The Different Factors That Are Considered While Determining The Cost Of Building Inspection

A building inspection is a process that helps you determine the price if you want to undergo repair work or a sale. Many factors are considered during the time of inspection. The building inspection for residential property is very different from a commercial building. In this article, we will understand the various factors contributing to the overall cost of a building inspection.

Similar elements but different sizes

Every building, be it commercial or residential, has similar elements. However, the main difference comes with the size of the building. One needs to consider all the aspects like the electrical and plumbing systems, HVAC, roof, structural conditions, and so forth. All these elements are present in both residential and commercial properties. The only difference between the two is the overall size of the building.

The time needed to complete the inspection

The inspection time taken for a commercial building will be very different from that of a residential one. A person can never say what kind of challenges or complexities may occur at the time of the inspection. It is why an average estimate is considered based on the initial observations.

The nature of the building

The building inspection services also differ based on the type of structure that is in question. For example, when it comes to residential property, you know that the end-use would be for people to live. However, commercial property is very different. The inspection requirements will differ since there are different types of commercial properties. All aspects and angles have to be considered based on the nature of the building.

The commitment and passion for the job

During a building inspection, commitment and passion also differ based on the type of building being inspected. In the case of a residential complex or building, many emotions come into the picture. On the other hand, commercial buildings are more like business investments, so the attachment levels will not be the same.

The experience and skills of the building inspector

Just like any other job, even in building inspection, the experience and skills matter a lot. It is one of the main factors that determine the cost of inspecting a building. Generally, the price is determined on an hourly basis. However, in some instances, the value is determined based on the building’s square foot instead of an hourly thing.

The methods used for inspection

Different ways are used while inspecting a building. In the case of a residential inspection, things are a lot easy and straightforward. However, in a commercial property, the methods of inspection differ. Generally, a building inspector may be well-versed with all the applicable techniques during the investigation of a building.

The percentage of the sale price

Another factor that determines the cost of a building inspection is based on a particular percentage. This form of practice is prevalent with large-sized commercial buildings like manufacturing centres, shopping centres, and large office buildings. In such cases, the company will bring in a team of building inspectors and experts who come in and do the inspection. The fee in such cases would be based on a fixed percentage from the sale price like 2% or 3%. You have the flexibility to decide the cost of inspecting a building based on the sale price. Generally, this cost fluctuates based on the present market rates.

A flat fee

The flat fee cost is one of the most common practices, followed by consistent or similar projects. This form of costing is generally applicable to similar buildings like condos or studio apartment. As a building inspector, no doubt, the inspection will consist of the bathroom, the HVAC unit, and the electrical panel. However, in some cases, you may also consider the type of space’s interiors. It differs if it is based on the built out or open spaces in small units. If it is a building complex, then factors like the fenestration or the roof may be maintained by the building owners itself. In such cases, the building inspector will only consider the space that belongs to you.

The age and overall condition of the building

Even the age and overall condition of the building are considered while determining the cost of the building. One of the main reasons behind this is because of the difference in structural plans. For example, older buildings may have more rooms in comparison to a new one. Similarly, even appliances and energy consumption will differ accordingly.

A final note on building condition assessment and its cost

A professional will provide you with an estimated cost of inspecting the building with a brief but initial look. From the points mentioned above, many factors are considered while determining the price of a building inspection. Once you get in touch with a building inspector, he/she will come over to have a first look at the building. In some cases, you may also have to provide the building’s blueprints if there is a need.

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Alishahill

Alisha Hill is a freelance writer cum blogger. She has expertise in writing about business, Marketing & Technology. Her article has been published in many national and international publication.