Level 1 RICS homebuyers survey does not include knotweed
With house prices continuing to rise and mortgage rates still high, first-time buyers might be looking to cut costs where they can. But often choosing the cheapest property survey could turn out to be a costly mistake.
While it might seem like just another box to tick, the type of survey you choose really does matter. There are three levels of RICS home surveys, Level 1, Level 2 and Level 3. A Level 1 is the most basic and cheapest. But a Level 1 survey won’t identify if the property has Japanese knotweed, a fast-spreading invasive weed that could cost thousands to treat after you’ve moved in.
Opting for a Level 1 survey might save you up to £1,200 in the short term, but if knotweed is discovered later, you could be facing treatment costs starting from £1,800 for herbicide treatment. If full excavation is needed to remove it completely, costs typically start around £4,000 and can go much higher depending on the extent of the infestation.
Buyers should also be aware of encroachment, which is when knotweed spreads from your property onto a neighbour’s land. This could result in legal implications such as a private nuisance claim, meaning you could be held responsible for treatment costs or damage caused.
Our recommendation
For anyone considering buying a property, newbuild or older, we recommend having a professional knotweed survey carried out so that if knotweed is found, both sellers and buyers will know what they’re dealing with, and most importantly can factor in costs for treatment or removal. Knotweed should never be ignored, and it takes a highly trained eye to spot it.