RICS HomeBuyer Report Explained: Your Complete Guide

The RICS HomeBuyer Report — officially called the RICS Home Survey Level 2 — is the most popular survey in the UK for a good reason. It gives property buyers a clear, accessible assessment of the condition of a property, presented in a format that's designed to be understood without a degree in building science. Here's everything you need to know.

What is an RICS HomeBuyer Report?

Introduced in 2021 as part of RICS's revamped Home Survey Standard, the Level 2 HomeBuyer Report replaces the old RICS HomeBuyer Survey. It's designed for conventional properties in reasonable condition — typically houses and flats built after 1900 that haven't been significantly altered or extended.

The report uses a clear, colour-coded condition rating system to tell you about the state of each part of the property. It also includes a market valuation and an insurance reinstatement figure.

What Does the Report Cover?

The surveyor will inspect all accessible and visible parts of the property, including:

• Roof (coverings, chimney stacks, gutters)
• External walls and pointing
• Windows and external doors
• All internal rooms, walls, ceilings and floors
• Roof space (where there's a suitable hatch)
• Plumbing, heating and electrical services (visual inspection)
• Drainage and outbuildings
• Damp readings throughout

The Condition Ratings: What Do They Mean?

Each element of the property is rated 1, 2 or 3. This makes it very easy to see at a glance where the problems are and how serious they are.

Does the HomeBuyer Report Include a Valuation?

Yes — the Level 2 HomeBuyer Report includes both a market valuation (an opinion of the open market value of the property) and an insurance reinstatement figure (the cost to rebuild the property from scratch, used by your insurer to set your buildings insurance sum insured).

This distinguishes the Level 2 from the Level 3 Full Building Survey, which does not include a valuation by default.

What the HomeBuyer Report Doesn't Do

It's important to understand the limitations of a Level 2 survey:

• It won't identify defects hidden behind furniture, fitted carpets or ceilings
• It doesn't investigate the cause of defects in depth — it identifies them and recommends further investigation
• It won't include cost estimates for repairs (unlike the Level 3)
• It may not be suitable for older, complex or non-standard properties

If you're buying a Victorian property, an older building, or one in poor condition, we'd recommend a Level 3 Full Building Survey instead.

How to Use the Report

Once you receive your Level 2 report, here's what to do:

1. Read the executive summary first — this highlights the most important findings
2. Review all Condition 3 items carefully — these are the issues requiring urgent attention
3. Call your surveyor — ask questions. We provide a post-survey helpline as standard
4. Consider negotiating on price if significant issues have been found
5. Instruct specialists where further investigation has been recommended

"The HomeBuyer Report isn't meant to be scary. It's meant to be informative. Even a property with several Condition 2 ratings might be perfectly good to buy — you just need to factor the repairs into your budgets and potentially your offer price."— James Hartley, MRICS