There is quite a contrast to what motivates a buyer of a home versus a purchaser of commercial property. Platinum Property Inspections, certified property inspector in Prescott, discusses commercial property.
A home purchase is quite often all about emotion. Things like, “I really this house,” “what a large beautiful kitchen,” “cozy fireplace,” and on it goes. People usually buy homes because they really “love” things about the home and the location.
On the contrary, commercial real estate purchases deal in money. It is all about investment potential, cash flow possibilities from rent, and tax consequences. The commercial real estate buyer is looking at “the bottom line.” How much will it cost to install the new heating system the building needs. Is a new roof necessary? How do I need to adjust the rents to be able to make a profit?
With commercial inspections, we usually stress the industry standards for life expectancies. These can vary greatly depending on each system and the quality of the original construction. But as a general guideline, the industry standards are as follows:
- For electrical systems, if it is approximately 50 years old or older, it is time to upgrade it
- Plumbing is approximately 40 to 60 years depending on many variables
- Heating and AC systems that are roof mounted are approximately 15 to 17 years of expected life
- The lifespan for commercial roofing for the most part is approximately 10 to 15 years
- The structure is the biggest variable. These can last from 70 to 100 plus years depending on many things
Platinum Property Inspections, your certified property inspector in Prescott, can handle your residential or commercial property inspection. We want you to understand your building inspection, and we welcome your questions. We provide a detailed, written report identifying potential issues to help you avoid costly future repairs. For a thorough inspection of the Prescott home or commercial building you may be looking to purchase, schedule an inspection by calling the experts at Platinum Property Inspections at 928-713-0889.