The quality of wiring in a property can impact its value.
Potential buyers want to know as much about the integrity of a property as possible before committing their resources to purchasing. The electrical wiring and consumption of a property can drastically impact a buyer's cost analysis. Faulty electrical work can increase operational costs for the property as well as run the risk of harm to the building or an inhabitant. Often, new buyers inherit any wiring problems a property may have. Preparing an electrical report on a property makes sure that potential buyers have all the information that they need to understand the electrical condition of a possible investment.
Instructions
1. Describe the property. Give exact details such as address, longitude and latitude or plot number to avoid confusion. Summarize how the property is connected to the electrical grid (such as underground or overhead wires). Provide a description of the condition of external electrical wires.
2. Detail historical energy use. Contact the local utilities company for records of kilowatt-hour consumption. Provide comparable usages from other buildings of similar square-footage and purpose.
3. List any code violations or potential safety hazards that you observed on your survey. Provide cost estimates for making necessary updates to the wiring. Discuss the potential usage impact of any violations.
4. Identify areas that electrical use could be minimized. Point out optional updates such as new windows or insulation that could have long-term impacts on electrical usage.
5. Summarize the overall electrical condition of the property. Provide sum total cost estimates for all necessary and optional upgrades and replacements. Rate the property in comparison to similar buildings as more or less efficient.
Tags: cost estimates, electrical condition