Buying commercial real estate is very different from buying a house.
What does a commercial building inspection cost?
Many consider real estate of any kind an investment, but commercial real estate has a much more direct impact on your finances than purchasing a house.
With residential real estate, you hope that the home will pay off eventually, but with a commercial building, you need your investment to pay off quickly. For some, that means keeping upfront costs low and profits high. But if that means pinching pennies on your commercial building inspection, you’re in for a rude awakening.
As recent tragedies have shown us, “cheap” inspections come at a very high cost: human lives.
Why Is an Inspection Necessary?
The purpose of a building inspection—whether for residential or commercial properties—is to get an accurate snapshot of the current condition of the building…not to check another item off your to-do list.
After decades in the business, we’ve seen things that would horrify the average person: neglect, outdated equipment, structural damage, and worse. These issues aren’t limited to older buildings, either. New construction can be just as dangerous as a 50-year-old beach condo.
And remember: there’s no “Lemon Law” when it comes to real estate. The only time to catch these issues before you’re financially responsible for them is to get a commercial building inspection by an experienced, qualified professional.
Ultimately, building inspections are less about what they cost and more about what they could save you in the long run.
What Does a Commercial Building Inspection Cost?
This is not an answer that can be found on any (reliable) blog post, as there are a number of factors that contribute to your commercial building inspection cost.
The older and larger the property is, the longer the inspection will take (and the more it will likely cost).
However, asking what a commercial inspection costs is never going to get you the right answer, but it starts by asking the wrong question.
When it comes to getting an inspection, quality and experience will always be more important than cost. If you get a cheap inspection that fails to notice that your foundation is in dire need of repair, it won’t matter how much money you “saved.”
In fact, a quality inspection will actually end up saving you money in the long run.
For example, say you went with the cheap inspector, who only charged you pennies but signed off on your building, stating everything was in good condition. You purchase the building, expecting to set up shop quickly and turn a profit.
However, when the HVAC goes out, you’re in the hole for a lot more. If you’d paid double, triple, or even quadruple and went with a qualified inspector, you’d be a lot better off.
What Does a Commercial Inspection Include?
Unfortunately, there are two ways to answer this question.
First, there is the list that building inspectors are required to use by law. Second, there’s the BIS way.
Most commercial inspections will look at the roof, foundation, plumbing, electrical, HVAC, appliances, and other general aspects of the building. This gives buyers the opportunity to crunch the numbers and decide whether it’s a good investment or not.
But at BIS, we’re not content to stop there.
Your commercial building inspection should look beyond the structure to everything else that can affect it.
This includes things like:
Of course, any commercial building inspection is only as good as the person performing it.
How to Find a Quality Inspector
You’ll find very few building inspectors that will advertise their lack of experience or tendency to cut corners. So how do you tell the difference between a pro and a dud?
This is one area where the saying “let the buyer beware” holds true. You have to do your research to make sure the inspector you’re hiring is qualified to give you the most accurate inspection report.
- How much experience do you have?
- What licenses do you hold? May I see a copy of your license?
- Does your inspector have the knowledge and experience to spot building code violations?
- Do you use subcontractors?
- Will I be able to attend the inspection?
- What can I expect during the inspection? How long will it take?
- Do you provide a written report? Will it include photographs?
- Are your inspections guaranteed?
When it comes to commercial real estate, very few things can be called “cheap.” And that should include your inspection.
Above all else, put the inspector’s experience and qualifications before the commercial building inspection cost.
In our experience, prioritizing price over quality rarely works out in one’s favor.
From construction inspection to 40-year recertifications, BIS has the experience and qualifications you can trust. We are licensed and certified in the State of Florida in home inspection, general contracting, engineering, termites, and mold detection.
Protect your investment with a comprehensive commercial inspection that keeps your goals and interests in mind! Contact us today to schedule your inspection.