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How We Estimate Repair Costs On A Home

How much does it cost to repair a home? This is a question we get a lot, and it's not always easy to answer. There are many factors that can affect the cost of repairs, including the age of the home, the type of damage, and the severity of the damage. In this blog post, we'll take a closer look at how we estimate repair costs on a home. Knowing the repair costs is an essential part of how we determine the offer we can make on your property.

5 Steps To Estimating Repair Costs

1. We inspect the property thoroughly and make a note of any existing problems we might find.

2. Research industry standards for materials and labor currently associated with home repair costs. This can vary in different real estate markets.

3. Contact reliable contractors who specialize in rehab work for quotes on supplies and labor needed. Sometimes we do this, sometimes we skip it depending on the property and the timeline involved.

4. Add 10% of our total estimate as the contingency for unexpected extra costs.

5. Finally, total up all of our estimated expenses.

Using Comparable Sales

When evaluating repair costs on homes in Little Rock, Arkansas, it's essential to look at comparable sales in the area to get a good estimate. What are the typical upgrades? What finishes are being used? Looking at what others did to upgrade their own home can be really helpful too; seeing Little Rock's real estate market from top to bottom is an invaluable tool for predicting how much the fixed-up property will sell for.

At our company, we understand that repair costs for a home are never fun to think about. But have no fear! We strive to make estimating those costs as efficient and accurate as possible. By taking into account the age of the home, the type of repair, and all materials necessary for the job, we can come up with an accurate estimate without breaking a sweat.

Hopefully, this gives you a better understanding of how we come up with repair estimates.

Give us a call today to find out how we can help you!

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