and should my base charge include the four point wind mit and on what sizing am i basing these charges on??
WHERE are you located??
I can assume a certain State, but are you Northern or Southern.
Many factors are Regional, especially pricing.
Details matters!
How much do you think you should charge? And what is your pricing based off of?
1 Like
hi thanks for your time and im locate in south florida, west palm beach area
1 Like
300-400 but thats just because thats the number ive heard other inspectors kind of throw around
$300.00-$400.00 is pretty loose. Is that based off of sq feet, age of home, & distance?
Do you know what your monthly fixed costs are? And do you know what you will need to not only pay your bills while you’re busy but also sustain yourself while things are slow? You need to know this before you can determine what you need to charge.
3 Likes
And there’s the primary reason inspectors that go out of business within 1-3-5 years fail.
First… you MUST know your actual COSTS/EXPENSES of doing business to establish what you NEED to charge to survive!!
All inspectors have different numbers. Why would you use another’s numbers as your own? That’s just plain idiotic! (Note: Most inspectors have no clue of their costs, so they are talking out their asses regarding what they charge, with NO basis for their fee’s)!
Once you “do the work” to make your determination, only then can you safely “play with the numbers” to be more competative (IF NECESSARY)!!
1 Like
These links may help:
4 Likes
Again… you need to know your true Costs before trusting ANY Fee Calculator to advise you.
Have you consulted with an Accountant yet?
Part of your job now is to follow what has been posted, learn how to price your services to stay profitable, and to have a menu of add-ons (such as insurance reports, 4-points, Wind Mitigations, etc.).
Giving stuff away is a bad idea, overall.
2 Likes
I would start with that range as a new inspector for a small house only, not including a 4pt and a wind mit.
Those should be separate.
Square footage matters, age matters, on a crawl matters.
A 1200 ft manufactured home built in 1985 on a crawlspace will take you as much time or longer than as a 2100sq/ft 2021 block and stucco on a slab. In fact, the bigger one may be much faster. You can test all the AFCI/GFCI in about 10 seconds at the panel, all the windows open, the mechanicals are new, etc.
DO NOT fall into that TRAP!!
NEW don’t mean squat! I’ve inspected homes less than two years old with failed/failing appliances/mechanicals!!
Do your full job, everytime, NO shortcuts!!
I charge double that; $600 to $800 and more. Out buildings, detached garage, radon, other ancillary services are extra. After expenses are paid, for $300 > $400 you’ll be better off financially working at a fast food restaurant. Follow @lkage link to the Fee Calculator and use that for all your inspection pricing. Take a business course at your community education or university extension service.
Make it easy and have a catchy price and slogan like Earl Scheib!
“Ill inspect any house for $99.99”
2 Likes
How much do i charge for an inspection?
Charge what your market will bear. Call other local inspection companies and see what they’re charging, but keep in mind you need to give people a reason to choose you over your competition, a reason other than a cheap inspection.
As you calculate your expenses, don’t forget taxes. My tax guy told me to set aside 33% of income towards taxes.
So if I do 100 inspections this year at $300/each, sure I make $30,000
but then 10k goes to taxes
a thousand to report software
a thousand to insurance
a couple thousand to marketing, website, etc.
a thousand to licensing, NACHI membership, etc.
If I take home 50% of the inspection fee, or 15k in personal pay this year, my business doesn’t have any reserves to get by next year. It might even be short.
If everything stays the same, but I charge $350 on average, I can take home 18k and my business still has a thousand bucks leftover.
If I can get other services (radon, mold, etc) added on just 20% of the time, I can take home 20k and my business account can still have a couple grand after taxes, fees, expenses, etc.
I’m going to charge near the local rate for an inspection, and I’ll have to decide how much I get to pocket for myself if I want my business to stay afloat.
As I get more experience, more certs, etc. and a longer list of agents and clients, my prices will go up to indicate that.
Break open excel, and plot it all out!
Good luck!
1 Like
How are you getting to your inspections? Truck, average 30 miles round trip/inspection X $0.75/mile IRS rate X 100 inspections = $2250.
4 hours on site + 4 hours report writing + 1 hour travel X 100 inspections = 900 hours
$30,000 gross revenue - $10,000 taxes - $1000 software - $1000 insurance - $2000 marketing - $2250 vehicle = $13, 750.00
$13,750 / 900 hours = $15.28/hour
I can’t write a report in 4 hours, but maybe you can. Is your market area within the 15 miles one way distance I assumed? Are you happy with $15.28?
Maybe a fast food restaurant is a better option…
1 Like
Calculate your time at $100-$150 an hour. Do a few practice inspections.
2 Likes