The short answer
A RICS Level 2 HomeBuyer Report typically costs a few hundred pounds for a conventional house or flat, sitting between the cheaper Level 1 Condition Report and the more detailed Level 3 Building Survey. The exact fee is set by the surveyor based on the property's size, value, age and location, and whether you choose the survey-only version or the version that also includes a market valuation and insurance reinstatement figure. The Level 2 report uses the RICS traffic-light ratings (1 green, 2 amber, 3 red) and adds advice on defects, making it the most popular choice for standard properties in reasonable condition.
The HomeBuyer Report is the survey most buyers of conventional homes end up choosing. Here is what it costs, what separates the two versions, and when it is the right level versus stepping up to a full Building Survey.
Level 2 HomeBuyer — at a glance
- Typical costA few hundred pounds
- PositionMid-range of three levels
- RatingsTraffic-light 1, 2, 3
- Two versionsSurvey-only or with valuation
- Suited toStandard homes in reasonable order
What the Level 2 HomeBuyer Report covers
The RICS Level 2 HomeBuyer Report is a mid-level survey for conventional properties in reasonable condition. It is a visual inspection of the parts of the building the surveyor can readily see and reach, and it reports findings using the RICS traffic-light system:
- Condition rating 1 (green): no repair currently needed.
- Condition rating 2 (amber): defects that need attention but are not serious or urgent.
- Condition rating 3 (red): defects that are serious or need repair, replacement or further investigation urgently.
Beyond the ratings, the report gives advice on the defects found, comments on damp, the roof, services and the general state of the property, and highlights issues for your legal adviser. It does not, however, include the detailed cause-and-repair analysis of a Level 3 survey, and the surveyor will not lift floorboards, move heavy furniture or open up the structure.
Survey-only versus survey-with-valuation
There are two versions of the HomeBuyer Report, and the choice affects the fee. Understanding the difference matters because the valuation here is for you, not the same as the lender's mortgage valuation.
| Version | What you get | Cost effect |
|---|---|---|
| Survey only | Condition ratings and defect advice | Lower of the two |
| Survey plus valuation | The above plus a market value figure | Higher — valuation adds cost |
| Reinstatement figure | Cost to rebuild for insurance | Usually with the valuation version |
Indicative comparison for guidance only. The buyer's valuation is separate from the lender's mortgage valuation. Source: RICS Home Survey Standard.
What affects the HomeBuyer fee
Within the Level 2 band, the fee is shaped by the same factors that drive all survey pricing:
- Property size: a larger home with more rooms takes longer to inspect.
- Property value: some surveyors scale the fee with price, reflecting their professional liability.
- Location: fees are typically higher in London and the South East.
- Age and type: the HomeBuyer Report suits conventional properties; a very old or non-standard building may need a Level 3 survey instead, which costs more.
- Valuation: adding the market value and reinstatement figure increases the fee versus survey-only.
Because the HomeBuyer Report is aimed at properties in reasonable condition, the most important judgement is whether your property genuinely fits that description. If it is old, heavily altered or you already suspect problems, the cheaper Level 2 fee may leave you with amber ratings telling you to investigate further — at which point a Level 3 survey would have answered the question first time.
When to choose Level 2 over Level 1 or Level 3
The HomeBuyer Report sits deliberately in the middle, and choosing it well means weighing it against the levels either side. A Level 1 Condition Report is cheaper but offers ratings with little advice, suiting newer, conventional homes in good order where you mainly want reassurance. A Level 3 Building Survey costs more but goes far deeper, describing the cause of defects and the repairs needed, which is what older, larger or unusual properties demand.
The Level 2 HomeBuyer is the sensible default for a typical house or flat — say a post-war or modern home in reasonable order — because it gives you defect advice and condition ratings without the cost of a full structural survey you may not need. Step up to Level 3 if the property is period, has had significant alterations or extensions, is built in a non-standard way, or if anything you have seen makes you want a fuller picture. The extra fee for Level 3 buys detail that can be decisive on a complex building, whereas on a straightforward modern home it may simply confirm what the HomeBuyer Report would already have told you.
Frequently asked questions
Is the HomeBuyer Report valuation the same as the mortgage valuation?
No. The valuation in a HomeBuyer Report is provided for you, giving a market value and often a rebuild cost for insurance. The lender's mortgage valuation is a separate inspection carried out for the lender to confirm the property is adequate security for the loan.
Should I get the survey-only or survey-with-valuation version?
If your lender is already doing a mortgage valuation and you simply want an independent value for your own decision, the survey-with-valuation version adds that figure. If you only want the condition assessment, the survey-only version is cheaper. Either way you still get the traffic-light ratings and defect advice.
When should I upgrade from Level 2 to Level 3?
Upgrade if the property is older, larger, built in a non-standard way, has had significant alterations, or if you already suspect problems. A Level 3 Building Survey describes the cause of defects and the repairs needed, whereas a Level 2 report may only flag amber items and tell you to investigate further.
Sources & further reading
- RICS — Home surveys for buyers
- HomeOwners Alliance — Which survey is right for you?
- Which? — Property surveys explained
Figures on this page are typical UK ranges drawn from published sources and depend on the specific property and survey level. They are guidance, not a quotation.