Though it seems difficult to believe, many homeowners-to-be started building their house without doing the proper research. This causes them to spend either too much or too little on the project. In the end, money is wasted, the house is sub-quality, and the owner is frustrated. All this headache can be avoided by employing building review & financial planning experts, who will look into these aspects:
- Reserve Fund Studies
All condos should have a reserve fund. This is a special account that provides cash for major replacements and repairs for the condominium. Reserve fund studies help ensure that the right amount of finances is provided for any kind of repair or replacement that pops up.
- Repair Planning and Condition Assessments
These are vital points in building review & financial planning. This involves crucial details such as replacement estimates that can help an owner make an informed decision. No repair or fixing is done before research on prices is carried out.
- Energy Audits
An energy audit is carried out to minimize energy consumption without affecting the output. An auditor uses a special software program to determine energy use in your home.
- Warranty Claims and Performance Audits
All new condos must have a performance audit done on their common elements during the first year after their registration. Warranty claims provide protection from damages brought about by breach of building regulations or structural issues. Both are done during building review & financial planning to protect homeowners.
These are four aspects of building review & financial planning that an engineering firm can handle for anyone who owns or manages a building.
