Whenever you’re getting repairs done, one of the first questions is inevitably “how much will it cost?”
Let’s face it — price matters.
When you’re looking at buying or selling a home, it’s important to account for needed maintenance or repairs and find out exactly what they’ll cost. In this blog we’ll go over why this information is so important, and the best ways to get it! Considering the purchase or sale of a home? Read on to learn more about this pivotal topic.
Why Get Pricing?
There are a number of reasons why pricing repairs and maintenance is important. As a buyer, once you finish a home inspection, the defects and maintenance items discovered can give leverage to a negotiation. You’ll need to know how much they cost in order to ask for an appropriate credit, or assess the value of the repair given the “big picture.”
For those considering selling their home, getting prices on needed maintenance repairs lets you plan for which are the most important to address either during or prior to sale. Having these details also helps if a potential buyer requests certain things during negotiations.
Of course, pricing also allows for budgeting and prioritizing which items can or should be done first.
Get “Hard” Quotes
Hard quotes mean actual, real-world estimates from local contractors or repair professionals. These are invaluable since the price will be in writing and based on a professional’s assessment of the actual work that needs to be done. When negotiating or budgeting for maintenance and repair items, having these figures means you won’t be caught surprised later by prices you didn’t expect. Hard quotes also give you verified prices to refer to during negotiations.
Let us Help
Getting quotes means you and your agent will need to contact electricians, plumbers and other contractors to visit the property and provide pricing. Luckily, we have a list of trusted professionals in our network that we can recommend as experts in their field. Need the name and number of a great repair person? We’ve got one! By working with your inspector to identify areas of concern, and by getting appropriate pricing from recommended contractors, you’ll be able to move through the sales process in an educated manner.
Looking for more information about inspections, or buying and selling a home? Check out our blog for other great articles!
By Chris Earley
Chris Earley is the Owner and President of Liberty Inspection Group based in Media, Pennsylvania. Liberty was named one of the Philadelphia 100 in 2017 by the Wharton SBDC, making them one of the fastest growing businesses in the Philadelphia area. Chris’ company is a full-service inspection team providing commercial and residential inspections in Pennsylvania, Delaware and New Jersey.