In this months edition of the Bailgate Independent Alastair Boulton MRICS discussed the benefits of commissioning the correct type of survey when purchasing a new home. Here is an extract from his article.
- Level 1: Condition Report -Shows the condition of the property, offers guidance to legal advisors and highlights any urgent defects. Typically the lowest priced of the surveys, it is aimed at conventional properties and newer homes.
- Level 2 Homebuyer Report - Includes all the features of the RICS Condition Report, plus a market valuation and insurance rebuild costs. It also includes advice on defects that may affect the value of the property with repairs, and ongoing maintenance advice.
- Level 3 Full Building survey - Essential for larger or older properties, or if you’re planning major works. The most comprehensive report provides you with an in-depth analysis of the property's condition and includes advice on defects, repairs and maintenance options.