This question was moved from the FAQ section of our site and expanded to better educate our clientele.
Home inspectors are not required to give estimates for needed repair work verbally or within your home inspection report. It is understandable that some buyers want to factor this information into their purchase decision. Repair estimates may also help in negotiating the price following a home inspection. Resources such as the ones listed here will aid you in obtaining repair prices.
Various parties involved in real estate use cost estimates. From cost estimators to contractors, home insurance adjusters, appraisers, buyers, sellers, and investors, use estimating services and software. For buyers, you may wish to negotiate the offer on the home you intend to buy. Some may wish to know the associated cost of bringing the home up to your desired standards for future purposes. As a seller, you may want to take repair needs into consideration before listing the home to deflect counteroffers. Everyone involved wants to either pay or charge the right amount.
Estimates are not as simple to formulate as it seems and even estimators make the mistake of under or over quoting projects. Every home is unique, and with that in mind, your home repair needs may vary. Some items may be in need of basic repair while other items will require a new installation.
Local contractor estimates will often vary even for the same job. While the level of service, quality, availability of materials, tend to be at the forefront, other factors are important in the overall pricing.
Though not intended to be technically exhaustive, the factors commonly included in residential quotes include: project type, square footage, the difficulty of installation, removal, overhead expenses incurred, competitive landscape, adhering to newer compliance standards in the industry, permit requirements. This leads to why repair quotes received over the phone from various contractors quickly change once on-site and are able to better assess the scope of the project.
Depending on your particular situation, you may prefer a professional-grade cost estimate reflective of the conditions based on your home inspection report. With these estimates done for you, you and your realtor can then approach sellers or contractors with more confidence. You can then measure your own 3rd party estimates against bidding contractor estimates to get a rough idea of whose service is reasonably priced.
Kingsmen Home Inspection Services is affiliated with Repair-Pricer. Realizing how invaluable this service would be to our future clients and realtors that want more leverage for clients, we reached out to them.
Repair-Pricer will review data in your home inspection report and then convert the information into a separate estimate report within 24 hours. Although this is not a free service, it is not expensive at $69.99. It will also allow you to save time in comparison to contacting 2-3 specialists per each job desired. Which are not always free either and may take up to 5- 7 days for some contractors to send those estimates.
Repair Pricer repairpricer(dot)com
Not interesting in paying for the cost to repair estimates or contacting contractors, we understand. The below links contain free cost estimate guides that may suit your desired needs. All cost guides listed have their limitations and require that you do some deciphering in order to capture any usable information.
To obtain pricing reflective of your intended neighborhood, you need to fill in zip code information. Estimates differ throughout the Bronx, Brooklyn, Queens, and Long Island when zip codes are applied. For the do-it-yourself types that like to crunch numbers, this will allow you to establish basic estimates manually on items listed in your report. Use the links with caution. We do not attempt to confirm the quality of information within the cost estimate repair guides listed.
Therefore, we only referenced the more popular links here as a courtesy to you. We recommend that you do not give too much information (zip code only) to avoid unsolicited contractors calling you.
Fixr.com cost guides
Home Guide Cost
Home Wyse Installation cost
HomeYou Cost Guide
Pro Matcher Cost reports
NYS Home Inspector #16000079141
InterNACHI Certified #NACHI17030725
I.A.C.2 Mold Certified #IAC2-05-9029