When you're buying a property, your mortgage lender will commission a valuation — but a valuation is not a survey, and it tells you almost nothing about the condition of the building. The Homebuyer's Report (officially the RICS Level 2 survey) is the most widely used independent survey in the UK, and for the right property, it gives you exactly the information you need before committing to one of the largest purchases of your life.
This guide explains precisely what a HomeBuyer Report covers, what it doesn't, when it's the right choice (and when it isn't), what the results mean, and how to use it practically.
The Three Levels of RICS Survey: A Clear Comparison
The Royal Institution of Chartered Surveyors (RICS) defines three levels of survey, and choosing the right one matters enormously:
| Feature | Level 1 — Condition Report | Level 2 — HomeBuyer Report | Level 3 — Building Survey |
|---|---|---|---|
| Official name | RICS Condition Report | RICS HomeBuyer Report | RICS Building Survey |
| Depth of inspection | Visual, limited | Visual, systematic | Visual + more detailed access where possible |
| Condition ratings | Yes (traffic lights) | Yes (traffic lights) | Yes, with narrative |
| Market valuation | No | Optional (add-on) | No |
| Insurance reinstatement figure | No | Optional (with valuation) | No |
| Advice on repairs | Minimal | Included | Detailed |
| Typical cost | £300–£450 | £400–£900 | £600–£1,500 |
| Best for | New builds / post-2000 standard construction in good condition | Standard construction post-1930, no visible major concerns | Pre-1900, unusual construction, visible defects, any property where major works are planned |
For most buyers of a reasonably modern, conventionally built property with no obvious issues, a Level 2 is the sweet spot: more thorough than a Condition Report, more affordable than a full Building Survey.
What the RICS Traffic Light System Means
The HomeBuyer Report uses a three-colour condition rating system across all inspected elements of the property:
Condition Rating 1 — Green
No repair is currently needed. The element is performing as expected. This does not mean it is new or in perfect condition — only that it is functioning within normal parameters and no action is required beyond routine maintenance.
Condition Rating 2 — Amber
Defects present that need attention, but not immediately urgent or critical. These should be monitored and repaired within a reasonable timeframe to prevent deterioration. A Condition Rating 2 is not "fine" — it is "needs dealing with at some point."
Condition Rating 3 — Red
Serious defects requiring urgent attention. These may be structurally significant, create safety hazards, or if left unattended, lead to much more serious (and expensive) damage. A Condition Rating 3 finding should be taken seriously and costed before exchange.
NI (Not Inspected) is used where the surveyor could not access or inspect an element. It does not mean the element is defect-free — it means it couldn't be assessed.
What a HomeBuyer Report Covers
A Level 2 survey covers the following elements, visually inspected where accessible:
- Roof covering (tiles, slates, flat felt)
- Chimneys and flues (external condition; not internally inspected)
- Rainwater goods (gutters, downpipes)
- Main walls (external and internal)
- Windows and external doors
- Internal floors and ceilings
- Internal walls and partitions
- Fireplaces and flues (external condition only)
- Built-in fittings
- Roof structure (if accessible via a hatch)
- Cellars and vaults (if accessible and safe)
- Services (a visual inspection only — not a test; not a replacement for an EICR or gas safety check)
- Grounds immediately around the property
The report also covers legal and environmental risks flagged by the surveyor, including Japanese knotweed, flood risk, and subsidence indicators.
What a HomeBuyer Report Does NOT Cover
This is as important as what it does cover:
- Roof voids — if there is no loft hatch, or if access is unsafe, the roof structure is not inspected
- Behind walls, under floors, or above ceilings — no opening up of the structure
- Behind fitted furniture — kitchen units, built-in wardrobes, bathroom furniture
- Inside flues and chimneys — external condition only
- Drains — a CCTV drain survey is a separate, specialist inspection
- Electrical testing — the surveyor inspects visible wiring but cannot test it; an EICR (Electrical Installation Condition Report) requires a qualified electrician
- Gas testing — the surveyor notes the presence of appliances but cannot test them; a Gas Safety Certificate requires a Gas Safe engineer
- Asbestos testing — the surveyor may flag suspected ACMs (asbestos-containing materials) but cannot test; testing requires a specialist
- Japanese knotweed underground extent — can flag above-ground presence but not underground rhizome extent
If any of these are a concern for your specific property, commission the relevant specialist survey in addition to the Level 2.
