A Level 3 building survey is a better fit if the property is older, has a more complex construction, shows any signs of movement or damp, or has had significant alterations. The Level 3 goes considerably further in its analysis and is designed specifically for properties where a more detailed inspection is warranted.
Our guide on Level 2 vs Level 3 surveys covers this comparison in full, and is worth reading if you are deciding between the two. And if the property you are buying is older, our article on whether you need a Level 3 survey for an older property specifically addresses that question.
If you are still unsure, just get in touch. We are happy to advise on the right survey for your specific property before you commit to anything.
Get a Quote for a HomeBuyer Survey
We carry out RICS Level 2 HomeBuyer Surveys across the Wirral, Chester, Cheshire West and North Wales. Every survey is carried out by an experienced chartered surveyor, and we aim to turn reports around quickly so your purchase keeps moving.
Get a quote from SMRE Property and we will come back to you promptly with pricing and availability.
Frequently Asked Questions
What is a HomeBuyer Survey?
A HomeBuyer Survey is a RICS Level 2 inspection of a residential property carried out by a qualified chartered surveyor. It assesses the condition of all visible and accessible elements of the building and provides a clear report with condition ratings so you know exactly what you are buying.
Do I need a HomeBuyer Survey if my mortgage lender does a valuation?
Yes. A mortgage valuation is carried out to protect your lender, not you. It does not assess the condition of the property in any meaningful detail. A HomeBuyer Survey is independent and carried out entirely in your interest.
How much does a HomeBuyer Survey cost?
The cost depends on the value and size of the property. At SMRE Property, a Level 2 HomeBuyer Survey without valuation starts from £450 for properties up to £400,000. You can see full pricing on our Home Survey Fees page.
What is the difference between a HomeBuyer Survey and a building survey?
A HomeBuyer Survey is a Level 2 inspection that gives a clear overview of the property’s condition using traffic light ratings. A building survey is a Level 3 inspection that goes much further, providing detailed analysis of the structure, the causes of any defects found, and specific advice on repairs and priorities.
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