Home Maintenance & Building Maintenance Inspections
Do you have a home or building that has not been maintained or up dated for many years?
Do you want or need to know:?
- which maintenance or repairs to do first
- a ball park range for repair or replacement costs
- the present condition of the building systems must be known
- Reasonable life expectancies must be established, and replacement costs must be identified, based upon on-site conditions.
A maintenance inspection report includes a long-term perspective review of the house or building, its equipment, and systems. It provides a time frame recommendation for when repairs and replacement of major systems will be necessary. Included in the study are estimate cost ranges for the replacements done by the home/building owner and/or a contractor.
Commercial or Residential Buildings
In order to prepare the Capital Replacement Study, the following scope of work is typically carried out:
- Review of component warranties, maintenance records and previous repairs and/or maintenance work through discussions with the homeowner.
- Compilation of an itemized list of main building components.
- Visual survey of the main building its systems and equipment components. The survey will establish the estimated needed repairs in the building and on the property the remaining life of the building components as well as on site conditions that may influence the estimated repair or replacement cost.
- Give estimated repair or replacement cost range for each condition, system, and equipment in the building. It will be in the conditions and recommendation section of the report.
- Give 3 estimated remaining life expectancy of equipment .
Although a 20-year time frame is typically used for forecasting, shorter or longer periods can be employed to suit a client’s specific needs. The schedule of component replacements will show a total cost for each year in present value dollars, as well as future value dollars, based on an anticipated inflation rate.
In order to maximize the benefit of a Capital Replacement Study, the study should be updated every three years.
A financial analysis, incorporating the results of the Capital Replacement Study physical analysis, can also be prepared. This would involve preparing a cash flow schedule that depicts the required level of capital savings and the required level of annual contributions necessary to a Capital Reserve Fund, for adequate funding of the necessary replacements.