When a HomeBuyer Report Is Appropriate
A RICS Level 2 HomeBuyer Report is appropriate when:
- The property was built after approximately 1930 (standard materials and construction methods)
- It is of standard construction — brick or masonry cavity walls, tiled or slated pitched roof, no significant unconventional elements
- There are no visible signs of major structural issues — no significant cracks, no obvious damp, no visible movement
- You are not planning major structural work — if you're buying to extend substantially, a Level 3 helps identify what you're working with
When to Upgrade to a Level 3 Building Survey
A RICS Level 3 Building Survey is worth the additional cost when:
- The property is pre-1900 — likely solid wall (not cavity), lime mortar, original timbers, higher risk of concealed issues
- Unusual construction — timber frame, prefabricated concrete, steel frame, thatched roof, converted commercial building
- There are visible concerns — cracks, damp staining, sagging roofline, evidence of movement or subsidence
- You are planning significant work — extension, structural alteration, loft conversion; the survey baseline helps scope the project
- The property is listed — a heritage professional (Chartered Building Surveyor with conservation accreditation) is appropriate here
- Lender has flagged the property — if the mortgage lender's valuation has noted concerns, upgrade to a Level 3
Read more about when a full structural survey is warranted in our guide to structural surveys in the UK.
How Much Does a HomeBuyer Report Cost?
Level 2 survey fees vary based on property value, property size, and the surveyor's location:
| Property Value | Typical Level 2 Cost |
|---|---|
| Up to £200,000 | £400–£550 |
| £200,000–£400,000 | £500–£700 |
| £400,000–£600,000 | £600–£800 |
| £600,000+ | £750–£1,000+ |
London and the South East typically sit at the higher end. Rural areas and the North of England tend to be cheaper. Adding a market valuation and insurance reinstatement figure (the add-on service) adds approximately £50–£150 to the fee.
Never choose your surveyor on price alone. An experienced RICS-regulated surveyor who knows the local area and building type is worth more than a marginally cheaper alternative.
How Long Does It Take?
- Booking to inspection: Typically 3–7 working days for a standard property (longer in busy markets or for complex properties)
- Inspection to report delivery: Usually 2–5 working days
- Total from instruction to report: Typically 1–2 weeks
Factor this into your purchase timeline. Many buyers instruct the survey as soon as the mortgage application is submitted (the two can run in parallel).
Using the Report to Renegotiate
A HomeBuyer Report is not just a risk document — it is a negotiating tool. If the survey reveals significant Condition Rating 3 findings (or substantial Condition Rating 2 issues), you have three options:
- Renegotiate the price — get estimates for the repair work and submit a revised offer supported by the survey findings. Most vendors will negotiate rather than risk losing the sale and going back to market.
- Request that the vendor carries out the remedial work before completion — less common but reasonable on a simple, specific defect.
- Proceed and manage the risk — if the defects are cosmetic or well-understood, proceed with eyes open and a funded plan to address them.
When approaching the vendor, keep the conversation factual and unemotional. Share the relevant extract from the survey, provide a quote from a specialist, and make a specific revised offer. "The survey found X and the estimate to repair is Y — we'd like to revise our offer to Z" is a straightforward, defensible position.
What to Do If the Surveyor Finds Something Serious
If the report contains a Condition Rating 3 finding — particularly structural movement, active damp penetration, or evidence of subsidence — do not proceed until you have:
- A specialist inspection — commission a structural engineer, damp specialist, or drainage surveyor depending on the nature of the defect
- A repair estimate — from a relevant qualified contractor
- Clarity on cause — is the movement active or historic? Is the damp rising or penetrating? This affects cost and risk significantly
If the seller is unwilling to reduce the price or allow specialist access before exchange, that is a meaningful data point. A vendor who refuses to allow a structural engineer access to an area of concern is telling you something important.
How to Find a RICS-Regulated Surveyor
Use the RICS official 'Find a Surveyor' tool at rics.org/surveyor-locator. Filter by residential surveying and your property's postcode. All results are regulated professionals who carry RICS indemnity insurance and are bound by the RICS standards.
Ask before you book:
- Have they surveyed properties of this type and age before?
- Are they familiar with the area?
- What is included in the fee — does it include a valuation?
- What is their typical turnaround from inspection to report?
A local surveyor who knows the area's typical defects — coal mining subsidence, clay shrinkage, local flood risk patterns — will write a more useful report than one who has never worked in the area.
For a comparison of all survey levels and costs, see our complete guide to home survey costs in the UK. For a detailed section-by-section walkthrough of exactly what each part of the report means — including how to decode the CR1/CR2/CR3 rating system and what to do when a Condition Rating 3 is flagged — see our complete guide to reading a RICS Level 2 HomeBuyer Report.