Level 1 Home Survey
RICS description: “Previously called a ‘Condition Report’, it describes the condition of the property, identifies any risks and potential legal issues, and highlights any urgent defects. Typically the lowest-priced survey…aimed at conventional properties and newer homes…built from common building materials and in good condition”.
Overview
A Level 1 Home Survey provides information on a property’s condition and its visible defects but no advice on repairs and ongoing maintenance. As such, it is of limited value to most home buyers — especially those with little technical knowledge.
However a Level 1 survey is ideal for those requiring a property ‘condition snapshot’ only, such as:
— Investors evaluating properties for investment purposes
— Professional property managers
— Owners or potential buyers seeking an overview of a property’s condition for purposes such as insurance or maintenance planning
— Owners preparing to sell their property and wanting to identify any significant issues before they market it.
Level 1 Home Survey description (RICS document): DOWNLOAD
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